MEDIA RELEASE: GAS MARKET UPDATE, APRIL 2024

  • TRADES 2.47 MILLION MMBTU (~62 MMSCM) GAS VOLUME IN APRIL'24
    INCREASE OF 123% MoM & 38% YoY
  • GIXI - AVG. PRICE FOR GAS DELIVERIES DURING APRIL'24 WAS RS 754 /$9/MMBTU; DECLINE OF 6% MoM
  • TOTAL 74 TRADES EXECUTED DURING THE MONTH

New Delhi, Friday, 03 May 2024: The Indian Gas Exchange (IGX) traded 2.47 million MMBtu (~62 MMSCM) gas volume in April'24, higher by 123% MoM & 38% on YoY basis. Higher trade volumes were due to price corrections in the international market and lower price of imported LNG as compared to HPHT/Ceiling gas price in April'24.

A total of 74 trades were executed in April'24. During the month, 22 trades (maximum number) were executed in Daily contracts, followed by 19 trades in Fortnightly contracts and 18 trades in Monthly contracts.

The most active delivery point for free market gas was Hazira & Gadimoga for Ceiling Price gas, other trading delivery points were- Dahej, KG Basin, Ankot, Suvali, Mhaskal & Bhadbhut.

During the month, the Exchange traded gas deliveries were 2.91 million MMBtu (~2.5 MMSCMD).

GIXI (Gas Index of India) for April 2024 was Rs 754/$9 per MMBtu, lower by 6% last month. GIXI- South was Rs. 753/$9 per MMBtu and GIXI-West Rs 754/$9 per MMBtu. Different spot gas benchmark prices recorded were: HH at ~$1.6/MMBtu, TTF at ~$9.2 /MMBtu, whereas LNG benchmark indices were: WIM ~9.7 $/MMBtu.

Total Domestic ceiling price category gas traded during the month was 2.08 million MMBtu at below ceiling price (avg. ₹793/MMBtu) at Gadimoga & KG Basin delivery points.

IGX currently offers delivery-based trade in six different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly, under which the trade can be executed for six consecutive months.

The gas trade takes place at multiple delivery points, such as - Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, Suvali. It covers six regional gas hubs, namely, Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, and North Eastern Hub across India.

Note: The delivered volumes price excludes domestic ceiling price gas traded at ceiling price.

Corporate Office: Plot No - C-001/A/1, 6th Floor, Max Towers, Sector 16B, Noida UP - 201301, India

Tel: +91-120-4648100 | E Mail: contact@igxindia.com | www.igxindia.com

Registered Office: C/O Avanta Business Center, First Floor, Unit No 1.14(b), D2, Southern Park, District Centre, Saket 110017

CIN: U74999DL2019PLC357145

ABOUT IGX

Established in 2020, the Indian Gas Exchange Limited (IGX) is India's first automated national-level Gas Exchange for physical delivery of natural gas. The Exchange envisions to architect India as a market-based gas economy. Powered by state-of-the-art technology, the Exchange provides a neutral and transparent marketplace to multiple buyers and sellers to trade in the spot and forward gas contracts at designated physical hubs. IGX is an Associate Company of the Indian Energy Exchange Limited. The Exchange is authorized and regulated by Petroleum and Natural Gas Regulatory Board. For further details, log on to:www.igxindia.com

Ms. Aparna Garg

Head - Corporate Communications Telephone: +91-9958274392 Email: aparna.garg@iexindia.com

Mr Ishank Garg

Adfactors PR Pvt Ltd

Telephone: +91 9711035025

Email:Ishank.garg@adfactorspr.com

Corporate Office: Plot No - C-001/A/1, 6th Floor, Max Towers, Sector 16B, Noida UP - 201301, India

Tel: +91-120-4648100 | E Mail: contact@igxindia.com | www.igxindia.com

Registered Office: C/O Avanta Business Center, First Floor, Unit No 1.14(b), D2, Southern Park, District Centre, Saket 110017

CIN: U74999DL2019PLC357145

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Indian Energy Exchange Ltd. published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 13:06:20 UTC.