Indian Oil Corp Forecasts Massive LNG Demand Growth, Aligning with IEA Projections

Indian Oil Corporation's internal assessment predicts India's LNG demand will reach 77-80 million metric tons by 2030, aligning with the International Energy Agency's forecast. The IEA projects India's natural gas consumption to surge 60% to 103 billion cubic meters by 2030, with LNG imports more than doubling to 64 bcm annually. This growth is driven by expanding city gas distribution, industrial demand, and power generation. However, IOC emphasizes that sustained growth depends on affordable prices. The projected increase necessitates significant infrastructure development and strategic planning to ensure supply security in a price-sensitive market.

Sources: Reuters, International Energy Agency, Moomoo News