The share of liquefied natural gas (LNG) in India’s gas consumption could rise to 70% from the current 50% in 10 years, and new import terminals are needed, the chief executive of the country’s top gas importer said.
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 the current 6.3% to cut its carbon footprint.
To meet that target India’s gas consumption needs to rise to 640 million standard cubic metres a day (mmscmd) from the current 155 mmscmd, AK Singh, chief executive of Petronet LNG, said at ET Energy Leadership summit.
Huge invesments by Indian cos
Indian companies are investing billions of dollars to strengthen gas infrastructure, including laying 15,000-kilometer pipelines to supply cleaner fuel to households and industries. India currently has 17,000 kms of gas pipeline network.
Also, LNG projects of 19 million tonnes per annum (mtpa) capacity are under construction and plans are afoot to increase use of LNG in trucks and buses.