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  • NEWS Desk Global

INDIA'S NATURAL GAS DEMAND MAY GROW 4%

India's natural gas demand is expected to rise by 4% in 2023 calendar year and will continue to increase at an average annual rate of about 8% till 2026, the International Energy Agency said.

The growth in demand will be primarily supported by the power, petrochemical and fertiliser sectors, the agency's medium-term gas market forecast said. It quoted Petroleum Planning and Analysis Cell, the oil ministry's market tracker, to note India's primary gas supply rising by 2% in the first eight months of 2023. The expected uptick in gas consumption in India is in contrast to the projection of a slowing pace of global gas demand growth at 1.6% annually between 2022 and 2026 against average 2.5% annual increase in the period between 2017 and 2021.

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