IGX Gas Trading Volumes Skyrocket 326% in October
Indian Gas Exchange sees a massive 326% YoY jump in trading volumes for October, driven by heavy demand from the power sector.
The Indian Gas Exchange (IGX) has witnessed a massive explosion in activity, with IGX gas trading volumes surging by 326.03 per cent year-on-year to reach 13.28 million MMBtu in October 2026. According to an official statement from the exchange, this dramatic increase was primarily fueled by robust demand from the power sector, although the figures showed a 25.25 per cent dip when compared to the previous month of September.
Breaking Records: Intraday Trading Hits All-Time High
October wasn't just about the monthly totals; it was also a month of record-breaking milestones. The exchange reported its highest-ever single-day intraday trading volume during this period, with 0.30 million MMBtu traded in a single day, marking a significant peak in the platform's operational history.
The Breakdown: Domestic vs. Free-Market Gas
The trading activity in October was split between two primary categories of gas:
- Domestic HPHT Gas: High-pressure, high-temperature gas accounted for 24.12 per cent of the total volume. Interestingly, the entirety of this volume was snapped up by city gas distribution (CGD) companies to satisfy the demand for compressed natural gas (CNG) and piped natural gas (PNG).
- Free-Market Gas: This category dominated the exchange, making up the remaining 75.88 per cent of the total trades.
Power Sector Leads the Charge
The power sector emerged as the heavyweight consumer of free-market gas. Out of the 10.08 million MMBtu traded in the free-market category, the power sector alone consumed 5.69 million MMBtu. This demand was particularly intense during the first half of October.
How the Power Sector Traded
The power sector utilized a variety of contract types to secure its energy needs:
- Balance-of-month contracts: 57.22 per cent
- Intraday and day-ahead contracts: 27.48 per cent
- Fortnightly contracts: 15.30 per cent
Production and Deliveries
Beyond the exchange trades, producers moved nearly 15.43 million standard cubic metres of domestically produced gas with pricing freedom. This gas originated from the Suvali, Jaya, Hazira-ONGC, and Bokaro coal bed methane (CBM) blocks.
In terms of physical movement, IGX recorded deliveries of 15.05 million MMBtu in October, which translates to 12.23 million metric standard cubic metres per day (MMSCMD).
Price Trends and Infrastructure
The Gas Index of India (GIXI), the exchange's benchmark, stood at Rs 2,471 (USD 25.87) per MMBtu for October. While this represents a staggering 154.44 per cent increase compared to the same month last year, it actually reflects an 8.89 per cent decline from September's levels.
The exchange's reach continues to expand, operating across 19 delivery points as of October 2026. These points include domestic gas field landfall locations, pipeline interconnection points, and LNG terminals. Among these, Dahej emerged as the hub with the highest trading volumes in the free-market category.
To cater to diverse market needs, IGX currently offers 12 standardised natural gas contracts. These range from fixed-price intraday and monthly products to longer-term index-linked contracts spanning three months, six months, one year, and two years.