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India Predicts 500% Increase In Domestic Natural Gas Demand

February 8, 2023

By Paul Homewood



Meanwhile, back in the real world!



Indian Prime Minister Narendra Modi on Monday projected that the country’s gas demand would rise 500% due to the rapid pace of development, while its share of global oil demand would more than double.
While the Indian prime minister did not offer a specific time frame for this major boost in demand, he said that the country’s energy demand would be highest in the present decade.
Modi’s statement, delivered during the opening ceremony of India Energy Week 2023, coincides with a recent OPEC report that expects India to be the largest contributor to incremental demand, with the country expected to add some 6.3 million bpd until 2045.
Overall, OPEC said it saw demand increasing to 110 million bpd in 2045, up from 97 million bpd in 2021.

Modi predicts India’s share in global oil demand will increase from 5% to 11%.

The Indian prime minister used the occasion to highlight the country’s plans to boost exploration and production, which he said would provide opportunities for investors. Right now, India relies on imports for some 85% of its energy needs, with India and China being the largest importers of oil and gas in the world.

With this in mind, India will remove significant restrictions on exploration, reducing “no-go” areas for E&P companies. India also plans to expand its refining capacity, along with its LNG import capacity by 2030.

Asia is now the biggest buyer of Russian crude since the imposition of Western sanctions following Putin’s invasion of Ukraine. Some 70% of Russian Urals January loading cargoes were bound for India, according to Reuters data.
India’s oil minister, Hardeep Singh Puri, also said on Monday that regardless of Western sanctions, the country would not shun Russian oil, which it receives at a discount to Brent crude.

“I will be very frank,” Puri said, “we will play the market card …”

Currently the UK’s gas consumption is slightly higher than India’s, so any reduction here will quickly be offset in India.

  1. Douglas Dragonfly permalink
    February 8, 2023 10:28 am

    Maurice Strong has a lot to answer for. Not just the climate change brain washing hysterical lies but the obvious acceptance of rank hypocrisy.

    Strong was one of the commissioners of the World Commission on Environment and Development, set up as an independent body by the United Nations in 1983.

    Strong was a longtime Foundation Director of the World Economic Forum, a senior advisor to the president of the World Bank.

    ‘I am deeply saddened that Maurice Strong passed away yesterday at the age of 86. He was one of the most extraordinary personalities I ever met.
    He deeply incorporated the World Economic Forum’s mission of improving the state of the world into everything he did. He was a great visionary, always ahead of our times in his thinking. He was my mentor since the creation of the Forum: a great friend; an indispensable advisor; and, for many years, a member of our Foundation Board. Without him, the Forum would not have achieved its present significance.’ – Klaus Schwab.

    Strong lobbied to change NGO perspectives on the World Bank. He is believed by some to have inspired the works of former U.S. Vice President Al Gore on climate change.

    • February 8, 2023 10:46 am

      Interesting that one of the founders of the new world order of Fascism should come from Canada where Adolf Trudeau reigns supreme. They are such nice people when you meet them where did all go wrong.

  2. Devoncamel permalink
    February 8, 2023 10:42 am

    That’s Net Zero for you. We’ve shoved it somewhere else.
    So that’s all fine then.

    • Harry Passfield permalink
      February 8, 2023 1:31 pm

      India: Not Zero – a rise out of poverty

      UK: Net Zero: a descent into poverty

  3. Adam Gallon permalink
    February 8, 2023 12:59 pm

    I wonder when reality will strike our politicians?

    • Harry Passfield permalink
      February 8, 2023 6:53 pm

      It will only strike them when they leave office – when their biogs will then talk about how the saw it coming and tried so hard to alert the the government…..(toe rags is too mild a term for these absolute fools who can’t even do critical reasoning.

  4. catweazle666 permalink
    February 8, 2023 2:58 pm

    Frack baby frack!

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