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The Indian Gas Exchange (IGX) recorded its highest-ever trading volume in the first half of the fiscal year 2026, touching 40.7 million MMBtu (1,026 MMSCM), according to a press release. This marked a 72 per cent rise compared to the same period last year, driven largely by increased participation and stronger demand in the power sector.
During this period, nearly 42 per cent of the traded gas came from the free market, while the remaining 58 per cent was domestic HPHT gas sold at the government's ceiling price. A total of 1,031 trades took place, with the monthly contract remaining the most preferred, accounting for 64 per cent of total volumes. Gadimoga emerged as the most active delivery point, contributing to 44 per cent of the total trades, followed by Dahej with 17 per cent. In September 2025 alone, IGX traded 5.8 million MMBtu (145 MMSCM) of gas, reflecting an 88 per cent year-on-year increase. The spike in activity was largely fuelled by demand from the power sector, where 40 per cent of the gas was traded through Intraday and Day-Ahead contracts. During the month, 81 per cent of the traded gas came from the free market, while 19 per cent was domestic HPHT gas priced at Rs. 889 (USD 10.04/MMBtu). Notably, around 10.6 million standard cubic meters per second of gas with pricing freedom was traded by producers from Bokaro (CBM), the KG Basin, and Hazira-ONGC. IGX's benchmark gas price index, GIXI, stood at Rs. 1,040 (USD 11.8/MMBtu) in September 2025, which was 9 per cent lower year-over-year but 3 per cent higher month-over-month. Prices moved in line with global trends as international gas benchmarks like Europe's TTF and Asia's WIM-Ex Dahej also declined due to reduced demand. The GIXI-West price remained on par with the national average. At the same time, GIXI-East and GIXI-South were 10 per cent and 8 per cent lower, respectively, reflecting regional differences in taxes and transportation costs. In total, 176 trades were executed in September, with Dabhol leading in free-market gas deliveries and Mallavaram topping the list for ceiling-price gas. Exchange-traded deliveries during the month reached 6.6 million MMBtu, translating to about 5.5 MMSCMD of gas flow. Adding to its milestones, IGX also signed a Memorandum of Understanding with PRISMA, Europe's largest gas transport capacity booking platform, to promote transparency and innovation in gas trading between Indian and European markets. (ANI)
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