India's March 2024 natural gas output surges by 6.2%

03 May 2024 CW Team

According to the latest report from the Petroleum Planning & Analysis Cell, the gross production of natural gas for the month of March 2024 had reached 3,138 mmscm, marking a 6.2% increase compared to the same month in 2023.

The report indicated that the net production for sale stood at 2,571 mmscm, reflecting a 5.7% rise year-on-year. This growth was attributed to the ongoing efforts in domestic production by companies such as ONGC, OIL, and various joint ventures.

LNG imports during March 2024 had amounted to 2,522 mmscm, showing a decrease of 1.1% from March 2023, suggesting a balanced reliance on both domestic production and imports.

The total availability of natural gas for sale in March 2024 had reached 5,093 mmscm, indicating a 2.2% increase from the previous year.

It was reported that the total consumption had been 6,066 mmscm, with the fertilizer sector accounting for 28% of the consumption, City Gas Distribution (CGD) 20%, power generation 11%, refinery operations 11%, and petrochemicals 4%. This showcased the diverse demand across various sectors.

It was further highlighted that the refinery sector had shown the highest cumulative growth, with a 49% increase from April 2023 to March 2024, while CGD consumption had grown by 12%, and the fertilizer sector's consumption had increased by 8% over the same period.

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