According to the International Energy Agency (IEA), the country’s liquefied natural gas (LNG) imports are expected to more than double by 2030, driven by a steady rise in demand and slower-than-expected growth in domestic production.
LNG demand is anticipated to increase by 11 per cent annually between 2023 and 2030, which is double the average growth rate seen over the past decade. The LNG consumption is expected to reach 64 billion cubic meters (bcm) annually by 2030.
In addition, overall gas consumption is projected to grow by 60 per cent from 2023 levels, reaching 103 bcm. The primary drivers behind this surge in gas consumption will be the city gas distribution (CGD) sector, along with contributions from heavy industries and refineries, which are also expected to boost gas demand.