Indian gas utility GAIL (India) Ltd sees local gas demand growing by 6%-7% in the fiscal year to March, driven by lower prices and the resumption of supply under a deal with the former unit of Russia’s Gazprom, its chairman said on Thursday.
Gas consumption in India fell by about 6% in 2022-23 as higher prices pushed consumers to cheaper liquid fuels and as Russia’s invasion of Ukraine disrupted supply, forcing GAIL to ration supplies.
“We definitely see this year to be very promising as far as the natural gas consumption is concerned,” said Sandeep Kumar Gupta at an earnings conference.
