Page 184 - CW E-Magazine (11-3-2025)

Special Report

aggregation machinery, and bypro- 90
ducts offtake to address these chal- Forecast
lenges and build a robust CBG eco- 80 Actual
system by 2030. 70
60
LNG imports are set to more than 50
double between 2023 and 2030 40
India’s LNG imports are set to 30
more than double between 2023 20
and 2030, driven by steady demand 10
growth and a much slower rise in
domestic production. Between 2013 0 2023 2024 2025 2026 2027 2028 2029 2030
and 2023, India’s LNG imports LNG import capacity (operational) LNG import capacity (under construction) LNG demand forecast
increased by 70%, and reached 36-bcm
in 2024, matching the previous record Fig. 3: LNG demand forecast and import capacity in India, 2023-2030 (bcm/yr)
set in 2020 and cementing the coun- As domestic natural gas produc- LNG requirements is set to widen
try’s position as the fourth-largest tion is projected to see only marginal signifi cantly after 2028, leaving India
LNG importer globally. growth until 2030, LNG imports are more exposed to the volatility of the
expected to meet an increasing share spot LNG market unless additional
Looking ahead, India’s LNG of India’s future gas demand. LNG contracts are secured in the
demand is projected to grow steadily, coming years.
reaching 64-bcm/yr by 2030. This The rapid rise in LNG require-
represents an annual average growth ments necessitates additional LNG [Extracts from the ‘India Gas Market
rate of 11% for the 2023-2030 period, import capacity in the second half Report: Outlook to 2030’ published by
twice the average rate observed in the of the decade. The gap between con- the International Energy Agency (IEA),
previous ten years. tracted LNG supply and projected February 2025]

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184 Chemical Weekly March 11, 2025

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