bp has forecasted that natural gas will constitute 8.6% of India’s primary energy mix by 2050, up from 5% in 2022, according to its current trajectory scenario. The projection, detailed in bp’s Energy Outlook 2024, indicates a modest increase. However, under a net-zero scenario, which emphasizes decarbonization efforts, the share could drop to 5.5% by 2050.
The current trajectory reflects ongoing trends in energy supply, demand, and consumption, while the net-zero scenario represents a shift towards reducing carbon emissions. This suggests that India, the world’s third-largest energy consumer and fourth-largest LNG importer, may fall short of its goal to increase natural gas’s share to 15% by the end of this decade.
The outlook marks a downward revision from bp’s 2023 report, which anticipated the share of natural gas in India’s energy mix to rise to between 7% and 11% by 2050, driven by demand from industries and heavy road transport.
As reported by thehindubusinessline.com, similarly, OPEC’s 2023 annual report projected that India’s natural gas share would reach only 10.6% by 2045, despite expected growth in consumption across industry, power generation, and transport sectors.
