Energy demand of India is anticipated to grow faster than energy demand of all major economies on the back of continuous robust economic growth. India’s energy demand is expected to double to 1,516 Mtoe by 2035 from 753.7 Mtoe in 2017. Moreover, the country’s share in global primary energy consumption is projected to increase by two-fold by 2035.Crude oil consumption is expected to grow at a CAGR of 3.60% to 500 million tonnes by 2040 from 221.56 million tonnes in 2017.
India’s oil demand is projected to rise at the fastest pace in the world to reach 10 million barrels per day by 2030, from 5.05 million barrel per day in 2020.Natural Gas consumption is forecast to increase at a CAGR of 4.18% to 143.08 million tonnes by 2040 from 58.10 million tonnes in 2018.Diesel demand in India is expected to double to 163 MT by 2029-30, with diesel and gasoline covering 58% of India’s oil demand by 2045.As per preliminary data of gasoline sales, fuel consumption in India registered growth in June 2021 and is expected to further recover by end-2021. Gasoline sales by state refiners stood at 2.12 million tonnes in June 2021, registering an increase of 5.7% YoY. India is set to expand India’s natural gas grid to 34,500 kms by adding another 17,000 km gas pipeline. The regasification capacity of the existing 42 MMT per annum will be expanded to 61 MMT per year by the year 2022.
Apart from imports, government policy is focussed on improving domestic exploration and production. It is encouraging investments in this area by clearing the induction of 100 per cent FDI in segments such as natural gas, petroleum products and refineries. It has rebooted the exploration policy norms with the new HELP and Open Access Licensing Policy. The government has also launched the E&P Action Plan 2023-24 to attain a production level of 50 bcm of gas by financial year 2024. Moreover, the Indian Gas Exchange has started discovering gas pricing for India that will help create a benchmark for the Indian gas market. Besides, the city gas distribution network is rapidly expanding. More than Rs 1.2 trillion is expected to be invested in the development of CGD infrastructure in the ninth and tenth bidding rounds over the next four to five years. This will involve the development of 8,000 CNG stations and 35 million PNG connections in 136 geographical areas (GAs). Further, 44 new GAs are planned to be announced in the eleventh CGD bidding round. In the next two to three years, while the CGD and LNG segments will remain the biggest growth drivers, the E&P and gas transmission pipeline segments will also present some opportunities. That said, most of the policy changes have been welcomed as proactive by stakeholders and potential investors. However, issues such as dwindling domestic production and the slow growth of the pipeline network need immediate attention of policymakers. Considering the importance and relevance of the natural gas in the Indian energy mix and the position it holds as a beacon of clean energy for the Indian energy sector ,Diligentia has planned a one day Conference on Gas in India scheduled to be held on 8th April 2022, New Delhi where experts from the Industry will address the following topics
Key points of discussion
Our aim is to deliver you an event that exceeds your expectations, thus becoming an integrated part of your annual marketing program. This is a challenging as well as exciting time to be part of the industry to witness its opportunities of growth and developments that governments, industry leaders, and businesses are focusing on. This Conference is a unique opportunity for your organisation to connect with leading professionals who work in a variety of government and private sectors. Diligentia Services is committed to engage with delegates through an energising and informative program of speakers, and facilitating networking and business opportunities for sponsors through an interactive and dynamic conference.