OPINION: What India needs to do for growth of its natural gas market

India aims to increase the share of Natural Gas in its energy basket from the current 6.7% to 15% by 2030, which is an increase from 163 MMSCMD to over 500 MMSCMD. Such a major shift in the nation’s energy mix is possible only through the development of competitive and transparent gas markets. These markets would boost the confidence of investors in upstream and downstream value chains and assure consumers about natural gas being a robust energy alternative.In 2020, PNGRB authorised India’s first gas exchange to achieve the government’s expectations of securing equitable distribution and increasing the availability of gas by creating a free market to usher in a gas-based economy. Although trading volumes have increased on the gas exchanges,.....