With growing need for natural gas in the country, India’s LNG regasification capacity is expected to double by 2025.
Currently, Indian natural gas production stands at around 92 million standard cubic metres per day (mscmd), which is expected to increase by 52% according to a report by ICRA, a Mumbai-based research rating agency.
The report states that India plans to increase its regasification capacity to around 47 million tonne per annum (mpta) – or approximately 165 mscmd – by fiscal year 2019/20 and around 55 mpta by fiscal year 2024-25.
Currently, India has only 25 mtpa capacity of regasification plants in four locations in the country, with a gas consumption of 51 billion cubic metres (bcm). It imports 25% of its natural gas requirements and 80% of crude oil, with current import bills hovering around $150bn and expected to increase to $300bn by 2030, the report adds.
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