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Long Term Study: Petronet LNG

Prime Minister Narendra Modi has set a target to raise the share of natural gas in the country's energy mix to 15% by 2030 from the current 6.3% to cut its carbon footprint. Replacing about 30% of the country’s crude oil imports with LNG would save $10 billion at the current global oil price of $74/barrel, he said

The share of liquefied natural gas (LNG) in India’s gas consumption could rise to 70% from the current 50% in 10 years, and new import terminals are needed. To meet that target India's gas consumption needs to rise to 640 million standard cubic metres a day (mmscmd) from the current 155 mmscmd, AK Singh, chief executive of Petronet LNG

Indian companies are investing billions of dollars to strengthen gas infrastructure, including laying 15,000-kilometer pipelines to supply cleaner fuel to households and industries. India currently has 17,000 kms of the gas pipeline network.

Also, LNG projects of 19 million tonnes per annum (mtpa) capacity are under construction and plans are afoot to increase the use of LNG in trucks and buses.

Petronet LNG shares are now trading at Rs. 225 as we write this article and we can see it crossing Rs. 300 in near future is what can be expected.

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