• Muted natural gas output likely in FY25 on cautious Reliance Industries’ KG Basin fields outlook

    India’s natural gasoutput is headed for a muted show in FY25 after three straight years of rise, as the production outlook is rather circumspect at Reliance Industries’ KG Basin fields that were at the vanguard of the industry’s growth in recent years.

    India produced 27.3 billion cubic meters in April-December 2024, compared with 27.2 billion cubic meters in the same period a year earlier. In the second and third quarters of the current fiscal year, output was lower than in the previous year.

    The growth over the past three fiscal years was primarily fuelled by Reliance Industries’ new fields in the KG basin, as output from state-run ONGC’s fields had been declining for several years.

    Domestic gas production had slumped 40% in nine years to 2020-21 but surged 19% year-on-year in 2021-22 after Reliance Industries brought to production some new fields in the KG D6 block. In 2022-23, domestic production rose 1% while in 2023-24, it increased 6%.

    Share This
    Facebooktwitterlinkedinyoutube