The share of LNG in India’s gas consumption could rise to 70% from the present 50% in 10 yr, and new import terminals are needed, according to LNG import terminal operator Petronet LNG Ltd. Prime Minister Narendra Modi has set a target to raise the share of natural gas in the country’s energy mix to 15% by 2030 from 6.3% to cut its carbon footprint.
To meet that target, India’s gas consumption must rise to 640 MMsm3d from 155 MMsm3d. Indian companies are investing billions of dollars to strengthen gas infrastructure, including laying 15,000 km of pipelines to supply cleaner fuel to households and industries. India has 17,000 km of gas pipeline network at present.
Furthermore, LNG projects with a collective capacity of 19 metric MMtpy are under construction, and plans are in the works to increase the use of LNG in trucks and buses. Replacing approximately 30% of India’s crude oil imports with LNG would save $10 B at a global oil price of $74/bbl.