India’s natural gas demand increased by 4.2% year-on-year in October, reaching 6,005 million metric standard cubic meters (MMSCM), driven by higher consumption in the power sector and a surge in domestic demand.

Liquefied natural gas (LNG) imports rose by 10.5% to 2,932 MMSCM, reflecting the country’s growing dependence on imports due to rising demand and stagnant domestic production.

According to data from the Petroleum Planning & Analysis Cell (PPAC) of the oil ministry, gross natural gas production in October stood at 3,111 MMSCM, a decline of 1.6% compared to the same period last year.

For the current fiscal year up to October, domestic gas consumption increased by 11.2%, while LNG imports grew by 22.2% year-on-year.

Moreover, India’s crude oil imports increased by 4.2% year-on-year in October, with the import bill totalling $10.6 billion for the month, driven by the nation’s expanding economic growth and corresponding energy needs.

For the fiscal year up to October, crude imports rose by 3.5% compared to the same period last year. Fuel demand grew by 3% year-on-year to 137.6 million metric tonnes (MMT), supported by a 7.4% rise in petrol consumption, a 6.6% increase in LPG, 10.2% growth in ATF, and a slight 0.8% uptick in diesel usage.

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