India LNG market report

India will overtake South Korea as the third-largest Asian LNG market by the mid-2030s and become the second-largest by the mid 2040s, overtaking Japan. The country's annual LNG demand growth is expected to be 5.5% from 2020 to 2030 and 4% from 2030 to 2050. To support this strong demand, LNG regas capacity is expected to increase from 42 mmtpa in 2020 to about 76 mmtpa by 2030. In the longer-term, pipeline infrastructure development will be the key driver for LNG and gas demand growth. Production will grow by about 5 bcm from 2022 to 2025, resulting in a more moderate pace of LNG demand growth during this period in our outlook. As legacy LNG supply contracts roll-off from the mid-2020s, existing and emerging buyers will look to ensure supply security with new long-term volumes. Read our latest India LNG long-term outlook report to find out more, including the latest view of supply-demand balance, contracts, regas infrastructure, policy & regulation.