The International Energy Agency (IEA) has released the "India Gas Market Report: Outlook to 2030." The report suggests policy reforms as India seeks to boost the share of cleaner natural gas in its energy mix to 15% by 2030, up from the current 6%.
Key Findings:
India's Gas Consumption: Expected to grow by 60% by 2030, with the City Gas Distribution (CGD) sector driving the demand increase. The CGD sector distributes natural gas to households and industries via pipelines.
India's Gas Production: Reached 35 billion cubic meters (bcm) in 2023, with the Krishna-Godavari deepwater fields accounting for a quarter of the total output.
Imports: India is the world’s fourth-largest importer of LNG, and imports are projected to more than double by 2030.
Compressed Biogas (CBG): The sector’s potential remains largely untapped, with current capacity under 1% of its full potential.
Challenges Facing India's Gas Sector:
Pricing Issues: Gas prices from legacy fields are capped at approximately USD 10 per million British thermal units (MMBtu), which limits full price discovery. Similarly, prices from high-cost fields, such as deepwater projects, are restricted.
Market Dynamics: The state-owned Gas Authority of India Limited (GAIL) controls both gas marketing and pipeline transmission, which could lead to potential conflicts of interest.
Storage Limitations: India faces a lack of underground gas storage (UGS) and has limited LNG storage capacity.
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