In this report, analysed India’s potential savings on gas imports and an improved trade balance in a 1.5°C compatible low gas scenario. The analysis shows that if India aligns with a 1.5°C compatible pathway, it would lead to gas import savings of USD 9-24 bn in 2030 under various price and import assumptions. This would result in average annual import savings of USD 5-12 bn between 2021-2030 under various import assumptions.
Gas is a fossil fuel and not a viable ‘bridge’ for the energy transition. Yet, we continue to see expansion and investments in fossil gas around the world. The Indian government has recently announced that it plans to increase its share of gas consumption, and transform the country into a “gas-based economy”. It has set a target to increase the share of gas in its energy mix from 6% in 2021 to 15% by 2030.
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