India's Natural Gas Consumption To Surge Nearly 60% By 2030: PNGRB Study

(MENAFN- KNN India) New Delhi, Apr 11 (KNN) India's natural gas consumption is projected to rise by nearly 60 per cent by 2030, driven by increased use in automobiles, households, and industries, according to a recent study by the Petroleum and Natural Gas Regulatory Board (PNGRB).

Consumption is expected to grow from 188 million standard cubic metres per day (mmscmd) in 2023-24 to 297 mmscmd by 2030 under the 'Good-to-Go' scenario, which assumes moderate growth based on current trends.

By 2040, this could further rise to 496 mmscmd. In a more optimistic 'Good-to-Best' scenario, consumption could reach 365 mmscmd by 2030 and 630 mmscmd by 2040.

The city gas distribution (CGD) sector will lead this surge, with CNG and piped natural gas usage projected to grow 2.5 to 3.5 times by 2030. CGD alone is expected to contribute 50 mmscmd of the 110 mmscmd incremental demand by 2030.

This growth aligns with India's target of increasing the share of natural gas in its energy mix from around 6.5 per cent to 15 per cent by 2030, as part of its transition to cleaner energy.

Other sectors such as refineries, petrochemicals, and fertilisers are also expected to contribute to demand growth. Power generation will grow moderately due to its price sensitivity.

India, which currently meets about half of its gas needs through imports, will rely increasingly on LNG. Imports are set to more than double by 2030, with LNG trucking also projected to rise, potentially replacing diesel in long-haul transport.

However, the study cautions that achieving these targets will depend on continued infrastructure development, supportive policies, and stable global gas prices.

(KNN Bureau)

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