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The oil and gas sector in India is one of its eight core industries. The south Asian country is the world’s third largest energy and oil consumer, after China and the United States. The import volume of LNG into the country was estimated to be around million metric tons by the end of fiscal year 2023. 

Natural gas – domestic market

In terms of natural gas, western India had the maximum installed capacity of around **** gigawatts. Natural gas is being manufactured both onshore and offshore locations to meet the demands. However, to transform India into a manufacturing hub, the government has been encouraging domestic production. 

The road ahead

Energy demand is expected to grow at a faster rate due to the continuous robust growth. India was the third-largest consumer of primary energy in the world, having used some ** exajoules in 2023. Primary energy consumption from gas in India is forecast to reach roughly *** million barrels of oil equivalent per day by 2050.