India LNG Market to Grow at a CAGR of over 17% During Forecast Period

Growing demand from various end user industries such as power, fertilizers, industrial and city gas distribution to drive demand for LNG in India through 2030

According to TechSci Research report, “India LNG Market By Source, By Application, By Region, Competition, Forecast & Opportunities, 2030”, India LNG market is anticipated to grow at double digit growth rate over the next ten years on account of growing investments in setting up of new LNG terminals and cost effectiveness of natural gas over other fuel alternatives.

Oil & gas is one of the eight core sectors of India and LNG finds majority applications in end user industries such as fertilizers, city gas production (CGD) and power. During FY2018-19, consumption of liquefied natural gas in the country was close to 148 MMSCMD. However, domestic natural gas production in India is low, being close to 90 MMSCMD, therefore, over 50% of the natural gas is imported from several countries like Australia, US and Qatar, among others.

Rising concerns pertaining to the use of cleaner energy is one of the major reasons for the increasing consumption of gas. Additionally, on account of development of transmission and distribution infrastructure, the demand is likely to increase further over the coming years. The government is also focusing on the expansion of gas pipeline as of February 2019 pipeline infrastructure stood at 16,200 km and is in plans to be extended to 27,400 km by 2025.

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India LNG market can be segmented based on source, application and region. Based on application, market can be classified into fertilizers, power, city gas distribution, petrochemicals, utilities, and manufacturing, among others. Power is the dominant application segment in the market as it is used for power generation.

Major companies operating in the economy include Petronet LNG Limited, GAIL(India) Limited, Royal Dutch Shell plc, Adani Ports and Special Economic Zone Limited, Indian Oil Corporation Limited, H-Energy Private Limited, Total S.A., GSPC LNG Limited,       Bharat Petroleum Corporation Limited, JSW Infrastructure, Essar Ports Ltd, among others. The companies operating in the market are engaging in long term contracts for the import of gas. For instance, GAIL signed a 20-year contract with Cheniere Energy and Dominion for the import of gas from the United States starting 2017 and 2018 respectively. Recently, Petronet invested $ 2.5 billion for the import of natural gas from the United States for 4 decades.

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“On account of growing pollution levels which can be attributed to the high consumption of coal and crude oil, the government is focusing on carbon emissions by doubling the percentage of energy mix to 15% by 2022. Furthermore, in order to fulfil the growing demand for natural gas, government is adopting several policies including 100% FDI in petroleum and natural gas production, which is anticipated to drive the growth of the India LNG market until 2030.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India LNG Market By Source, By Application, By Region, Competition, Forecast & Opportunities, 2030” has analyzed the potential of LNG market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India LNG market.

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