IGX posts record annual gas trading volume in FY26, up 28% YoY

The Indian Gas Exchange (IGX) saw a record-high annual gas trading volume of 76.8 million MMBtu in FY26, up 28% year-on-year. However, trading volumes in March declined by 11% MoM due to supply disruptions in the spot market.

Record Annual Performance in FY26

The Indian Gas Exchange (IGX) recorded its highest-ever annual gas trading volume in FY26, with 76.8 million Metric Million British thermal units (MMBtu) traded on the exchange, marking a 28 per cent increase year-on-year, according to data shared by the exchange.

The exchange added that "around 47 per cent of traded volumes were free market gas & 53 per cent domestic HPHT gas at ceiling price," with a total of 1,924 trades executed during the financial year.

IGX also noted, "The most liquid contract was the monthly contract, 64 per cent of the total volume trade in monthly contracts followed by Fortnightly (14 per cent), Day-ahead (6 per cent), Weekly (5 per cent), Daily (5 per cent), Intraday (3 per cent), BoM (1 per cent), 6M & 3M (1 per cent) respectively," it said.

Among delivery points, Gadimoga accounted for the highest share of trading activity. "The most active delivery point was Gadimoga (41 per cent of total trade) followed by Dahej (22 per cent of total trade)," the exchange stated.

The exchange further said that deliveries linked to traded contracts were significant during the year. "During FY'26, the Exchange traded deliveries were 76.3 million MMBtu (5.3 MMSCMD)," IGX said, adding that the platform has achieved strong growth in recent years. "IGX achieved a CAGR of 58.6% over the period FY22-FY26."

March Volume Declines Amid Supply Issues

However, trading volumes declined in March compared with the previous month and last year due to supply disruptions. "In March'26, IGX achieved monthly trade gas volume of 4.8 million MMBtu (120 MMSCM), volume down by 11 per cent MoM & 8 per cent YoY basis," the exchange said.

The decline was attributed to tighter supply in the spot market. According to IGX, "the decline in volume was primarily due to reduced supply in the spot market amid Middle East disruptions, additionally, MoPNG notified allocation of gas to priority sectors."

The exchange said most of the gas traded in March was domestic gas allocated to priority sectors. "Approximately 93 per cent of the traded volume was Domestic HPHT gas at the ceiling price (USD 8.9/MMBtu) allocated to priority sector (D-PNG & T-CNG), while 7 per cent was free market gas," IGX said.

The exchange also reported that domestic gas with pricing freedom was traded at multiple delivery points. "Nearly 8 MMSCM of domestic gas with pricing freedom was traded by producers at Bokaro (CBM), Jaya, Suvali, KG Basin, and Hazira-ONGC delivery points," it said.

According to IGX, exchange-linked deliveries during March stood at 9 million MMBtu. "Exchange traded deliveries were 9 million MMBtu (~7.3 MMSCMD) during the month," the exchange stated.

Price Index and International Market Context

The exchange's benchmark price index also moved slightly higher on a monthly basis. "Indian Gas Exchange's benchmark price index, GIXI, for March 2026 was Rs 998/USD 10.8 per MMBtu--up by 1 per cent MoM & down by 18 per cent YoY," IGX said.

The exchange noted that the rise in global spot prices was not fully reflected in the index because most trades were executed earlier. "The impact of increase in spot prices is not reflected on GIXI as the maximum number of trades were executed in Feb'26 for March delivery," it added.

International gas prices, however, moved sharply higher during the month due to geopolitical disruptions. According to IGX, "international prices trended upward MoM primarily due to geopolitical disruptions in the Middle East." (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)