New Delhi: Indian Gas Exchange (IGX) reported monthly trade volumes of 6.23 million MMBtu (157 MMSCM) in August 2025, registering a 50% increase month-on-month and 33% growth year-on-year, supported by higher domestic gas sales from producers.
Of the total traded volumes, 21% was free market gas while 79% was domestic HPHT gas at the ceiling price of ₹878 or $10.04 per MMBtu. Nearly 10.4 MMSCM of domestic gas with pricing freedom was traded at Bokaro (CBM), KG Basin and Hazira-ONGC delivery points.
IGX’s benchmark price index, GIXI, stood at ₹1014/$11.6 per MMBtu in August 2025, reflecting a decline of 5% year-on-year and 1% month-on-month. The fall was attributed to international market trends and subdued demand from the power sector due to heavy rainfall and higher domestic supplies.
Global benchmarks also trended lower, with European TTF at $11.2 per MMBtu (down 4% MoM, 9% YoY), Asian WIM at $12.4 per MMBtu (down 6% MoM, 14% YoY), while US Henry Hub settled at $2.9 per MMBtu (down 13% MoM, up 38% YoY).
Regional indices showed GIXI®-West at ₹1019/$11.6 per MMBtu, similar to the all-India index. GIXI®-East and GIXI®-South were lower by 2% and 6% respectively due to transmission and tax differentials. GIXI®-Dahej was reported at ₹1010/$11.5 per MMBtu, unchanged from the previous month and at a discount of $2.4 per MMBtu (20%) compared to WIM-Ex Dahej settled price.
A total of 182 trades were executed on the exchange in August, including 55 in monthly, 50 in fortnightly, 30 in weekly, 29 in daily, 10 in day-ahead and 8 in intraday contracts. The most active delivery points were Dahej for free market gas and Gadimoga for ceiling price gas, followed by Jaya, Mhaskal, KG Basin, Bokaro, Dabhol, Ankot, Mallavaram and Hazira-ONGC. Exchange traded deliveries stood at 5.6 million MMBtu, equivalent to about 4.6 MMSCMD.
Membership also expanded during the month, with AGP City Gas Private Limited and Charotar Gas Sahakari Mandali Limited joining as proprietary members, bringing the total to 53. IGX currently offers trades at 22 delivery points, including six LNG terminals, 13 domestic gas field landfall points and three pipeline interconnections.
The exchange facilitates delivery-based trade in seven spot contracts ranging from intraday to monthly (up to 12 months), along with two long-duration contracts of three and six months, linked to benchmarks including GIXI, JKM, WIM and Dated Brent.
