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Natural gas import bill increases 13% to $15.2 billion in FY’25
India’s natural gas import bill surged by 13% to $15.2 billion during the financial year 2024-25, compared with $13.4 billion in FY24, driven by rising consumption, according to data from the Petroleum Planning and Analysis Cell (PPAC). In March, the import bill increased by approximately 8.3% to $1.3 billion, compared to March 2024.
The country imported 36,699 million standard cubic meters (mmscm) of liquefied natural gas (LNG) during FY25, reflecting a 15.4% increase over FY24.
India’s natural gas consumption rose by 7% to 72,293 mmscm, driven by higher demand from the city gas distribution (CGD), fertiliser, and power sectors. This pushed the country’s reliance on imported gas to 50.8%, up from 47.1% in the same period last fiscal.
Analysts attributed this growth to a combination of rising demand and stabilised global natural gas prices, which had previously surged to record highs in FY23.
Despite the rise in imports, domestic natural gas production declined marginally by 1% to 36,113 mmscm during FY25. State-owned Oil and Natural Gas Corporation (ONGC) produced 18,795 mmscm of natural gas during this period, a decline of almost 3% from 19,316 mmscm in FY24. Production remained below targets, highlighting the widening gap between demand and domestic supply.
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