New Delhi: Indian Gas Exchange (IGX) traded 4.1 million MMBtu (105 MMSCM) of gas in July 2025, registering a 3 per cent month-on-month and 2 per cent year-on-year increase, driven by higher domestic gas sales from producers, according to exchange data.
The exchange’s benchmark price index, GIXI, for July stood at ₹1,023 or $11.9 per MMBtu, down 8 per cent from a year earlier but up 3 per cent over June. The price trend reflected correction in international markets and continued low demand for gas, particularly from the power sector.
International gas prices also softened month-on-month in July. European benchmark TTF settled at $11.7/MMBtu, down 10 per cent from June and up 13 per cent from July last year. WIM was at $13.1/MMBtu, while US Henry Hub was $3.3/MMBtu, down 10 per cent MoM and up 48 per cent YoY.
Regionally, GIXI®-West matched the All India index at ₹1,025/$11.9 per MMBtu, while GIXI®-East and South were lower by 3 per cent and 1 per cent respectively due to transmission and tax differentials. GIXI®-Dahej for July was ₹1,009 or $11.7/MMBtu, up 3 per cent MoM, trading at a $1.7/MMBtu (15 per cent) discount to the WIM-Ex Dahej settled price.
Free market gas accounted for 47 per cent of traded volumes, with the remaining 53 per cent being domestic high pressure-high temperature (HPHT) gas sold at the ceiling price of ₹867 or $10.04/MMBtu. Nearly 5 MMSCM of domestic gas with pricing freedom was traded at Bokaro (CBM), KG Basin, and Hazira-ONGC delivery points.
In July, IGX executed 116 trades, with Dahej as the most active delivery point for free market gas and Gadimoga for ceiling price gas. Other active delivery points included Jaya, Mhaskal, KG Basin, Bokaro, Dabhol, Hazira, and Hazira-ONGC.
Contract-wise, fortnightly trades were highest at 43, followed by monthly (28), day-ahead (16), intraday (11), daily (9) and weekly (9) contracts. Exchange-traded deliveries during the month were 6.3 million MMBtu (~5.1 MMSCMD).
Sanron Energy Private Limited joined as a new proprietary member during the month, taking the total registered members on IGX to 51. The exchange currently offers trades at 21 delivery points, including six LNG terminals, 12 domestic gas field landfall points, and three pipeline interconnections.
IGX provides delivery-based trading in seven spot contracts — intraday, day-ahead, daily, weekday, weekly, fortnightly, and monthly (up to 12 months) — and two long-duration contracts of three and six months linked to benchmarks such as GIXI, JKM, WIM, and Dated Brent
