India Needs To Consume More Gas in 13 Times

India needs to prepare for rising consumption of natural gas from current 31 billion cubic meter per year to 400 bcm in 2030, a study released today said.

"Assuming that each additional one BCM of gas will cost about 1 billion dollars to develop, this would imply an investment of more than 350 billion dollars till 2030," the study by Petroleum Secretary M S Srinivasan at the Petrotech Conference said.

'The green imperative; future of natural gas in India' suggests adoption of net back gas pricing approval based on market replacement of gas, compared with alternative fuels through market determined pricing.