2013-03-04 11:19:21 - MarketResearchReports.biz Publishes Liquefied Natural Gas Market - Global Industry Size, Market Share, Trends, Analysis And Forecasts, 2012 - 2018
Liquefied natural gas (LNG) is a natural gas (predominantly methane, CH4) that has been converted to liquid form for ease of storage or transportation. LNG takes up about 1/600th the volume of natural gas in the gaseous state. It is odorless, colorless, non toxic and non-corrosive in nature. The world knows about the impact and utility of natural gas and has realized that LNG may facilitate their need to reduce the share of coal & oil from their energy portfolio. There is a significant level of development in global LNG trade, with imports and exports of LNG forming a vital part of countries’ relationship with each other. However, the negotiation over LNG prices has become a substantial issue for trading
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The world is shifting towards a cleaner and efficient fuel source in the form of natural gas, which in turn is leading the market for LNG. The global demand for LNG was estimated to be around 250 million tons in the year 2010 which helped the market to generate total revenue of around USD 73.2 billion in the year 2010 which is expected to reach USD 127 billion by 2016 growing at a CAGR of 2.5% during 2010 to 2016. It is also analyzed that between 2012 and 2015 the LNG capital expenditure will exceed USD 300 billion.
The shift towards a cleaner and efficient fuel is driving the market for natural gas which is helping the LNG market along its way. Other drivers for the LNG market includes: Increasing price of crude oil, Japanese nuclear crisis and ever increasing demand from developing nations. However, insufficient market for LNG in the US and the financial forecasting difficulty due to pricing disparities are acting as a restraint for the market. It has also been analyzed that by 2020 the global LNG demand will exceed the supply leaving a supply-demand gap of around 75 million tons.
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The Asian market is the leading market of LNG. Japan is the world’s largest consumer of LNG and emerging economies like China, India, and Korea are increasing their supply and demand for LNG. About 100 LNG terminals are scheduled for operation between the years 2012 to 2020. Opportunity also exists for market players as over 316 MTPA of LNG is still available for sale purchase contracts in 2020.
The major players in the existing LNG market includes: Exxon MOBIL, Shell, Total, Ras Gas, Qatar Petroleum, Korea Gas Corporation to name a few of many.
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