India to Splash $60bn on Gas Infrastructure

India is set to spend $60bn on gas infrastructure over the next few years, including on gas pipelines, LNG import terminals and city gas distribution (CGD) networks, the country’s petroleum and natural gas minister Dharmendra Pradha told the India Energy Forum by Ceraweek on October 14.

Pradhan said that his government was looking to turn India into a gas-based economy, aiming to raise the share of gas in the energy mix to 15% by 2030 from 6-7% at present. The minister stressed this goal was achievable, citing the example of the state of Gujarat, where the share of gas had reached 25% – comparable to the global average.

The latest CGD licensing rounds have also been a success, the minister said. Once these projects are implemented, he said, more than half of India's geographical area and almost three-fourth of the population will be suppled by city gas networks.

Pradhan added that India's E&P sector would see investments of $58bn by 2023.