Energy demand of India is anticipated to grow faster than energy demand of all major economies, on the back of continuous robust economic growth. India’s energy demand is expected to double to 1,516 Mtoe by 2035 from 753.7 Mtoe in 2017. Moreover, the country’s share in global primary energy consumption is projected to increase by 2-folds by 2035.
Crude oil consumption is expected to grow at a CAGR of 3.60 per cent to 500 million tonnes by 2040 from 221.76 million tonnes in 2017.^
Natural Gas consumption is forecasted to increase at a CAGR of 4.31 per cent to 143.08 million tonnes by 2040 from 54.20 million tonnes in 2017.^
Diesel demand in India is expected to double to 163 million tonnes (MT) by 2029-30.
Note: Conversion rate used as on September 2019, Re 1 = US$ 0.014019
References: Media Reports, Press Releases, Press Information Bureau, Ministry of Petroleum and Natural Gas, Petroleum Planning and Analysis Cell, News Articles, International Energy Agency
Note: ^As per BP Energy Outlook 2018
Disclaimer: This information has been collected through secondary research and VITANOVA is not responsible for any errors in the same.