India's Gas Consumption To Double By 2040, Rise 60% By 2030: PNGRB

(MENAFN- KNN India) New Delhi, Jun 12 (KNN) India's natural gas consumption is projected to rise significantly over the next two decades, with demand expected to grow by around 60 percent by 2030 and more than double by 2040, according to the Petroleum and Natural Gas Regulatory Board (PNGRB).

The growth trajectory reflects expanding usage across multiple sectors, including compressed natural gas for automobiles, household cooking applications, and industrial processes.

The regulatory board's analysis indicates that natural gas consumption 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 the "Good-to-Go" scenario, which assumes moderate growth based on existing trends and commitments.

Under this baseline projection, consumption is expected to reach 496 million standard cubic meters per day by 2040.

An accelerated growth scenario termed "Good to Best," which incorporates enhanced policy implementation and increased investment levels, projects consumption reaching 365 million standard cubic meters per day by 2030 and 630 million standard cubic meters per day by 2040.

The study attributes this expansion to India's growing energy requirements and natural gas positioning as a cleaner alternative compared to other fossil fuels.

City gas distribution systems, encompassing both compressed natural gas supply to vehicles and piped gas delivery to residential and industrial consumers, are projected to generate the primary demand increase.

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.

The analysis suggests that increased global liquefied natural gas availability presents opportunities for securing long-term supply arrangements, potentially leading to more favorable pricing structures as market supply expands to meet growing international demand.

(KNN Bureau)

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