India: the great gas demand hope
With high import-dependency and rising gas demand, India is a prime target for LNG exporters. But price and infrastructure will decide how quickly the market develops
It's the country that many natural gas exporters are waiting for. India, a fast-growing economy with the world's second-largest population, seems destined to play a decisive role as a sink for excess supplies, believe hopeful exporters. A period of weak global liquefied natural gas prices can only help the fuel's rise. The potential is great. Shell reckons India's gas market will grow sixfold by 2030. BP forecasts consumption of the fuel will rise from 4.9bn cubic feet a day in 2015 to 12.8bn cf/d by 2035—growth of 162%. Gasification of the economy is now policy. The government wants the share of gas in the energy mix to reach 15% by 2030, more than double its level now. The forecasts should
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