Indian Gas Demand Recovers to Near Pre-Disruption Levels Amid Global LNG Competition

India's natural gas consumption has recovered to near pre-disruption levels in June 2026, driven by broad-based demand growth across key sectors. According to a research report by Equirus, India's gas consumption increased 7 per cent month-on-month and 2 per cent year-on-year to 197 million metric standard cubic metres per day (mmscmd) in June.

The increase was entirely driven by imported gas, with LNG consumption rising 13 per cent month-on-month and 10 per cent year-on-year to 110 mmscmd. Domestic gas supply remained flat month-on-month at 87 mmscmd and declined 8 per cent year-on-year, taking India's import dependence to 56 per cent.

Equirus noted that May consumption was revised significantly higher to 184 mmscmd from the earlier 169 mmscmd, while LNG imports were revised to 97 mmscdm from 83 mmscmd. This revision has altered the demand narrative, suggesting that the recovery was already stronger than initially estimated.