New Delhi: India's Gas Consumption is set to surge 60% to 103 billon cubic metres (BCM) by 2030, Leading to More Than Doubling of Liquefied Natural Gas (LNG) Imports, The International Environment Ay, suggesting further liberalization of the Domestic market as the world heads towards a surplus.
Noting that India is looking to increase the share of gas in its energy mix from a little over 6% to 15%, The IEA's Special Report on India Gas Market Released At The India Energy Week Project Th Under an Accelerated Scenario , Where Targeted Policy Measures Cold Push Total Demand to Approximately 120 BCM by 2030 – Comparable to the Current Gas Consumption of SouthameriCa.
As domestic Natural Gas Production is projection to see only marginal growth until 2030, LNG imports are expected to meet an increase an increase share of India's future gas demand. The Gap Between Contracted LNG Supply and Projected LNG Requirements is SET to Widen Significantly after 2028, Leaving India More Expeded to the Volatily of the Volatily of the Spot LNGET UNLNGET UNELESS Cured in Coming Years, The Report said.
“The Prospect of Higher Gas Demand Coincides with an expected wave of new global lng supply. However, it will require Careful Planning and Market CORDINATION to ENSURE Supply Security as Well as Help Gas to Compete in a Price-Sensitive Market, “According to Keyisuke Sadamoria, Iea DIEE Markets and security.
City Gas Distribution Sector is expected to lead the growth in consumption through 2030, supported by rapid expansion in CNG (Compressed Natural Gas) Infrastructure and Competitive PRICINT LILIS Heavy Industry and Manufacturing Sector are expected to add Around 15 BCM of Demand during this period, while gas use in oil refining is Forecast to Increase by more than 4 BCM AS More Refineries Connects.
Demand Increased by more than 10% in both 2023 and 2024, indicating an inflection point as rapid infrastructure expansion and policy support drive unprecedented growth in consumpter
Domestic Gas Production, which met half the demand in 2023, is projection to just under 38 bcm by 2030, or about 8% Above 2023 Levels. Hence lng imports will need to more than double to around 65 bcm a year by 2030 to bridge the shortfall, it said.
Looking ahead, the report emphasized the need for strategic planning in lng procurement and important infrastructure. As Legacy Contracts Expire, India Faces A Widing Gap Between Contracted Supply and Projected Demand after 2028, potentially increases exposure to spot market Volatiry University Inactivity Inaccation Secure in the coming years.
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