1. Executive Summary
1.1 The Gas to Liquids Market Overview
1.2 Drivers and Restraints in the Gas to Liquids Market
1.2.1 Drivers in the Gas to Liquids Market
1.2.2 Restraints in the Gas to Liquids Market
1.3 Highlights of the Report
1.4 Benefits of the Report
1.5 Methodology
1.6 The Global Gas to Liquids Market Forecast 2011-2021
1.7 Leading Regional and National Gas to Liquids Markets Forecast 2011-2021
2. Introduction To The Gas To Liquids Market
2.1 Natural Gas Markets Outlook 2011
2.2 The Gas to Liquids Market Overview
2.3 A Brief History of the Gas to Liquids Market
2.4 Gas to Liquids Technologies
2.4.1 Fischer-Tropsch Process
2.4.2 Synthesis Gas
2.4.3 ExxonMobil Process
2.4.4 Rentech Process
2.4.5 Sasol Process
2.4.6 Shell Process
2.4.7 Statoil Process
2.4.8 Syntroleum Process
2.4.9 Other Notable GTL Processes
2.5 Gas to Liquids Products
2.5.1 GTL Naphtha
2.5.2 Middle Distillates
2.5.3 Base Oils
3. The Global Gas to Liquids Market Forecast 2011-2021
3.1 Drivers & Restraints of the Gas to Liquids Market
3.2 Drivers
3.2.1 Oil & Gas Price Spread
3.2.2 Ready for Market Petroleum Products
3.2.3 Growing Demand for Clean Energy
3.2.4 Environmental Regulation
3.2.5 Need to Monetise Stranded and Flared Gas
3.2.6 Energy Security
3.3 Restraints
3.3.1 Obtaining Financing for GTL Projects
3.3.2 Challenges in Size and Availability of Natural Gas
3.3.3 Proving the Viability of GTL Technology
3.3.4 The Long Term Price of Natural Gas
4. The Regional & National Gas to Liquids Market Forecast 2011-2021
4.1 The Middle East Gas to Liquids Market Forecast 2011-2021
4.1.1 The Qatari Gas to Liquids Market Forecast 2011-2021
4.1.2 The Iranian Gas to Liquids Market Forecast 2011-2021
4.2 The African Gas to Liquids Market Forecast 2011-2021
4.2.1 The South African Gas to Liquids Market Forecast 2011-2021
4.2.2 The Nigerian Gas to Liquids Market Forecast 2011-2021
4.3 The Asia-Pacific Gas to Liquids Market Forecast 2011-2021
4.3.1 The Malaysian Gas to Liquids Market Forecast 2011-2021
4.3.2 The Australian Gas to Liquids Market Forecast 2011-2021
4.3.3 The Japanese Gas to Liquids Market Forecast 2011-2021
4.4 The North American Gas to Liquids Market Forecast 2011-2021
4.4.1 The US Gas to Liquids Market Forecast 2011-2021
4.4.2 The Canadian Gas to Liquids Market Forecast 2011-2021
4.5 The Latin American Gas to Liquids Market Forecast 2011-2021
4.5.1 The Trinidad & Tobago Gas to Liquids Market Forecast 2011-2021
4.5.2 The Brazilian Gas to Liquids Market Forecast 2011-2021
4.6 The CIS Gas to Liquids Market Forecast 2011-2021
4.6.1 The Uzbekistan Gas to Liquids Market Forecast 2011-2021
4.6.2 The Russian Gas to Liquids Market Forecast 2011-2021
4.7 The European Gas to Liquids Market Forecast 2011-2021
4.8 The National Gas to Liquids Market Forecast Comparison
5. SWOT Analysis of the Gas to Liquids Market 2011-2021
5.1 Strengths
5.1.1 Oil-Gas Price Spread
5.1.2 Rising Petroleum Demand
5.1.3 Ready for Market Petroleum Products
5.2 Weaknesses
5.2.1 High Capital Costs
5.2.2 Operational Sustainability
5.2.3 Air Separation Unit (ASU)
5.2.4 Technical Challenges
5.3 Opportunities
5.3.1 Environmental Concerns
5.3.2 Government Regulations
5.3.3 Monetisation of Stranded and Flared Gas
5.3.4 Declining Oilfield Production
5.3.5 National Security
5.4 Threats
5.4.1 Gas Price Rise
5.4.2 Weak Economic Growth in OECD
5.4.3 Political Risk
6. Expert Opinion
6.1 Syntroleum Corporation
6.1.1 Syntroleum Corporation Technology & Products
6.1.2 Syntroleum Demonstration Plants
6.1.3 Syntroleum's Competitors
6.1.4 Size of the GTL Market
6.1.5 Drivers of the Gas to Liquids Industry
6.1.6 Growth Regions for Gas to Liquids Industry
6.1.7 The Most Suitable Location for GTL Plants
6.1.8 Capital Expenditure Required for Gas to Liquids Plant
6.1.9 The Constraints to Growth for Syntroleum and the GTL Industry
6.1.10 Project Financing Remains an Obstacle
6.1.11 The Crash in the GTL Market in 2001
6.1.12 Market Price of GTL Products
6.2 Velocys Inc.
6.2.1 Velocys Inc. & Oxford Catalyst
6.2.2 Oxford Catalyst's Organic Matrix Combustion (OMX)
6.2.3 OMX Simplified
6.2.4 Microchannel GTL Technology
6.2.5 Demonstration Plants in Operation
6.2.6 Offshore GTL Facility on a Floating, Production, Storage and Offloading (FPSO) Vessel
6.2.7 Velocys Main Competitors
6.2.8 Typical Cost of a GTL Facility
6.2.9 Cost of Velocys Microchannel Reactors
6.2.10 Operational Costs of Velocys GTL Facility
6.2.11 Who Uses GTL Technology
6.2.12 Drivers of the Gas to Liquids Industry
6.2.13 Constraints to Growth for the GTL Industry
6.2.14 Constraints to Growth for Velocys
6.2.15 Growth Markets for GTL
6.2.16 GTL Market Potential
7. Leading Companies in the Gas to Liquids Market
7.1 The Two Market Leaders
7.1.1 Royal Dutch Shell plc (Shell)
7.1.2 Sasol Limited
7.1.2.1 Sasol Chevron
7.1.2.2 Sasol Synfuels International (SSI)
7.2 Major Companies in the Gas to Liquids Market
7.2.1 BP plc
7.2.2 Central Petroleum Ltd
7.2.3 Chevron Corporation
7.2.4 ConocoPhillips Corporation
7.2.5 Eni S.P.A
7.2.6 ExxonMobil Corporation
7.2.7 General Electric Company (GE)
7.2.8 GTL Resources plc
7.2.9 Ivanhoe Energy Canada Inc.
7.2.10 Linc Energy
7.2.11 Marathon Oil Corporation (Marathon)
7.2.12 Narkangan Gas to Liquid International Company (Narkangan)
7.2.13 PetroSA Pty Ltd
7.2.14 Statoil ASA
7.2.15 World GTL, Inc
7.3 Gas to Liquids Technology Licensors and Promoters
7.3.1 Davy Process Technology Ltd
7.3.2 GTL.F1
7.3.3 Rentech, Inc. (Rentech)
7.3.4 Syntroleum Corporation
