India’s Natural Gas Consumption to See 60% Jump by 2030

SEATTLE (Oil Monster): According to a recent study by the Petroleum and Natural Gas Regulatory Board (PNGRB), the natural gas consumption in India is projected to witness 60% surge by 2030. The government’s resolve to reduce dependence on oil imports by witching to cleaner fuels is being cited as the reason for the projected significant jump in natural gas consumption.

Assuming a moderate growth and development, the natural gas consumption is expected to rise from 188 million standard cubic metres per day (mmscmd) in 2023-24 to 297 mmscmd by 2030.Under the same scenario, the consumption is projected to record further rise to 496 mmscmd by 2040, , the report said.

Currently, the share of natural gas in the country’s primary energy basket is only around 6-6.5%. The government aims to more than double the share to around 15% by 2030. This is part of efforts by the government to accelerate shift from fossil fuels to clean energy, thereby helping the country achieve its goal of net zero emission by 2070.

The primary driver of the projected growth will be the City Gas Distribution (CGD) sector, whose consumption is projected to grow multi-folds by the end of the current decade. The petrochemical sector also is likely to emerge as a major contributor.