The Indian Gas Exchange (IGX) reported a robust performance in May 2026, with traded gas volumes reaching 10.75 million MMBtu (271.12 MMSCM), registering a growth of 26.01% month-on-month (MoM) and an impressive 130.39% year-on-year (YoY). The surge in trading activity was primarily driven by increased gas demand from the power sector amid rising electricity consumption.
According to IGX, around 40.10% of the total traded volume consisted of domestic High Pressure High Temperature (HPHT) gas sold at the government-notified ceiling price and procured by City Gas Distribution (CGD) companies to meet demand for domestic PNG and transport CNG. The remaining 59.90% comprised free-market gas transactions.
During the month, approximately 17.96 MMSCM of domestically produced gas with pricing freedom was traded on the exchange. The gas was supplied from key production points including Bokaro (CBM), Jaya, Suvali and ONGC’s Hazira delivery points.
Exchange-traded gas deliveries stood at 9.76 million MMBtu, translating to nearly 7.94 MMSCMD during May.
The Indian Gas Exchange’s benchmark price index, GIXI, averaged ₹1,768 per MMBtu ($18.49/MMBtu) in May 2026, marking an increase of 12.11% MoM and 73.91% YoY. The rise in prices reflected stronger demand fundamentals, particularly from the power generation segment.
Regionally, GIXI-West stood at ₹1,775 per MMBtu ($18.57/MMBtu), broadly in line with the all-India benchmark. Meanwhile, GIXI-East remained significantly lower, trading at a discount of 16.93% compared to the national benchmark. The GIXI-Dahej index averaged ₹1,763 per MMBtu ($18.40/MMBtu), up 15.83% from the previous month and trading at a 10.86% discount to the settled WIM-Ex Dahej price for May 2026.
The exchange also expanded its membership base during the month with the addition of Trafigura India Private Limited as a new proprietary member, taking the total number of registered members on the platform to 55.
IGX currently facilitates gas trading across 18 delivery points, including six LNG terminals, nine domestic gas field landfall points and three pipeline interconnection locations.
The exchange offers a diverse range of delivery-based natural gas contracts, including Intraday, Day-Ahead, Daily, Weekday, Weekly, Fortnightly, Monthly contracts (up to 12 months), Balance of Month contracts, as well as long-duration contracts of three and six months linked to benchmarks such as GIXI, JKM, WIM and Dated Brent.
Industry observers note that growing participation, increased liquidity and rising gas demand from sectors such as power and city gas distribution continue to strengthen the role of exchange-based gas trading in India’s evolving natural gas market.
