Dublin, Dec. 14, 2023 (GLOBE NEWSWIRE) -- The "Natural Gas Market in India 2023-2028" report has been added to ResearchAndMarkets.com's offering.
During FY 2023, India's consumption of natural gas reached 59,969 MMSCM, marking an increase from 52,517 MMSCM in FY 2016. In the same period, there was a more significant decline in LNG consumption, dropping by 13.35% to 71.4 MMSCM, while LNG imports fell by 15.18% year-on-year to 72.1 MMSCM in FY 2023.
Consequently, due to the decrease in imports, the net consumption of natural gas decreased in FY 2023. In October 2023, there was a notable 9.3% year-on-year surge in natural gas production, reaching 3,161 MMSCM, according to the Petroleum Planning & Analysis Cell (PPAC). Additionally, the import of liquefied natural gas (LNG) experienced a substantial rise, recording an 18.2% increase to 2,337 MMSCM compared to the same period last year, underscoring robust demand in the energy-intensive nation.
Market drivers:
The typical trajectory of economic growth often involves increased levels of industrialization and urbanization, leading to a noticeable surge in the need for energy. Natural gas, recognized for its versatility and relatively cleaner combustion compared to other fossil fuels, presents an attractive solution to meet this growing demand.
The expansion of City Gas Distribution (CGD) plays a crucial role in extending the accessibility of natural gas to a broader consumer base in urban and semi-urban areas. As the CGD network expands, more households, commercial establishments, and the transportation sector gain access to the benefits of natural gas.
Market challenges:
The natural gas market in India faces substantial challenges attributed to infrastructure limitations, affecting the seamless distribution and utilization of this eco-friendly fuel. The existing pipeline network's restricted coverage hinders the efficient transportation of natural gas from production centers to diverse consumption hubs, limiting its widespread availability.
Price sensitivity and affordability pose formidable hurdles to the Indian natural gas market, impacting both consumers and industrial stakeholders. The direct impact of natural gas prices on consumer affordability is particularly critical, especially for households reliant on natural gas for cooking and heating.
Key Topics Covered:
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
Chapter 4: Market Overview
4.1. Natural Gas Market in India Overview
4.2. Natural gas consumption (FY 2016 - FY 2023)
4.3. Natural gas capacity (FY 2016 - FY 2023)
4.4. Natural gas net production company-wise (FY 2016 - FY 2023)
4.5. Offshore vs Onshore
4.6. Onshore natural gas net production (FY 2023)
4.7. Onshore natural gas net production (FY 2023)
Chapter 5: Government Initiatives
5.1. Government initiatives
Chapter 6: Market Trends
6.1. Market trends
Chapter 7: Trade Analysis
7.1. Trade analysis
Chapter 8: Market Influencers
8.1. Market drivers
8.2. Market challenges
Chapter 9: Competitive Landscape
9.1. Bharat Petroleum Corporation Limited
- Company information
- Business description
- Products/services
- Key people
- Financial snapshot
- Key ratios
- Key financial performance indicators
- Key business segments
- Key geographic segments
9.2. GAIL (India) Limited
9.3. Gujarat Gas Limited
9.4. Hindustan Petroleum Corporation Limited
9.5. Indian Oil Corporation Limited
9.6. Indraprastha Gas Limited
9.7. Mahanagar Gas Limited
9.8. Oil and Natural Gas Corporation Limited
9.9. Oil India Limited
9.10. Reliance Industries Limited
Chapter 10: Recent Developments
For more information about this report visit https://www.researchandmarkets.com/r/cm4bcx
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