Reportedly, India’s natural gas consumption increased by 24 per cent to 5.8 billion cubic meters (bcm) in September 2023 on year on year (YoY) basis. The surge is owing to increased demand during festive season, mainly by power generation and refinery sectors registering a growth of 34 per cent and 78 per cent, respectively.
Of the total gas consumption, fertilizer sector stood at 31 per cent followed by city gas distribution sector (CGD) at 19 per cent, power generation at 14 per cent and refinery at 8 per cent.
Moreover, the country’s imports of liquefied natural gas (LNG) from Gas Exporting Countries Forum (GECF) has witnessed an increase of 69.1 per cent in September 2023 on YoY basis.