India’s Natural Gas Consumption to Double by 2040

SEATTLE (Oil Monster): According to the Petroleum and Natural Gas Regulatory Board (PNGRB), India’s natural gas consumption is projected to rise significantly over the next two decades. The demand is expected to surge by around 60% by 2030 and more than double by 2040. The projected demand rise is mainly on account of increasing demand across multiple sectors.

The PNGRB analysis suggests that natural gas consumption in the country will increase from the current level of 187 million standard cubic meters per day in 2023-24 to 297 million standard cubic meters per day by 2030, under moderate growth circumstances. Also, the consumption is expected to reach 496 million standard cubic meters per day by 2040.

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Under an accelerated growth scenario, the natural gas consumption is projected to reach 365 million standard cubic meters per day by 2030 and 630 million standard cubic meters per day by 2040. 

Under the baseline scenario, city gas distribution will contribute 50 million standard cubic meters per day of the 110 million standard cubic meters per day incremental demand by 2030, and 129 million standard cubic meters per day of the 198 million standard cubic meters per day incremental demand between 2030 and 2040.