NATGAS: India LNG Imports to Rise to 39m Tons by 2030: BNEF

India’s gas demand growth to accelerate after 2027 to 94bcm by 2030, with price-sensitive buyers boosted by a loosening global LNG market, according to BNEF.

• India’s LNG imports are forecast to rise 50% from last year levels to 39m tons by 2030. LNG import prices are forecast under $10/mmbtu from 2028, BNEF said.
• Gas network infrastructure expansion and decarbonize efforts will support India’s gas consumption increase. The city gas network is set to be twice its current size by 2032.
• Gas use by refineries will follow a rise in capacity while decarbonization efforts will boost manufacturing industry gas consumption.
• Transport sector demand will be supported by LNG trucks toward the end of the decade, but power sector gas demand is likely to contract.
• A rise in India’s production is unlikely to have a notable impact.
• India’s uncontracted LNG volumes will surge after 2028 to 26% in 2030.