ES Ranganathan on 2024's Natural Gas Boom: Petrochemical, Power, and Industry
India saw a notable increase in natural gas demand in 2023, marking a key moment in the country's energy sector. ES Ranganathan, the former Managing Director of IGL, believes this trend will continue in 2024, driven by strong demand from the petrochemical, power generation, refinery, and industrial sectors.
"In 2023, India's natural gas demand reached 64 billion cubic meters, a 5% rise from the previous year," says ES Ranganathan. This increase highlights the growing role of natural gas in India's energy mix, fueled by the expanding economy and the shift toward cleaner energy sources. The petrochemical industry has been a major contributor, using natural gas as a key material in chemical processes. "The power generation sector has also increasingly turned to natural gas as a cleaner alternative to coal, helping to lower carbon emissions and improve air quality," adds ES Ranganathan.