New Delhi: India’s natural gas consumption is likely to rise by close to 60 per cent by 2030 and more than double by 2040, on the back of rise in usage of the fuel as CNG in automobiles and for cooking and industrial purposes, according to a study by oil regulator PNGRB.
Consumption of natural gas, which is used to produce electricity, make fertilizer or turned into CNG for running automobiles and piped to household kitchens for cooking, is expected to rise from 187 million standard cubic metres per day in 2023-24 to 297 mmscmd by 2030 under ‘Good-to-Go’ scenario, the study by Petroleum and Natural Gas Regulatory Board (PNGRB) said.
‘Good-to-Go’ scenario assumes moderate growth and developments based on current trends and commitments.
Consumption of natural gas is projected to rise to 496 mmscmd by 2040 under the same scenario.
Under the ‘Good to Best’ scenario that considers accelerated progress, favourable policy implementation, and enhanced investments leading to higher-than expected growth, consumption could rise to 365 mmscmd by 2030 and 630 mmscmd by 2040.
“India’s energy demand is expected to keep growing. Natural gas being a convenient, clean and cheap (alternative) with respect to other fossil fuels is likely to grow,” it said.