Staff Writer
New Delhi: India’s leading forum on natural gas sector- LNG India Summit concludes with a high note where industry leaders, policymakers, and experts explore the latest advancements and opportunities in the liquefied natural gas (LNG) sector. The 8th edition themed on ‘Natural Gas: Envisioning the Future Beyond 2050’, focuses on accelerating the growth of LNG infrastructure and market development to support India’s energy transition and sustainability goals.
Inaugurated by Chief Guest Dr Vijay Kumar Saraswat, Member, NITI Aayog; Dr AK Balyan, Chairman and Managing Director, Carmine Energy; Sachiv Kumar, Additional Director General, Development, Directorate General of Hydrocarbons, Ministry of Petroleum and Natural Gas, Government of India; and Deepak Mishra, Joint Secretary, Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers, Government of India, the Summit marks the presence of several senior officials from Government and policymaker side along with C-Suite executives from the private sector.
Chief Guest Dr Saraswat briefed the audience on the global and Indian scenario of the natural gas industry. He said: “Globally, in the primary energy consumption, gas sector contributes 25.6% and in India it contributes around 6.7%. The domestic gas production has been stagnating, we import LNG through long terms contracts. We are depended on about 50% of gas import to meet demand. There is a need for an increase in the domestic production. The installation capacity in terms of distribution for sector is only 25 GW i.e. 6%. The overall installed power capacity is 442 GW and as the GDP goes up we are going to demand 990 GW of overall capacity. In India, emission intensity to GDP was reduced by 33% in 2019 over 2005, as a relatively cleaner fuel, natural gas can be an option for reducing emissions.
Giving a way forward in the gas sector, he further added: “Natural Gas consumption in the transportation sector is projected to increase 6x by 2047 from 2022 levels. In cooking sector, it is project to increase 10x by 2047; in industry sector the consumption is expected to grow by 7x by 2047.”
The two-day conference will cover a comprehensive range of topics surrounding the anticipated growth of the LNG market and discuss how to further capitalise India’s strength for the soaring future while also achieving India’s ambitious target of transitioning towards a gas-based economy.
The distinguished panel of speakers from key government agencies, policymakers, regulators and industry leaders from the leading energy sector majors that will engage in exciting panel discussions and fireside chats generating great networking opportunities and showcase of latest equipment & technological developments in LNG value chain – Transportation, storage, tanks and other equipment.
As the Summit begins, Mr Raj Manek, Executive Director & Board Member, Messe Frankfurt Asia Holdings Ltd shared his thoughts: “We are thrilled to host the LNG India Summit 2024, an event that underscores the pivotal role of LNG in shaping a sustainable energy future for India. This summit is a crucial platform for collaboration, innovation, and investment, driving forward our vision of a cleaner and more resilient energy landscape.”
He further added: “The summit features keynote addresses, panel discussions, and networking opportunities, providing a comprehensive overview of the current trends, challenges, and future prospects of the LNG industry in India. It’s a great opportunity for the sector to unite on a single platform to engage with leading experts and stakeholders, fostering dialogue and partnerships that will pave the way for the next phase of energy development in the country.”
The day two for the conference, will cover topics like LNG Infrastructure Building, Supplying through Gas Grid to CGDs and other Industries, Infrastructure of receiving regasification terminals –Land based & FSRUs, Global LNG Regasification Capacities & Status of India’s LNG Import Capacity, LNG Shipping Capacities & Decarbonization with LNG fleets, Developing LNG Supplies to new CGD Infrastructure in India, Small Scale LNG (ssLNG) to expand natural gas access to India, and How India can enhance its gas share Like China?
With the passing of every successful edition, the LNG Summit has become a crucial platform to dwell on the key topics and discuss the roadmap towards growth trajectory of LNG sector in India. The Summit will continue to act as premiere forum which curates a platform for exciting exchange of insights with sessions on latest happening in India’s transition towards a gas-based economy.