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

Senior Citizen Fixed Deposits offering highest interest rates in March 2025 – Compare rates

Fixed deposits (FDs) have been a go-to investment choice in India for quite some time, particularly among senior citizens who prioritize financial stability and a consistent income. To meet the needs of this age group, Senior Citizen FDs provide better interest rates along with a range of other benefits. Before you jump into these investment

Mcap of five of top-10 most valued firms declines Rs 93,000 crore; Infosys, TCS hit hard

The combined market capitalisation of five of the top-10 most valued firms declined by Rs 93,357.52 crore, with IT giants Infosys and Tata Consultancy Services taking the biggest hit, in line with a weak trend in domestic equities. Last week, the BSE Sensex benchmark declined 503.67 points or 0.68 per cent, and the NSE Nifty

US Fed interest rate decision, tariff-related developments to drive mkt movement this week: Analysts

The US Fed interest rate decision, global trends, tariff-related developments and trading activity of foreign investors will drive the equity market movement this week, analysts said. Among macroeconomic data announcement, WPI inflation for February is scheduled to be announced on Monday. “Persistent uncertainties surrounding global trade and the fear of a US recession may continue

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Senior Citizen Fixed Deposits offering highest interest rates in March 2025 – Compare rates

Fixed deposits (FDs) have been a go-to investment choice in India for quite some time, particularly among senior citizens who prioritize financial stability and a consistent income. To meet the needs of this age group, Senior Citizen FDs provide better interest rates along with a range of other benefits. Before you jump into these investment

Mcap of five of top-10 most valued firms declines Rs 93,000 crore; Infosys, TCS hit hard

The combined market capitalisation of five of the top-10 most valued firms declined by Rs 93,357.52 crore, with IT giants Infosys and Tata Consultancy Services taking the biggest hit, in line with a weak trend in domestic equities. Last week, the BSE Sensex benchmark declined 503.67 points or 0.68 per cent, and the NSE Nifty

US Fed interest rate decision, tariff-related developments to drive mkt movement this week: Analysts

The US Fed interest rate decision, global trends, tariff-related developments and trading activity of foreign investors will drive the equity market movement this week, analysts said. Among macroeconomic data announcement, WPI inflation for February is scheduled to be announced on Monday. “Persistent uncertainties surrounding global trade and the fear of a US recession may continue

Flexi cap funds vs Multi cap funds: Which is an appropriate choice during volatile times

In September 2024, I wrote a piece, ‘Flexi Cap Funds v/s Multi Cap Funds: Which Is Better at a Market High?’. The valuations of the Indian equity market then were exceptionally high: the BSE SmallCap P/E and BSE MidCap P/E were at around 36x and 34x, respectively, while the BSE LargeCap Index was nearly 26x.

Top 10 mutual funds holding IndusInd Bank may take a Hit: Do you own these?

Indian banking has witnessed various challenges over the last few years, from mounting non-performing assets (NPAs) to regulatory action and issues of corporate governance. Banks are generally considered pillars of country’s financial stability, and thus any disruptions within prominent banks could have extensive ramifications. Institutional investors, regulators, and analysts are keenly watching such events because