ONGC’s KG Vashishta Gas Field to Reach Peak Output in July
India: The fields currently
produce 1.1 million standard cubic meters per day and were developed under a
greenfield deepwater development project at a cost of USD751.65 million.
Vashishta
field is projected to deliver 9.56 billion cubic metres (bcm) of gas spread over
nine years with peak production reaching 3.55 million metric standard cubic
metres a day (mmscmd) during the initial five years. The S1 field is projected to
produce 6.22 bcm of gas covering a period of eight years with a peak production
reaching 2.2 mmscmd in the first five years.
TechSci Research forecasts that owing to availability of huge natural
gas reserves in India, its environmental friendliness, easy transportability
and city gas distribution is forecasted to witness robust growth in the country
over the next decade. CNG is being increasingly used in transportation sector,
where it acts as a fuel for vehicles like taxi, cars, LCVs/RTVS and autos,
while Piped Natural Gas (PNG) is used as a fuel by domestic consumers
(households), commercial consumers (hotels, offices, canteens, etc.), and
industrial consumers (dryers, boilers, furnace, etc.) in the country. The
planned investment by Cairn India would certainly increase its current
production and help meet the surging gas demand fueled by the rapid
urbanization that India is undergoing.
According to released report of
TechSci Research “India City Gas Distribution Market Forecast and Opportunities, 2030”, the City Gas Distribution (CGD) market in India
grew at a CAGR of 6.25% during 2013 - 2015. In 2015, India CGD market was
dominated by transportation sector owing to increasing number of Compressed
Natural Gas (CNG) vehicles as well as filling stations.