Stock Report

Indian Gas Exchange traded 4.92 million MMBtu gas volume in May'24

Posted On : 2024-06-06 20:42:24( TIMEZONE : IST )

The Indian Gas Exchange (IGX) traded 4.92 million MMBtu (~124 MMSCM) gas volume in May'24, higher by 99% MoM & 480% on YoY basis. Trade volumes were high mainly due to an increase in gas demand from gas-based power plants amid hot weather and directives from the government to maximize their output to address the growing demand for electricity.

A total of 96 trades were executed in May'24. During the month, 32 trades (maximum number) were executed in Monthly contracts, followed by 29 trades in Daily contracts and 19 trades in Weekly contracts, other contracts were Fortnightly, Weekday & Day-Ahead.

The most active delivery point for free market gas was Dahej & KG Basin for Ceiling Price gas, other trading delivery points were- Hazira, Ankot, Suvali & Mhaskal.

During the month, the Exchange traded gas deliveries were 3.47 million MMBtu (~3 MMSCMD).

GIXI (Gas Index of India) for May 2024 was Rs 851/$10.2 per MMBtu, higher by 13% last month. GIXI- South was Rs. 786/$9.4 per MMBtu and GIXI-West Rs 901/$10.8 per MMBtu. Different spot gas benchmark prices recorded were: HH at ~$2.1/MMBtu, TTF at ~$10 /MMBtu, whereas LNG benchmark indices were: WIM ~11.3 $/MMBtu.

Total Domestic ceiling price category gas traded during the month was 0.20 million MMBtu at ceiling price (₹823/MMBtu) at KG Basin delivery.

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.

Note: The delivered volumes price excludes domestic ceiling price gas traded at ceiling price.

Shares of Indian Energy Exchange Limited was last trading in BSE at Rs. 162.55 as compared to the previous close of Rs. 157.05. The total number of shares traded during the day was 3923969 in over 29899 trades.

The stock hit an intraday high of Rs. 167.50 and intraday low of 160.25. The net turnover during the day was Rs. 644264985.00.