Page 5 - AsianOil Week 06 2023

AsianOil PIPELINES & TRANSPORT AsianOil

has already pledged over the next four years to capacity of up to 42.4mn tpy. By 2030, capacity is
reduce the amount of power generation from projected to rise to 70mn tpy.
at least 81 of the nation’s 173 coal-fired power
plants. LNG imports fall in 2022
Given that India contributes roughly 7% of Despite a bullish outlook for India’s LNG
global emissions and that this number is likely imports in the coming years, the country's
to rise as its economy and population continue to imports of the super-chilled gas took a step back
grow, pressure is mounting to accelerate the shift last year amid soaring LNG prices following
away from power generation by coal. Russia’s invasion of Ukraine and Europe’s subse-
Amid Modi’s pledge to raise the share of nat- quent drive to wean itself off Russian gas.
ural gas in the country’s energy mix to 15% by India’s LNG imports slumped to 20.03mn
2030 from its current level of 6%, LNG imports tonnes in 2022, down from 24.01mn tonnes in
will be relied on heavily. The proportion of 2021, according to Kpler. This marked the lowest
LNG in India’s gas consumption is forecast to level since 2017 as India struggled to secure LNG
climb to about 70% from the current level of deliveries amid higher prices.
50% over a 10-year period, industry experts The sky-high LNG prices saw demand
told Upstream. destruction occur in price-sensitive sectors in
Deeper penetration of city gas distribution the country’s economy such as power and refin-
is also expected to play a key role in driving ing. The drop in LNG imports in India was part
the growth of LNG demand in the years ahead. of a trend among Asian nations, with Pakistan
According to the Times of India, the expansion and Bangladesh also receiving fewer deliveries
of city gas distribution networks across 407 dis- in 2022. Overall, Asia’s imports fell to 263.76mn
tricts will make gas accessible to potentially 70% tonnes, dropping from 282.08mn tonnes in
of the country's population. 2021.
Trailing only China, Japan and South Korea, As the world’s third-largest energy consumer,
India is the world's fourth-largest importer of India meets close to half of its LNG demand
LNG, with six terminals possessing a combined from imports. ™

Week 06 10•February•2023 www. NEWSBASE .com P5