Natural gas is predicted to increase its share in the energy mix of the US, China, and India by 2050, as oil and coal usage decline globally. This shift is due to scalability and commercial challenges hindering a direct shift to renewables, making natural gas a crucial bridge in the global energy transition.

Renewables are projected to supply 20% of global energy by 2050, up from 4% currently. Gas is expected to be the only fossil fuel with a potential increase in the energy mix for the US, China, and India. The report highlights coal-to-gas substitution as a key driver of the energy transition.

India’s energy mix remains heavily reliant on fossil fuels, with oil and gas accounting for 77% of primary energy use. However, the country is expected to transition to natural gas as a more flexible and cleaner alternative to coal by 2050. The government’s initiatives like PAHAL and National Green Hydrogen Mission are driving this transition.

S&P Global Commodity Insights revealed that India could tap into largely unexplored sedimentary basins that could hold up to 22 billion barrels of oil. This discovery positions India as a potential major player in the global oil market, despite its current reliance on oil imports due to declining domestic production.

India’s New Exploration and Licensing Policy aims to attract private and foreign companies to invest in the country’s oil and gas sector. The policy promotes exploration and production through competitive bidding for exploration blocks, aiming to increase domestic production to meet rising energy demand and reduce import dependence.

Read more at Yahoo Finance: Natural Gas to Dominate U.S., China and India’s Energy Mix By 2050