India's natural gas production is expected to double

India's natural gas production is expected to double
in the next four years, according to a statement from the country's Ministry of Oil, according to a statement from the country's oil ministry, according to the Today's crude oil price website reported on August 31.
If growth continues as expected, natural gas production will reach a staggering 2 billion cubic meters by 2022 (an impressive figure, especially compared to the 3.
5 billion cubic meters of gas produced by the state in the last fiscal year).

This development is largely due to a comprehensive government plan to shift the subcontinent from its honor as the world's third-largest oil consumer to a natural gas-based economy
.

In addition to the substantial increase in production and usage, experts also predict a major shift
in the composition of India's major producers themselves.
Until now, the gas extraction industry has been dominated
by India's state-owned exploration company Oil & Gas Corporation (ONGC).
In fact, this single company accounted for a staggering 2.
42 billion cubic meters, or 68 percent
, of India's total natural gas production last fiscal year.
In comparison, private companies and their joint ventures are responsible for only 790 million cubic meters
.
Looking ahead, however, this dynamic is expected to fluctuate
significantly.
Private and joint ventures could account for 4.
03 billion cubic meters by 2022, leading Indian oil and gas companies
amid historic unease.