Nation’s natgas production volume may significantly rise according to a report published by TechSci Research. The report projects a growth at a CAGR of approximately 26% during the period of 2014 to 2019.The report titled “India Natural Gas Market Forecast & Opportunities, 2019” suggests that factors such as growing apprehension towards carbon emission along with towering oil prices and latest developments in the production and infrastructure of the gas sector would propagate the boost in gas production and consumption.
Gas production from unconventional sources and LNG imports are also expected to rise accordingly so as to bridge the gap between supply and demand. Power generation, transportation, domestic fuel and fertilizers are the major industries which use the natgas. It is predicted that over the next 5 years the demand from these sectors would remain hefty.
Country’s western zone is currently the top consumer as of now, and is expected to continue its lead over the forecasted period as well.