- INDIAN GAS PRICE INDEX, GIXI FOR MAY’25- WAS HIGHER BY 19% YoY AND LOWER BY 4% MoM AT RS 1,016 /$11.9/MMBTU
- IN MAY 2025, IGX TRADED GAS VOLUME OF 4.7 MILLION MMBTU (118 MMSCM), LOWER BY 5% YOY
- TOTAL 140 TRADES EXECUTED DURING THE MONTH
- DURING THE MONTH SHAPOORJI PALLONJI ENERGY PRIVATE LIMITED JOINED IGX A NEW PROPRIETARY MEMBER
New Delhi : India’s gas price index, Gas IndeX of India (GIXI) for May 2025 was Rs 1,016/$11.9 per MMBtu, up by 19% YoY the price showed a upward trend due to higher European & Asian spot international gas benchmarks: TTF at $11.7 /MMBtu (16% up YoY, 2% up MoM) , WIM 8% up YoY at 13 $/MMBtu – ex Dahej & US gas price benchmark HH at $3.45/MMBtu (43% up YoY)
GIXI MoM was lower by 5% due to lower demand and higher supplies. Most of the marketers had high inventories for expected demand from power sector. Expected gas demand from the power sector didn’t turn up due to early monsoon and consequent lower peak demand of 231 GW against expected 260GW+.
IGX trade volume also dropped by 5% YoY to 4.7 million MMBtu (118 MMSCM) due to lower demand from power sector as compared to last year. Around 80% of traded volumes were free market gas & 20% domestic HPHT gas at ceiling price (₹861 or $10.04/MMBtu). Around 7.5 MMSCM gas having pricing freedom at Bokaro (CBM), KG Basin & ONGC Hazira delivery points.
A total of 140 trades were executed in May’25. The most active delivery point for free market gas was Chhara & Mallavaram for Ceiling Price gas. Other active delivery points were- Dahej, Mhaskal, KG Basin, Bokaro, Bhadbhut, Hazira, Dabhol & Ankot. During the month, 44 trades were executed in the Day-Ahead, followed by 39 trades in Daily, 24 trades each in Monthly & Fortnightly, 8 trades in Weekly and 1 trade in Intraday contracts respectively
Exchange managed deliveries were 7.9 million MMBtu (~6.4 MMSCMD) during the month
Shapoorji Pallonji Energy Private Limited joined as a new proprietary member during the month, bringing the total number of registered members to 50.
GIXI-West was ₹1025/$12/ MMBtu, higher by 1% GIXI-All India and GIXI- East and South bother were lower by 13% and 8% respectively due to transmission & tax differential. GIXI – Dahej (May-25) was ₹1,016 or $11.9 / MMBtu, almost flat MoM. GIXI-Dahej was at discount of $1/MMBtu i.e. 9% compared to WIM-Ex Dahej settled price for May-25.
IGX currently offer trades at 17 delivery points. Out of which, 5 are LNG terminals, 9 are domestic gas field land fall points and 3 are pipeline interconnection points and offers delivery-based trade in seven different spot contracts such as Intraday, Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly(upto 12 months), and two Long Duration Contracts – 3 Months and 6 Months linked to Benchmarks: GIXI, JKM®, WIM® & Dated Brent®..
Note: The GIXI excludes LDC, ssLNG & domestic ceiling price gas traded at ceiling price.
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