India’s natural gas production grew for the first time in six years in 2017-18. Gas output grew 2.35 per cent to 32,649 Million Standard Cubic Meter (MMSCM) primarily due to production from onshore blocks offsetting a decline in production from offshore blocks, an ETEnergyWorld analysis of fresh data from the oil ministry shows.
Natural gas is a key input required for generating power and manufacturing products in the fertilizer and steel industries. The reversal in the six-year declining trend assumes significance coming at a time when the government is targeting a quick ramp up in the share of natural gas in the overall energy basket, arrest a consistent declining trend in its domestic crude oil production and reduce its mounting crude oil import bill — which increased 25 per cent to $88 billion last fiscal and is expected to increase by 20 per cent to $105 billion in 2018-19.
An analysis of year-wise data on natural gas production since 2002 indicates that the country recorded its highest ever natural gas production from onshore blocks in 2017-2018. Gas production from onshore blocks including Coal Bed Methane (CBM) grew 8 per cent to 10,639 MMSCM last financial year as compared to 9,858 MMSCM recorded in the previous fiscal. The country’s offshore production, however, declined by less than one per cent to 22,011 MMSCM in 2017-18 as compared to 22,038 MMSCM recorded in the previous fiscal (2016-17). Read More
Latest posts by ET Energy World (see all)
- FAME-II: Govt sets up inter-ministerial panel for monitoring, sanctioning of projects - March 18, 2019
- MNRE warns public against fake websites under KUSUM scheme - March 18, 2019
- OPEC’s Barkindo says rebound in oil investments “very minimal” - March 18, 2019