India's Energy Demand May Double, Energy Exploration Restriction Could Relax

Indian Prime Minister Narendra Modi said at the opening ceremony of India Energy Week in 2023 on Monday that due to the rapid development of India's economy, its energy demand will increase exponentially. Modi expects India's gas demand to grow by 500%, while the demand for oil could potential double with its share in global oil demand rising from 5% to 11%. Modi did not provide a specific time frame for the forecast, but said India's energy demand will reach its highest level by 2030.