Fueling the future: India’s oil and gas story

India’s oil and gas sector is emerging as one of the most compelling long-term structural growth stories, supported by rising energy demand, rapid urbanization, and the country’s transition toward cleaner fuels. Despite being one of the world’s largest energy consumers, natural gas still contributes only ~6% to India’s energy mix compared to the global average of ~24%, highlighting the significant headroom for future growth. To bridge this gap, the government is aggressively expanding gas infrastructure across pipelines, LNG terminals and city gas distribution networks, while targeting gas penetration of 15% by 2030.