GIXI at ₹1,023 in July; Down 8% YoY, Up 3% MoM

Indian Gas Exchange’s benchmark price index, GIXI® GIXI® for July 2025 was Rs 1023/$11.9 per MMBtu, down by 8% YoY & up by 3% MoM. The price stability was driven by a price correction in the international market and a continued low demand for gas, particularly from the power sector. The international prices also witnessed a decline in July’25 as compared to June’25 with European & Asian spot gas benchmarks TTF at $11.7 /MMBtu (10% down MoM, 13% up YoY), WIM at 13.1 $/MMBtu & US HH at $3.3/MMBtu (10% down MoM & 48% up YoY).

GIXI®-West was ₹1025/$11.9/ MMBtu, similar to GIXI®-All India, whereas GIXI®- East and South  was lower by 3% and 1% respectively due to transmission & tax differential. GIXI® – Dahej (July-25) was ₹1009 or $11.7 / MMBtu, 3% up MoM. GIXI®-Dahej was at a discount of $1.7/MMBtu (i.e. 15%) compared to WIM-Ex Dahej settled price for July 2025.

IGX achieved monthly trade gas volume of 4.1 million MMBtu (105 MMSCM) in July’25, marking an increase of 3% MoM and 2% YoY basis due to higher domestic gas sales from gas producers. Around 47% of traded volumes were free market gas & 53% domestic HPHT gas at ceiling price (₹867 or $10.04/MMBtu). Nearly 5 MMSCM domestic gas having pricing freedom were traded at Bokaro (CBM), KG Basin & Hazira-ONGC delivery points.

A total of 116 trades were executed in July’25. The most active delivery point for free market gas was Dahej & Gadimoga for Ceiling Price gas. Other active delivery points were- Jaya, Mhaskal, KG Basin, Bokaro, Dabhol, Hazira, & Hazira - ONGC. During the month, 43 trades were executed in the Fortnightly, followed by 28 trades in Monthly, 16 trades in Day-Ahead, 11 trades in Intraday, 9 trades in Daily and 9 trades in Weekly contracts respectively.

Exchange traded deliveries were 6.3 million MMBtu (~5.1 MMSCMD) during the month.

Sanron Energy Private Limited joined as a new proprietary member during the month, bringing the total number of registered members to 51. IGX currently offers trades at 21 delivery points including 6 LNG terminals, 12 domestic gas field land fall points and 3 pipeline interconnections.