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NATGAS: India Gas Mix Target Reqiures Prolonged Low Gas Price Scenario: OIES

NATGAS
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India’s publicly stated aim of increasing the share of natural gas to 15% by 2030 will only be met if the power sector becomes a major gas consumer, OIES said.

  • This will happen only in a prolonged low gas price scenario given the price-sensitive power sector and with renewable energy growth.
  • The share of natural gas would be limited to just 16-18% by 2040 due to carbon emissions reduction aims.
  • Natural gas (domestic production or LNG) is expected to incrementally replace industrial use of oil products like naphtha, fuel oil and diesel over the next decade, depending on continued reforms.
  • Natural gas can play an increasing role in the energy transition but will need policy support across the value chain or will likely lose its place to renewable energy.
  • Natural gas faces an adverse fiscal regime with gas consumption taxed at 5-26 per cent compared to coal consumption taxed at 4 per cent. 

 

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India’s publicly stated aim of increasing the share of natural gas to 15% by 2030 will only be met if the power sector becomes a major gas consumer, OIES said.

  • This will happen only in a prolonged low gas price scenario given the price-sensitive power sector and with renewable energy growth.
  • The share of natural gas would be limited to just 16-18% by 2040 due to carbon emissions reduction aims.
  • Natural gas (domestic production or LNG) is expected to incrementally replace industrial use of oil products like naphtha, fuel oil and diesel over the next decade, depending on continued reforms.
  • Natural gas can play an increasing role in the energy transition but will need policy support across the value chain or will likely lose its place to renewable energy.
  • Natural gas faces an adverse fiscal regime with gas consumption taxed at 5-26 per cent compared to coal consumption taxed at 4 per cent. 

 

Keep reading...Show less