Indian Gas System

Rising global prices, cut in APM gas allocation behind higher trades

India's gas refiners bet on rise in LNG demand from power generation sector

Increasing global gas prices, and an extended winter in March led to the sudden fall

The Indian Gas Exchange (IGX) on Thursday said volume of gas traded on the platform rose 16 per cent in 2023 as producers and consumers flocked to the exchange. IGX recorded 1.22 billion cubic meters or 3.3 million standard cubic meters per day of gas trade in 2023, it said in a statement. December volume at 67 million standard cubic meters or 2.2 million standard cubic meters per day was a 7 per cent decline month-on-month. "A total of 132 trades were executed during the month. The maximum number of trades were executed in daily contract, 61 trades; followed by fortnightly and monthly contracts of 27 and 18 trades, respectively," the statement said. The most active delivery point for free market gas was Dahej and the domestic ceiling price gas was traded at Gadimoga. Other trading delivery points were Hazira, Ankot, Suvali, Mhaskal, Bhadbhut & KG Basin. During the month, the exchange traded gas flows were 37,26,500 million British thermal unit or mmBtu (around 3 mmscmd). GIXI ..

Domestic gas consumption has risen 13 percent in first 10-months of 2023

The lack of storage infrastructure will weaken India's energy security and delay the transition to clean fuel

India's gas demand is about a fifth of China's due to weak domestic supply and poor infrastructure