With the rise in domestic natural gas production, India’s dependency on imported LNG or liquefied natural gas, which stood at 53% of total consumption in FY21, has gradually declined over the last three years and is expected to remain at around 45% by FY26, said CareEdge Ratings in a report on Tuesday.
The higher demand for natural gas in the country is also expected to be supported by sizeable growth in domestic gas production wherein nearly 30 MMSCMD (million metric standard cubic meters per day) of new domestic natural gas production has gradually come on stream over the last three years and another around 15 MMSCMD of new domestic natural gas production is expected to come on-stream during FY25.
