India’s Natural Gas Consumption Projected to Double by 2040

SEATTLE (Oil Monster): Natural gas consumption is projected to double from 65 bcm in 2023 to 113.7 bcm by 2040.

A growing population, rapid economic development, and a stronger shift toward cleaner energy are driving this surge.

Natural Gas Consumption – Domestic Production vs. Rising Demand

Domestic gas production is projected to rise by 51% from 2020 levels, reaching 36.7 bcm by 2025.

India is the fourth-largest importer of LNG and depends on imports for about half of its natural gas needs.

Opportunities with Middle Eastern Producers

Kaushal Ramesh, V,  Rystad Energy, highlighted that India has a significant opportunity to secure future energy supplies from Middle Eastern producers.

Sectoral Drivers of Increased Demand

The expanding CGD network and fertilizer industry will fuel the rise in natural gas consumption.

Urea production, relying heavily on natural gas, touched 30 million tons in 2023, pointing to potential growth.

Refining Capacity and Infrastructure Expansion

Refining capacity will increase to 335 mtpa by 2030.

CGD network grew rapidly, with CNG stations increasing more than fivefold from 2015 to 2023, and PNG connections quadrupled to 12 million. 

Nationwide Coverage of CGD Network

As reported by knnindia.co.in, CGD bidding rounds will extend the network across India.

Courtesy: www.chemindigest.com