The Indian Gas Exchange saw a massive 326% year-on-year surge in gas trading volumes in October 2026, driven by strong power sector demand, despite a slight decline compared to September figures.
IGX Trading Performance
Gas trading volumes on the Indian Gas Exchange (IGX) surged 326.03 per cent year-on-year to 13.28 million MMBtu in October 2026, supported by strong demand from the power sector, although volumes declined 25.25 per cent compared to September, according to a statement issued by the exchange. Of the total gas traded during the month, domestic high-pressure, high-temperature (HPHT) gas accounted for 24.12 per cent, with the entire volume purchased by city gas distribution (CGD) companies to meet demand for piped natural gas (PNG) and compressed natural gas (CNG). The remaining 75.88 per cent comprised free-market gas.
Record-Breaking Intraday Activity
The exchange also recorded its highest-ever single-day intraday trading volume during the month. “IGX recorded its highest-ever single-day intraday trade volume in October 2026 with 0.30 Mn MMBtu traded,” the release said.
Power Sector Demand Analysis
The power sector emerged as the largest consumer of free-market gas, accounting for 5.69 million MMBtu out of the 10.08 million MMBtu traded in this category. Demand was particularly strong during the first half of October. “Of the 10.08 Mn MMBtu of free market gas traded in October, the power sector accounted for 5.69 Mn MMBtu, with strong demand witnessed during the first half of the month,” the exchange said.
Contract Breakdown
Of the gas traded by the power sector, 57.22 per cent was under balance-of-month contracts, while intraday and day-ahead contracts accounted for 27.48 per cent. The remaining 15.30 per cent was traded through fortnightly contracts.
Market Operations and Pricing
Separately, producers traded nearly 15.43 million standard cubic metres of domestically produced gas with pricing freedom from the Jaya, Hazira-ONGC, Suvali and Bokaro coal bed methane (CBM) blocks. IGX recorded gas deliveries of 15.05 million MMBtu during October, equivalent to 12.23 million metric standard cubic metres per day (MMSCMD).
On the price front, the exchange’s benchmark Gas Index of India (GIXI) stood at Rs 2,471 (USD 25.87) per MMBtu in October, rising 154.44 per cent year-on-year. However, it declined to 8.89 per cent compared to September.
The exchange operated across 19 delivery points as of October 2026, covering LNG terminals, pipeline interconnection points and domestic gas field landfall locations. Dahej recorded the highest trading volumes in the free-market category during the month.
As of October 31, 2026, IGX offered 12 standardised natural gas contracts, covering fixed-price intraday to monthly products, as well as term-ahead and index-linked contracts with durations of three months, six months, one year and two years.
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