An associate company of the Indian Energy Exchange (IEX), Indian Gas Exchange Ltd. (IGX) said today that it exchanged 2,723,350 MMBtu of gas in July 2023, a 20% year-over-year (YoY) increase. The volumes surged as a result of purchasers' heightened interest in spot purchases during a global reduction in petrol prices.
The month saw 65 trades completed in total. The Daily and Weekly contracts saw the most trades executed 20 each followed by the Monthly and Fortnightly contracts, which saw 18 and 5 trades, respectively.
Suvali was the busiest delivery location for free market petrol, and Gadimoga was the trading hub for domestic petrol with a ceiling price. Dahej, Mhaskal, KG Basin, Bhadbhut, and Ankot were additional trading delivery sites.
The exchange traded gas flows for the month totaled 1,795,100 MMBtu. For July 2023, the Gas Index of India (GIXI) was Rs 866/$10.6 per MMBtu, down 2% from the previous month. During the month, IGX exchanged 2,288,450 MMBtu of domestic gas at a below-ceiling price of Rs 844 (volume weighted average price).
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