India's natural gas demand to rise 7% in 2024, says IEA

The demand for natural gas in India is anticipated to rise by 7% in 2024, fuelled primarily by increased usage in the industrial and fertilizer sectors, as highlighted by an executive at the International Energy Agency. Additionally, heightened usage in the power sector, spurred by heatwaves across the South Asian country, is expected to contribute to this growth, albeit at a slightly slower pace compared to the nearly 10% increase witnessed in 2023.

In a recent meeting between Indradhanush Gas Grid Limited (IGGL) and the Chief Minister of Mizoram, Mr. Lalduhoma, discussions cantered on the progress of the ongoing Panisagar-Aizawl natural gas pipeline project, covering 127 kilometres. Spearheaded by IGGL as part of the Northeast Gas Grid Project, the meeting underscored the crucial role of promptly completing the Panisagar-Aizawl section. His assurance of support reflects the recognition of the project's potential to catalyse accelerated industrial growth within the state. Indradhanush Gas Grid Limited (IGGL), a joint venture comprising major petroleum PSUs, is leading the Northeast Gas Grid Project with an investment of US$ 1.11 billion (Rs. 9,265 crore). Currently at 81% physical completion, the project aims to integrate the Northeast Gas Grid with the National Gas Grid, ensuring reliable natural gas supply across the Northeastern states.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.