India gas demand grows but green hydrogen impact still small, reports Wood Mackenzie

India’s gas demand will soar to 100 billion cubic metres (bcm) by 2033, driven by industry and city distribution expansion. But low-carbon hydrogen is less likely to see a boom in demand due to more competitive fossil fuel-based technologies and gaps in transport and storage infrastructure.

These are among the key findings of global business consultancy Wood Mackenzie’s just-released “” report.

An additional 10 million tonnes per annum (mtpa) of Indian LNG demand will come at a time when global gas prices are expected to soften. With the market set to absorb more than 200 mtpa of LNG supply growth, equal to around 50% of current supply, LNG price upside will be limited, the report states. Middle Eastern LNG suppliers are set to benefit from their proximity.