India's Nat Gas to triple India’s Natural Gas Consumption Set To Triple by 2050
By Charles Kennedy - Feb 14, 2024, 4:30 PM CST
India's industry expansion and rising oil refining to meet higher fuel demand are set to drive a tripling of the country's natural gas consumption by 2050, the U.S. Energy Information Administration (EIA) said on Wednesday.
In 2022, India's natural gas consumption amounted to 7.0 billion cubic feet per day (Bcf/d), with over 70% of the demand coming from the industrial sector. By 2050, India's natural gas consumption is set to more than triple to 23.2 Bcf/d, according to EIA's estimates.
Among India's five consuming sectors, the industrial sector's share of gas consumption will grow the most, rising to 80% of total consumption, followed by the transportation sector rising to 10%.
India's gas consumption in oil refining is expected to grow significantly to keep up with India's domestic demand for oil products, the EIA notes. By 2050, gas consumption will surge by more than 250% for the production of basic chemicals and by more than 400% for refining, with the two industries together accounting for about 79% of India's industrial natural gas demand in 2050.