By 2015-16, domestic production of natural gas may rise to around 125 MMSCMD from 111 MMSCMD in 2012-13, rating agency ICRA feels.
By 2019-20, domestic output could increase further to around 183 MMSCMD, a study conducted by ICRA shows.
In the last two years, output of natural gas in India declined to 111 MMSCMD in 2012-13 from 143 MMSCMD in 2010-11 mainly because of fall in production of KG-D6 block from 56 MMSCMD in 2010-11 to 26 MMSCMD in 2012-13.
By 2024-25, ICRA expects domestic gas output to rise to about 200 MMSCMD assuming certain production from future discoveries.
While the demand potential for natural gas is high, the actual offtake could critically depend upon the price competitiveness of gas against alternative fuels and timely commissioning of the proposed transmission pipeline infrastructure.
By 2019-20, the rating agency believes the gas demand to rise to around 360 MMSCMD and further to around 435 MMSCMD by 2024-25 from the current demand potential of more than 250 MMSCMD.
In 2012-13, India consumed around 140 MMSCMD of gas, which decreased over the last two years from 177 MMSCMD in 2010-11 owing to constrained gas availability.