India’s natural gas consumption is shrinking as refiners, power producers and petrochemical plants are using less of the pricey fuel. Domestic consumption fell 2.5% year-on-year in the first quarter of FY23 while gas imports declined 10%, oil ministry data showed. In June, consumption fell 4% over the year.
A part of the decline in imports has been offset by rising domestic output, which expanded 5% over the year in April-June. This has also resulted in lower capacity utilization at gas import terminals.