7.4 Small Scale Gas to Liquids Developers
7.4.1 1st Resource Group, Inc.
7.4.2 CompactGTL plc
7.4.3 Oxford Catalysts Group plc
7.4.4 Velocys, Inc
7.5 State Owned Companies Involved in the Gas to Liquids Market
7.5.1 Nigerian National Petroleum Company (NNPC)
7.5.2 Nippon GTL Technology Research Association (Nippon-GTL)
7.5.3 Petroliam Nasional Berhad (Petronas)
7.5.4 Petroleum Company of Trinidad & Tobago Limited (Petrotrin)
7.5.5 Qatar Petroleum
7.5.6 Uzbekneftegaz National Holding Company (Uzbekneftegaz)
7.6 Engineering Companies Involved in GTL
7.6.1 Chiyoda Corporation
7.6.2 Emerging Fuels Technology, Inc.
7.6.3 Lurgi PSI Inc.
7.6.4 Toyo Engineering Corporation
7.6.5 Zeton Inc
8. Conclusions
8.1 Concluding Observations on the Gas to Liquids Market 2011-2021
8.2 High Growth Regional Gas to Liquids Markets
8.3 Medium Growth Regional Gas to Liquids Markets
8.4 Low Growth Regional Gas to Liquids Markets
8.5 Observations on the Oil & Gas Outlook
9. Glossary
List of Tables
Table 2.1 Current & Proposed GTL Projects, Country, Company Capacity (b/d), Cost ($bn) and Status
Table 2.2 Proposed GTL Projects That Were Discontinued, Country, Company, Capacity (b/d)
Table 3.1 Global Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 3.2 Global Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 3.3 Regional Gas to Liquids Markets Forecast 2011-2021 ($m, AGR %)
Table 3.4 Drivers & Restraints in the Gas to Liquids Market 2011-2021
Table 3.5 GTL and EU EN590 ULSD Diesel Characteristics (Density, kg/m3, Cetane Number, Poly-aromatics, max (volume %), Sulphur, max ppm)
Table 4.1 Middle East Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.2 Middle East Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.3 Middle East Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.4 Qatar Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.5 Qatar Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.6 Qatar Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.7 Iran Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.8 Iran Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.9 Iran Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.10 African Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.11 African Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.12 African Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.13 South African Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.14 South African Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.15 South African Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.16 Nigerian Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.17 Nigerian Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.18 Nigerian Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.19 Asia-Pacific Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.20 Asia-Pacific Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.21 Asia-Pacific Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.22 Malaysian Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.23 Malaysian Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.24 Malaysian Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.25 Australian Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.26 Australian Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.27 Australian Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.28 Japanese Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.29 Japanese Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.30 Japanese Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.31 North American Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.32 North American Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.33 North American Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.34 US Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.35 US Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.36 US Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.37 Canadian Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.38 Canadian Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.39 Canadian Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.40 Latin American Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.41 Latin American Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.42 Latin American Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.43 Trinidad & Tobago Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.44 Trinidad & Tobago Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.45 Trinidad & Tobago Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.46 Brazilian Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.47 Brazilian Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.48 Brazilian Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.49 CIS Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.50 CIS Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.51 CIS Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.52 Uzbekistan Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.53 Uzbekistan Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.54 Uzbekistan Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.55 Russian Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.56 Russian Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.57 Russian Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 5.58 European Gas to Liquids Market Forecast Summary 2011, 2016 and 2021 ($m, Rank, % Share, CAGR %, Cumulative)
