In just six years, India will likely replace China as the world’s most populous country and by 2040 its gross domestic product is expected to triple.
That growth, however, is dependent on India’s access to clean, abundant energy to power an economy that will transform its citizens’ lives. Natural gas is seen as a critical ingredient to that energy mix and prosperity.
The people helping that energy transformation are already working hard to solve the challenge of balancing the world, and India’s, energy needs with lower emissions.
Here are just some of the reasons why this south Asian state is poised to achieve that balance, while providing new opportunities.
- Diversify to deliver: Previously reliant only on Qatar for their natural gas imports, India has diversified its sources, with the U.S. and Australia joining the fold. These long-term supplies continue to meet India’s natural gas current and future needs.
- Natural gas is the future: India is the fourth largest natural gas importer in the world. The country has invested millions in pipelines and LNG import terminals to supply natural gas across the country. Imported natural gas will continue to be critical to meet its energy needs, as local production volumes can’t keep up with demand.
- Port of entry: The country’s need for natural gas has been the driving force in its infrastructure growth, including import terminals. There are plans to build LNG import terminals over the next few years to accept those new gas imports and meet increased consumption. Existing LNG infrastructure is focused around regions in Mumbai and Delhi, but other regions are catching up. Specifically, two terminals are in advanced stages of completion – Mundra, Gujarat and Ennore in Tamil Nadu. Planning continues for terminals in remote regions, including Jaffrabad and Chhara in Gujarat, Dhamra in Odisha and Jaigarh in Maharastra.
- Gas at the ready: India is largely dependent on coal as a primary energy source, but the government has a vision to shift towards a more gas-based economy. Once established, half the country will have access to gas for cooking and transport, and natural gas will one day become the cleaner-burning fuel of choice.
- Revival of an industry: The fertilizer, transport and power industries continue to grow and these are the primary gas consuming markets in India.