Indian Gas Exchange - Key Updates for November 2023

The Indian Gas Exchange (IGX) traded 28,48,750 MMBtu (~72 MMSCM/2.4 MMSCMD) gas volume in November 2023, with 2% MoM decrease.

A total of 141 trades were executed during the month. The maximum number of trades were executed in Daily contract, 71 trades; followed by Weekly & Day Ahead contracts of 44 and 9 trades respectively.

The most active delivery point for free market gas was Mhaskal and for domestic ceiling price gas was Gadimoga. Other trading delivery points were- Dahej, Hazira, Ankot, Suvali & KG Basin.

During the month, the Exchange traded gas flows were 79,38,200 MMBtu (~6.7 MMSCMD) due to significant trades matured in previous months.

GIXI (Gas Index of India) for November 2023 was Rs 1131/$13.5 per MMBtu, higher by 13% last month. GIXI- South was Rs. 829/$9.96 per MMBtu (capped due to Ceiling Price) and GIXI-West Rs 1131/$13.5 per MMBtu. Different spot gas benchmark prices recorded were: HH at ~$2.7/MMBtu, TTF at ~$14.5 /MMBtu, whereas LNG benchmark indices were: WIM ~16 $/MMBtu.

IGX traded a total of 18,70,000 MMBtu domestic ceiling price gas during the month.

A quick summary of the gas market during November'23 is as below:

- Total traded volume: 28,48,750 MMBtu
- Domestic ceiling price gas traded: 18,70,000 MMBtu
- Total no. of trades: 141

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.

Shares of Indian Energy Exchange Limited was last trading in BSE at Rs. 143.90 as compared to the previous close of Rs. 144.90. The total number of shares traded during the day was 754743 in over 7501 trades.

The stock hit an intraday high of Rs. 148.80 and intraday low of 143.35. The net turnover during the day was Rs. 109812336.00.

Source : Equity Bulls

Keywords

IndianEnergyExchange INE022Q01020 IEX IndianGasExchange IGX GasVolume November2023