India's gas demand returns to pre-disruption levels, but global LNG competition rises: Equirus
India’s gas consumption increases 7% m-o-m and 2% y-o-y to 197 mmscmd in June
India's natural gas consumption returned to near pre-disruption levels in June 2026, according to a research report by Equirus. Consumption increased 7% month-on-month and 2% year-on-year to 197 million metric standard cubic metres per day (mmscmd), with the growth driven by imported gas, with LNG consumption rising 13% month-on-month and 10% year-on-year to 110 mmscmd.
Domestic gas supply remained flat, taking India's import dependence to 56%. However, rising global LNG competition and elevated spot prices pose potential risks to the outlook.
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