Quick readThe Indian Gas Exchange (IGX) recorded a traded gas volume of 13.28 million MMBtu (334.59 MMSCM) in October 2026, registering a 326.03% year-on-year increase, although volumes declined 25.25% compared with September. The exchange executed 221 trades during the month, while its benchmark gas price index, GIXI, stood at ₹2,471 ($25.87) per MMBtu.
Domestic HPHT gas accounted for 24.12% of the total traded volume, with City Gas Distribution (CGD) companies procuring the entire quantity to meet their PNG-D and CNG-T requirements. The remaining 75.88% comprised free-market gas. Producers also traded nearly 15.43 MMSCM of domestic gas with pricing freedom from the Jaya, Hazira-ONGC, Suvali and Bokaro CBM blocks.
Of the 10.08 million MMBtu of free-market gas traded during October, the power sector accounted for 5.69 million MMBtu, reflecting strong demand during the first half of the month. Balance-of-month contracts contributed 57.22% of power-sector volumes, while intraday and day-ahead contracts accounted for 27.48% and fortnightly contracts made up the remaining 15.30%.
IGX also recorded its highest-ever single-day intraday trading volume during the month, with 0.30 million MMBtu traded. Total exchange-traded deliveries stood at 15.05 million MMBtu, equivalent to 12.23 MMSCMD.
The GIXI benchmark declined 8.89% month-on-month despite remaining 154.44% higher than its October 2025 level. Regionally, GIXI-West stood at ₹2,468 ($25.84) per MMBtu, down 9.86% from September, while GIXI-East was recorded at ₹2,488 ($26.05) per MMBtu, marking a 26.81% monthly increase. The GIXI-Dahej index stood at ₹2,359 ($24.70) per MMBtu, down 4.76% month-on-month.
During October, IGX expanded its product portfolio with the launch of one-year and two-year gas contracts, allowing market participants to secure supplies over longer durations through a transparent price-discovery mechanism. The exchange also introduced a regasification capacity booking platform to facilitate transparent and efficient access to unutilised capacity at LNG terminals.
As of October 2026, IGX operated across 19 delivery points, including LNG regasification terminals, pipeline interconnection points and domestic gas field landfall points. Dahej recorded the highest free-market trading volumes during the month.
The exchange offered 12 standardised natural gas contracts as of October 31, 2026. These included fixed-price products covering intraday, day-ahead, daily, weekly, weekday, fortnightly, monthly and balance-of-month deliveries, alongside index-linked term-ahead contracts with three-month, six-month, one-year and two-year tenures.
