Indian gas trading surged 72% in first half of 2026, driven by power demand and market growth.

The Indian Gas Exchange (IGX) reported a 72% surge in gas trading volume in the first half of fiscal year 2026, reaching 40.7 million MMBtu, driven by rising power sector demand and increased market participation. Free-market gas accounted for 42% of trades, while 58% was domestic HPHT gas sold at government ceiling prices. Monthly contracts dominated, with Gadimoga and Dahej as top delivery points. In September 2025 alone, trading hit 5.8 million MMBtu, up 88% year-on-year, with 81% from the free market. The GIXI benchmark price was Rs. 1,040 (USD 11.8/MMBtu), down 9% annually but up 3% monthly. Regional prices varied due to taxes and transport costs. IGX also signed a MoU with Europe’s PRISMA to boost transparency in cross-border gas trading.