Import dependency on natural gas increased to 46.3% in FY 22-23

The government has taken multiple steps to increase domestic production of natural gas

India’s import dependency based on consumption for natural gas has decreased from 48.2% in FY 2021-22 to 46.3% in FY 2022-23 (April to October), says Minister of State for Petroleum and Natural Gas, Rameswar Teli in a written reply to a question in Lok Sabha.

The government has taken multiple steps/launched various policy initiatives to increase domestic production of natural gas and adopted strategies for promotion of biofuels. These, inter-alia, include support for compressed biogas, national gas grid for pipeline infrastructure, city gas distribution Networks and LNG regasification terminals are being developed to ensure availability of gas to all demand centres.

Under production sharing and revenue sharing contract regimes, hydrocarbon (oil and gas) exploration activities are carried out by the operating companies. As reported by operating companies, an investment of approximately US $1.8 billion (provisional) has been made in exploration activities, in the last 5 years.