Table 4.59 European Gas to Liquids Market Forecast 2011-2021 ($m, AGR %)
Table 4.60 European Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Table 4.61 Leading National Gas to Liquids Market Forecasts 2011-2021 ($m, AGR %)
Table 4.62 National Gas to Liquids Market Forecast CAGR (%) 2011-2021, CAGR Rank 2011-2021, Market Share (%) & Rank 2011, 2016, 2021 and Cumulative Market Value ($m)
Table 5.1 SWOT Analysis of the Gas to Liquids Market 2011-2021
List of Figures
Figure 1.1 Comparative Regional Gas to Liquids Markets Revenue By Region 2011, 2016 & 2021 ($m)
Figure 1.2 Gas to Liquids Market Share By Region, 2011 (%)
Figure 1.3 Gas to Liquids Market Share By Region, 2016 (%)
Figure 1.4 Gas to Liquids Market Share By Region, 2021 (%)
Figure 2.1 Henry Hub Gulf Coast Natural Gas Spot Price 1998-2011 ($/MMBtu)
Figure 2.2 Oil-Gas Price Spread 1997-2011 ($/MMBtu, $/Barrel)
Figure 2.3 Flared-Gas By Country 2008-2010 (bcm)
Figure 2.4 Yield Per Refinery Barrel Crude Oil vs. GTL-FT (volume %)
Figure 3.1 Global Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 3.2 Global & Regional Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Figure 3.3 The Middle East, African, Asia-Pacific, North American & CIS Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 3.4 The European & Latin American Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 3.5 Global Natural Gas Reserves By Geographic Region As Of January 2011 (tcf)
Figure 4.1 Middle East Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4 2 Middle East Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.3 Middle East Proven Natural Gas Reserves 2011 (tcf)
Figure 4.4 Qatar Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.5 Qatar Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.6 Qatar Natural Gas Production and Consumption 1990-2010 (bcm)
Figure 4.7 Iran Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.8 Iran Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.9 African Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.10 African Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.11 Top African Gas Flares 2009 & 2010 (bcm)
Figure 4.12 South African Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.13 South African Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.14 Nigerian Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.15 Nigerian Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.16 Asia-Pacific Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.17 Asia-Pacific Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.18 Asia-Pacific Proven Natural Gas Reserves January 2011 (tcf)
Figure 4.19 China Natural Gas Production and Consumption 1990-2010 (bcf)
Figure 4.20 India Natural Gas Production and Consumption 1990-2010 (bcf)
Figure 4.21 Malaysian Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.22 Malaysian Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.23 Australian Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.24 Australian Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.25 Japanese Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.26 Japanese Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.27 North American Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.28 North American Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.29 US Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.30 US Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.31 US Natural Gas Production & Consumption 1990-2010 (bcf)
Figure 4.32 Canadian Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.33 Canadian Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.34 Canadian Natural Gas Production & Consumption 1990-2010 (bcf)
Figure 4.35 Latin American Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.36 Latin American Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.37 Trinidad & Tobago Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.38 Trinidad & Tobago Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.39 Brazilian Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.40 Brazilian Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.41 Brazilian Natural Gas Production & Consumption 1990-2010 (bcf)
Figure 4.42 CIS Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.43 CIS Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.44 CIS Proven Gas Reserves (tcf)
Figure 4.45 Uzbekistan Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.46 Uzbekistan Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.47 Uzbekistan Gas Production & Consumption 1990-2010 (bcf)
Figure 4.48 Russian Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.49 Russian Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.50 Russian Natural Gas Production & Consumption 1990-2010 (bcf)
Figure 4.51 European Gas to Liquids Market Share Forecast 2011, 2016 and 2021 (% Share)
Figure 4.52 European Gas to Liquids Market Forecast 2011-2021 ($m)
Figure 4.53 Qatar, South Africa & Nigeria Gas to Liquids Market Forecast Comparison 2011-2021 ($m)
Figure 4.54 Canada, Malaysia, US, and Uzbekistan Gas to Liquids Market Forecast Comparison 2011-2021 ($m)
Figure 4.55 Australia, Brazil, Europe, Iran, Japan, Russia and Trinidad & Tobago Gas to Liquids Market Forecast Comparison 2011-2021 ($m)
Figure 4.56 National Gas to Liquids Market Forecast CAGR (%) 2011-2021, 2011-2016, and 2016-2021
Figure 7.1 Rentech Revenues 2007-2012 Forecast ($m)
Figure 7.2 Syntroleum Revenues 2007-2012 Forecast ($m)