BW LPG is now the largest maritime provider of safer, clean-burning LPG for India.
In India, indoor pollution from cooking with biomass is estimated to cause about 1.1 million deaths per year. In response, the government of India has launched a program to bring LPG access to 80 million households below the poverty line. Through BW Global United LPG India (“BW LPG India”), we are increasing LPG imports into India to support the transition to cleaner burning energy. When LPG replaces dangerous sources of traditional fuels, it directly saves lives.
India Is An Important LPG Market
India is the world’s second largest importer of LPG, and long-term trends are expected to support growing domestic demand. Imports of LPG grew 12.5% over the past five years to 12 million metric tonnes in 2018-19, and are projected to rise 34% from 2014 to 2025. LPG growth is driven primarily by increased retail demand and strong government support for LPG consumption. Investments in import infrastructure and biomass displacement also support demand.
LPG demand in the residential sector is expected to increase at a cumulative annual growth rate (CAGR) of 3.3%, reaching 34 million tonnes in 2030 as households’ dependence on traditional biomass diminishes in the long run, supported by rising average household income, increasing urbanisation, and government schemes to help families switch from traditional biomass to LPG.
A Part of India’s Growth Story
In the three years since inception in July 2017, BW LPG’s subsidiary has increased its fleet to five vessels, becoming India’s largest owner and operator of VLGCs. The VLGCs are maintained to world-class standards and are positioned to support the growing Middle East- India time charter market.
BW LPG India offers customers in India the assurance of over 50 years of operating experience, access to a large pool of experienced employees, a strong brand and industry-leading customer relations.
Towards a Better World with LPG
At the core of our sustainability approach is the purpose of our Company – where we work towards a Better World. We want to take the lead in transitioning the world towards cleaner energy, and in the process be a trusted, transparent, and reliable partner for our stakeholders. It is in India where we can showcase how energy can be used to uplift communities, and how companies can do good while doing well.