Indian LNG demand & the global LNG market

摘要

India is poised to become the most populous country in the world by 2024.(1) During the past 20 years, the country has experienced an economic boom as it has consistently seen GDP levels rise between 5 per cent and 8 per cent each year. 2 In order to fuel this economic growth, India's energy sector has also grown steadily. 3 Unfortunately, India's only real domestic natural resource is coal, so oil and natural gas have had to be imported in huge quantities to support demand. As domestic production has lagged in recent years, liquefied natural gas imports have increased so much that the country is now the world's fourth largest importer. Many experts have predicted India's demand to double over the next 10 years. If true, this demand could help to stabilize the industry, allowing for greater global investment. This article sets out to better explain India's rise in LNG demand and discuss many of the factors that both positively and negatively affect this demand. At the end of the article, hypotheses will be made outlining two differing scenarios regarding whether or not this demand and India's energy portfolio goals will be met.