Press Release: Gas Market Update: Sep'22

MEDIA RELEASE: GAS MARKET UPDATE, SEPTEMBER 2022

• IGX TRADES 14.91 LAC MMBTU GAS VOLUME IN SEPTEMBER'22, CLOCKS 414% YoY GROWTH
• RS 2,682 /$33.5 /MMBTU PER MMBTU: AVG. PRICE FOR GAS DELIVERIES IN SEPTEMBER'22 (EXCLUDING CEILING PRICE GAS)
• Q2 FY23 VOLUME AT 59,38,350; GROWS 501% YoY & 44% QoQ
• RECORD DOMESTIC CEILING PRICE GAS VOLUME TRADE AT 7.96 LAC MMBTU
• RGPPL, BHEL, COROMANDEL INTERNATIONAL JOIN IGX AS NEW CLIENTS

New Delhi, Monday, 3 September 2022:

The Indian Gas Exchange (IGX) traded 14,91,700 MMBtu (~38 MMSCM) gas volume in September 2022, registering 414% YoY growth from 2,90,000 MMBtu traded in September'21. It declined by 15.7% from last month, August,2022.

IGX traded 59,38,350 MMBtu gas volume in Q2 FY2023, with 501% growth on YoY and 44% growth on QoQ basis.

In this Quarter, trades at Western Hub accounted for most of volume, where active delivery points were - Dahej, Ankot, Mashkal, Bhadbhut, Suvali. IGX traded in all contracts during the month: Day-ahead, Daily, Weekday, Weekly, Fortnightly and Monthly- forward. Daily contract was the most active contract, whereas Monthly-Forward had the maximum trade volume.

The average gas price discovered at the Exchange during September 2022 was Rs 2,682 /$33.5 per MMBtu. Different spot gas benchmark prices were: HH about $8/MMBtu and TTF at ~$56/MMBtu; LNG benchmark indices were - WIM ~40 $/MMBtu and NW Europe DES ~$55/MMBtu. The prices discovered at IGX have been reflective of India's inland gas demand and supply, including the RLNG long-term, spot, and domestic gas prices. IGX Price Index (Western Hub) rose by 13 % MoM due to increased prices in international markets, led by geo-political factors.

At 7,96,700 MMBtu, IGX traded record single-day domestic ceiling price gas at $12.46/MMBtu during the month. The Exchange witnessed participation from more than 50 buyers, comprising various sectors such as CGDs, Petrochemical, Power, Glass, Ceramics, Aluminium, Marketers etc.

During the month, Ratnagiri Gas Power Plant, BHEL, Coromandel International, joined IGX as new clients.

A quick summary of the gas market during September'22 is as below:

September 2022

• Total traded volume: 14,91,700 MMBtu

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• Total delivered volume: 9,79,250 MMBtu
• Record domestic ceiling price gas traded: 7,96,700 MMBtu

July - September 2022

• Total traded volume: 59,38,350 MMBtu
• Total delivered volume: 52,12,950 MMBtu
• Domestic ceiling price gas traded: 15,93,400 MMBtu

IGX currently offers delivery-based trade in six different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly under which the trade can be executed for six consecutive months. The gas trade takes place at multiple delivery points, such as - Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin. It covers six regional gas hubs, namely, Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, and North Eastern Hub across India.

Note: The delivered volumes and price excludes domestic ceiling price gas.

ABOUT IGX

Established in 2020, the Indian Gas Exchange Limited (IGX) is India's first automated national-level Gas Exchange for physical delivery of natural gas. The Exchange envisions to architect India as a market-based gas economy. Powered by the state-of-the-art technology, the Exchange provides a neutral and transparent marketplace to multiple buyers and sellers to trade in the spot and forward gas contracts at designated physical hubs. IGX is an Associate Company of the Indian Energy Exchange Limited. The Exchange is authorized and regulated by Petroleum and Natural Gas Regulatory Board.

For further details, log on to:www.igxindia.com

Ms. Aparna Garg

Head - Corporate Communications Telephone: [phone] Email: [e-mail]

Mr. Suhas Tadas

The PRactice (On behalf of IEX) Telephone: [phone]Email:[e-mail]

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