India's gas output to jump 52% by 2024 led by ONGC, Reliance-BP

The increase in production augments well with the government plans for raising the share of natural gas in the country's energy basket

India's natural gas production is projected to jump by 52% to 122 million standard cubic metres per day by 2024 as State-owned Oil and Natural Gas Corporation (ONGC) and Reliance Industries Ltd-BP combine raise output from the KG basin fields. Natural gas production in 2019-20 was 85 million metric standard cubic meter per day (mmscmd), which is estimated to have fallen to 80 mmscmd in the following year, HDFC Securities said in a report. The output is projected to rise in the current fiscal that started on April 1 to 93 mmscmd, 107 mmscmd in the following year and 122 mmscmd in 2023-24, the brokerage estimated.