India’s natural gas demand to rise 60% by 2030, says IEA

India’s natural gas demand is forecast to increase by nearly 60% by 2030 putting the country’s projected gas demand on a par with some of the world’s largest consumers, the International Energy Agency (IEA) said on Wednesday.

The agency released its report on India gas market outlook to 2030 during the India Energy Week here. According to the report, the country’s gas consumption is set to reach 103 billion cubic metres (bcm) annually by the end of the decade. “Following over a decade of slow growth and periodic declines, India’s natural gas demand increased by more than 10% in both 2023 and 2024, indicating an inflection point,” it said.

Double counting of SEZ transactions inflated gold import figures

“India’s gas market is entering a new phase of growth, supported by significant infrastructure development and clear policy direction,” IEA director of energy markets and security Keisuke Sadamori said. The projected rise in gas demand comes in line with an expected wave of new global LNG supply. “However, it will require careful planning and market coordination to ensure supply security and to help gas to compete in a price-sensitive market,” he said. The agency highlighted three key factors supporting this substantial growth — rapid infrastructure expansion, recovering domestic production, and an expected easing of global gas market conditions.

Infrastructure development is playing a crucial role in enabling the country’s market growth. Since 2019, India has almost quadrupled its number of compressed natural gas (CNG) stations and more than doubled the number of residential gas connections, while extending its transmission pipeline network by 40%. IEA expects the number of CNG stations and residential connections to nearly double again by 2030, with the gas transmission grid expanding by an additional 50%.

The city gas distribution sector is expected to lead consumption growth in India between now and 2030, supported by rapid CNG infrastructure expansion and competitive pricing against liquid fuels. The heavy industry and manufacturing sectors 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 connect to the network, as per IEA’s projections. The country’s domestic gas production, which met 50% of demand in 2023, is projected to grow gradually, reaching just under 38 bcm by 2030, at around 8% above 2023 levels. 

 » Read More

Related Articles

Ashish Kacholia’s Latest Stock Pick starts with a 2.53% Stake

Thomas Scott India Ltd (TSIL) Thomas Scott (India) Limited formed in October 2010 to acquire Bang Overseas Limited’s Retail Division under the “Thomas Scott” brand. The demerger, effective April 1, 2011, was finalized on August 5, 2011. The company was listed on NSE and BSE in January 2012. With a current market cap of Rs

Nuvama sees 96% upside in PVR Inox

Chhatrapati Shivaji Maharaj played a key role in reviving nationalism and the brokerage firm Nuvama Institutional Equities believes that the movie Chhava, based on his son’s achievements has revived the spark in Indian cinema. Following the stupendous box office collection for Chhaava, Nuvama expects a 96% upside in PVR Inox’s share price.  It has a target of Rs 1,765 on the

NMDC dividend payout: Check record date and 4 key factors that investors need to watch

NMDC has announced its first interim dividend for FY25. As India’s largest iron ore producer rolls out fresh payouts, its stock performance remains key points of interest. Dividend announcement and record date NMDC has declared an interim dividend of Rs 2.30 per share with a face value of Rs 1. The record date for eligibility

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Ashish Kacholia’s Latest Stock Pick starts with a 2.53% Stake

Thomas Scott India Ltd (TSIL) Thomas Scott (India) Limited formed in October 2010 to acquire Bang Overseas Limited’s Retail Division under the “Thomas Scott” brand. The demerger, effective April 1, 2011, was finalized on August 5, 2011. The company was listed on NSE and BSE in January 2012. With a current market cap of Rs

Nuvama sees 96% upside in PVR Inox

Chhatrapati Shivaji Maharaj played a key role in reviving nationalism and the brokerage firm Nuvama Institutional Equities believes that the movie Chhava, based on his son’s achievements has revived the spark in Indian cinema. Following the stupendous box office collection for Chhaava, Nuvama expects a 96% upside in PVR Inox’s share price.  It has a target of Rs 1,765 on the

NMDC dividend payout: Check record date and 4 key factors that investors need to watch

NMDC has announced its first interim dividend for FY25. As India’s largest iron ore producer rolls out fresh payouts, its stock performance remains key points of interest. Dividend announcement and record date NMDC has declared an interim dividend of Rs 2.30 per share with a face value of Rs 1. The record date for eligibility

Stock Market Live Updates: Nifty, Sensex set to open higher; Asian markets trade in green

Go to Live UpdatesSensex Nifty Today | Stock Market Live Updates: Indian markets are set to open on a positive note today, taking cues from early trends in GIFT Nifty. Asian stocks also kicked off the day in the green, reflecting optimism from Wall Street’s overnight rally. Major indices across Japan, South Korea, and Australia

How will markets open today? Fed meeting, soaring gold rate and 6 more cues to watch

Markets are gearing up for a positive start today, with early signals from Gift Nifty pointing upwards. Global factors, including Wall Street trends and key economic updates, will set the tone for the day. On March 17, Indian stock markets ended on a strong note, with the Sensex rising 0.46% to 74,169.95 and the Nifty