INDIA LIQUEFIED NATURAL GAS (LNG) MARKET

INDIA LIQUEFIED NATURAL GAS (LNG) MARKET

  • November 2021 •
  • 34 pages •
  • Report ID: 6183503 •
  • Format: PDF
India is the third-largest energy consumer globally. The country’s primary energy consumption is dominated by coal and oil, contributing 83.03% in 2020. India also consumed 31.98 exajoules of primary energy in the same year
Coal accounts for more than 70% of India’s electricity output.Moreover, India is the second-largest consumer, importer, and producer of coal, harboring the world’s fourth-largest reserves.

In 2020, overall coal consumption was reduced marginally owing to the COVID-19 pandemic. However, natural gas, hydroelectricity, nuclear energy, as well as renewable energy depicted an increase in their share of the overall primary energy consumption in India.
Renewable energy has emerged as a solution to address expanding energy demands in India for economic growth while radically decreasing carbon emissions due to rising government support.Since 2014, over $42 billion has been spent in the country’s renewable energy sector.

In 2018, India’s new renewable energy investment equated to $11.1 billion. Furthermore, as per the analytics firm British Business Energy, India was positioned third across the world in 2020 in terms of renewable energy plans and investments.
Leading LNG firms in the country are the Oil and Natural Gas Corporation (ONGC), Gujarat Gas Limited, Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Limited (BPCL), GAIL (India) Ltd, Petronet LNG, and Adani Total Gas, among others.