IGX Gas Price Index Falls 11% YoY in October

New Delhi, Nov 6 (PTI) The Indian Gas Exchange (IGX) on Thursday said its benchmark gas price index, GIXI fell 11 per cent year-on-year in October due to weak demand.

GIXI averaged Rs 973 (USD 11) per million British thermal unit (MMBtu) in October 2025, down 11 per cent year-on-year and 6 per cent month-on-month, tracking a decline in global gas prices amid stagnant domestic demand, IGX said in a statement.

IGX reported a trading volume of 3.1 million MMBtu (79 million standard cubic meter) in October, a 46 per cent month-on-month decline, driven by lower domestic gas supply due to reduced KG Basin output and muted power sector demand.

Of the total traded volume, 49 per cent was free-market gas, while 51 per cent comprised domestic high-pressure, high-temperature (HPHT) gas sold at the ceiling price of USD 9.72 per MMBtu. Nearly 9 MMSCM of domestic gas with pricing freedom was traded from Bokaro (CBM), KG, and Hazira-ONGC delivery points.

The exchange executed 109 trades during the month, including its first small-scale LNG (ssLNG) trade at Hazira. The most active delivery points were Mhaskal for free-market gas and Gadimoga for ceiling-price gas.

Exchange-traded deliveries totalled 4.5 million MMBtu (3.6 million standard cubic meters per day) in October.

IGX said European and Asian spot gas benchmarks also eased, with the Dutch TTF and WIM-ex Dahej both at USD 10.9 and USD 12 per MMBtu, down 1 per cent month-on-month and 16 per cent, respectively, from a year earlier. The US Henry Hub benchmark, however, rose 11 per cent month-on-month to USD 3.4 per MMBtu.

Regional GIXI indices showed marginal variations, with GIXI-West at Rs 974 (USD 11) per MMBtu, while GIXI-East and GIXI-South were 3 per cent and 5 per cent lower, respectively, reflecting transmission and tax differences. GIXI-Dahej stood at Rs 1,020 (USD 11.5) per MMBtu, steady from September and trading at a USD 0.7 (6 per cent) discount to WIM-Ex Dahej.