SNEHIT PHOTO/Shutterstock Save for later Print Download Share India’s aim to double natural gas consumption by 2030 and boost the fuel's role in the country's energy mix hinges on buyers' ability to secure affordable imports into one of the world's most price-sensitive markets. Stagnating domestic production combined with an expanding base of demand means India will become increasingly reliant on LNG imports to meet the expected growth in consumption. Indian buyers are now actively seeking term contracts to insulate themselves from volatile spot pricing. Indian gas demand could be at an inflection point after more than a decade of slow growth. The International Energy Agency (IEA) expects annual Indian demand to grow by a relatively conservative 60% from 2023 levels to 103 billion cubic meters by 2030, versus roughly 10% growth year on year in 2024. Indian demand also grew 10% in 2023, according to IEA data, but followed a 6.5% drop in gas demand in 2022 due to record-high LNG prices, underscoring Indian buyers' price sensitivity. For its part, New Delhi intends to more than double gas' share of the country’s energy mix to 15% by 2030. That would require annual consumption to reach about 183 Bcm by 2030 from about 73 Bcm now. India was the world's fourth-largest LNG importer in calendar 2024 for the second year in a row, data from tanker tracker Kpler shows. India imported a record 28.4 million tons of LNG in the fiscal year that ends this month, according to oil ministry projections.