Natural Gas volumes traded on the Indian Gas Exchange surged 47.94% sequentially and 11.91% year on year to 27.48 million MMBtu in Q1FY27, even as the exchange’s benchmark gas price jumped nearly 79% year on year in June.
The quarterly traded volume was equivalent to 692.70 million standard cubic metres, with 434 trades executed during April-June. Free-market gas accounted for 52.61% of Q1 volumes, while domestic gas from high-pressure, high-temperature fields sold at the ceiling price contributed 47.39%.
In June, IGX traded 8.19 million MMBtu, or 206.41 MMSCM, more than twice the volume recorded in the corresponding month last year. Volumes rose 103.38% year on year, though they declined 23.87% from May.
Domestic HPHT gas sold at the ceiling price accounted for 51.03% of June trading, with city gas distribution companies procuring the fuel to meet domestic piped natural gas and transport CNG demand. Free-market gas made up the remaining 48.97%.
Producers traded nearly 17.22 MMSCM of domestic gas with pricing freedom at the Bokaro coal-bed methane, Jaya, Suvali and Hazira-ONGC delivery points during the month.
Exchange-traded deliveries stood at 9.46 million MMBtu, translating into an average delivery of 7.94 MMSCMD in June.
The exchange’s benchmark GIXI price averaged ₹1,767, or $18.61 per MMBtu, during June. While the index was almost unchanged from May, it was 78.72% higher than a year earlier.
GIXI-West stood at ₹1,768, or $18.62 per MMBtu, while the eastern benchmark declined 1.27%. GIXI-Dahej increased 1.34% month on month to ₹1,786, or $18.81 per MMBtu.
The GIXI benchmark excludes long-duration contracts, small-scale LNG and domestic ceiling-price gas traded at the notified ceiling.
IGX currently facilitates gas trading at 19 delivery points, comprising six LNG terminals, nine domestic gas-field landing points and four pipeline interconnections.
