Who wins as India's domestic gas surges? Report

Insight 19 July 2021

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

The much-awaited surge in supply from Reliance and BP’s deepwater projects is here. Additional volumes are on the way from ONGC and Vedanta during 2021-22. Buyers are delighted, as new domestic supply offers optionality at a time of record LNG prices. Upstream players are expected to make returns that they wouldn’t have imagined 12-15 months ago. Gas buyers and aggregators are making the most of this opportunity to boost margins and create a portfolio of low-cost gas supply.

Executive summary
- Better late than never - domestic supply growth materialises
- Why domestic gas is able to compete against spot LNG
- 1) Enhanced domestic gas marketing practices
- 2) Favourable domestic gas pricing mechanisms
- The importance of the ceiling price
- 3) A unified pipeline tariff regime
- Buyers riding the wave of ample and cheap domestic gas
- Beyond 2025 – a return to the norm?

Tables and charts

This report includes the following images and tables:

Gas production by shore status
Gas production by company (net)
Price and cost of supply comparison

Delivered gas prices to Gujarat from different supply source (2021) with or without unified tariff policy
Delivered price comparison (2021) of competing fuels
Percentage share of overall gas supply mix (2020-2030)