Global Liquefied Natural Gas (LNG) Market Size, Trends & Forecasts (2017-2021)
- Report Description Table of Contents
Scope of the Report
The report entitled “Global Liquefied Natural Gas (LNG) Market Size, Trends & Forecasts (2017-2021)” provide a detailed analysis of global LNG market with analysis of market size and growth. The analysis includes market size in terms of trade volume, demand, and LNG export and import market share by country.
The report provides brief regional analysis of Middle East, JKT (Japan, Korea and Taiwan), China-India, Europe and Americas. Regional analysis include market sizing in terms of export, import and demand. The Middle East has been the largest exporting region over the past few years and is expected to remain the largest exporter of LNG globally.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the global LNG market has also been forecasted for the period 2017-2021, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
A brief company profiling of major market players namely Royal Dutch Shell, ExxonMobil, BP Global and Chevron Corporation has been provided in the report on the basis of aspects like business overview, financial overview and business strategies adopted by respective companies.
- ExxonMobil Corporation
- Royal Dutch Shell
- BP Global
- Chevron Corporation
- Middle East
- JKT (Japan, Korea and Taiwan)
Natural gas is one of the safest, cleanest and most used form of energy which gives both heat and light. Natural gas is hydrocarbon which means it is made up of compounds of hydrogen and carbon, containing seventy to ninety percent methane in most cases. It can be used as fuel in many sectors as; transportation, industrial, agricultural, and a raw material for petrochemical industry. There are three forms of natural gas: pipe natural gas, natural gas for vehicle (NGV) and liquefied natural gas.
LNG is a clear liquid which forms when natural gas is cooled to -162ºC (-260ºF). The cooling process shrinks the volume of the gas 600 times, making it easier and safer to store and ship LNG is produced at the so-called liquefaction facilities (plants), following which it can be transported in special cryogenic tanks: sea tank ships or tank cars. It enables rapid delivery of gas to the areas located far from the gas trunk lines.
The global LNG trade volume has increased over the years and projections are made that the market would rise in the next five years i.e. 2017 to 2021 at a rapid pace. Major factors contributing in the increasing trade volume of LNG are startup of several new projects in Australia and Indonesia, rapid economic growth especially of emerging economies, and rising demand for environmentally cleaner fuels etc.
In the forecasted period, market would be pushed by increase in LNG exports, lower shipping cost, technological advancements and access to new markets etc. In spite of high growth in trade volumes of LNG, market is still facing some challenges that are obstructing the growth of the global LNG market. Challenges faced by LNG industry are supply and demand imbalance, lower LNG prices, competition from fossil fuels and renewable energy and emergence of regional trade etc.