The fast paced economic growth of Indian economy has led to an ever increasing demand of energy. Currently, India is the third largest energy consumer in the world after China & USA. India’s energy requirements are majorly fulfilled by coal, crude oil, natural gas and other sources.
Industries and other economic sectors are becoming more and more conscious towards emissions and understands the impact of businesses on environment and health. This brings about a shift in the energy consumption pattern from existing high polluting fuel to cleaner fuels which are less polluting in nature.
Natural Gas is one of the cleanest fuels, is easily available in India and with an equivalent calorific value, it acts as a catalyst for energy transition from existing high polluting fuels.
The Government of India’s focus on making India a gas based economy has led to the advancements in domestic gas production and increase in LNG import. Natural gas availability and consumption has seen a rapid growth over the past decade.
The gas consumption for the years 2018-2019 & 2019-2020 have been 166.57 MMSCMD & 175.74 MMSCMD respectively. The consumption for year 2020-21 is slated to be ~165 MMSCMD.
Under the Government of India’s Vision 2030, natural gas consumption targets are set at 474 MMSCMD by 2029-30 which would reflect as 15% of the country’s total energy consumption. Changes in the energy consumption pattern would help the country to reduce harmful gas emissions and carbon footprint thereby enhancing the environment quality & sustainability.
The support of the Government of India in the form of policy reforms & initiatives, reduced bottlenecks and improved infrastructure is enabling increase in consumption of natural gas and has built energy security for various economic and commercial sectors.