Natural Gas Market

5 Things to Know About the Booming Global Liquified Natural Gas Market

25 February 2020
Energy
Natural Gas Market

These days, with a call for cleaner, more affordable, and reliable natural gas solutions, the global liquified natural gas (LNG) market is booming. In fact, because of these reasons, LNG has become one of the fastest-growing commodities in the world. This means that stakeholders have a chance to make big returns in the years ahead.

As one of the world’s leading LNG market share and technology research firms, Visiongain has made it their business to keep stakeholders informed of the major changes taking place. Let’s look at five of the most important things to know in the LNG sector.

1. Rapid Growth

According to studies, LNG market shares grew approximately 8% from 2018, and more than 30% from 2015. The commodity now accounts for approximately 14% of natural gas sales worldwide, making it in extremely high demand globally.

2. Flexible Contract Styles

More and more LNG companies are now changing the ways they do business. LNG market share research shows that many markets, the U.S market, in particular, have favored more flexible contract styles to generate growth. For example, U.S. export firms are offering contracts that include shorter liquidity and short-term solutions to boost business; this, in turn, will help them turn LNG into more of a global commodity.

3. Asia Remains a Key Player

Recent LNG market share reports show that the Asia-Pacific region will remain a key player in the development of new micro and traditional LNG technologies, as well as overall global market share. LNG still accounts for a small amount of China’s energy demand but it’s looking to expand upon this in years ahead, as shown by its rapid growth since 2017.

4. Qatar will Likely Remain a Leader

Although other regions are coming to the forefront and carving out a higher LNG market share, Qatar will still likely remain a global leader in the industry. This is due in large part to its state-sponsored ship manufacturer Nakilat, which operates 70 LNG vessels around the world. Qatar has also announced it plans on investing more than $20 billion in energy projects throughout the U.S. in the coming years.

5. The U.S. is Poised to Become a Global Leader

In the coming years, the U.S. is poised to become a major LNG market share leader. This is due in large part to three export facilities being developed, which could make it a top player as early as 2024.

Let us provide you with the LNG market share info you need!

When it comes to insight into the LNG and micro LNG technology market, Visiongain has all of the up-to-date data to help you make the right decisions in the years ahead. To learn more about our market share reports and forecasts, contact us online today or call one of our representatives at +44 (0) 20 7549 9987.

Recent News

Visiongain Publishes Oil & Gas Pipeline Leak Detection Market Report 2021-2031

The COVID-19 crisis has dramatically affected oil and gas production and demand, leaving no midstream markets untouched as drilling screeched to a halt, pipeline projects were sidelined and global storage neared capacity in a stark reversal of trends at the start of 2020.

25 November 2020

Read

Visiongain Publishes Chemical Enhanced Oil Recovery (EOR) Market Report 2020-2030

Increasing oil consumption, high recovery rates through successful implementation of CEOR, coupled with high cost of new exploration is expected to drive the implementation of CEOR over the coming years.

22 October 2020

Read

Visiongain Publishes Carbon Capture, Transportation & Storage Market Report 2021-2031

Visiongain expects that various public support mechanisms will remain the principal driver throughout the forecast period. Estimates for the cost of CCS range between research papers as well as between capture technologies and plant characteristics.

02 October 2020

Read

Visiongain Publishes Coal Tar Market Report 2020-2030

Supply gap due to production halt brought about by COVID-19 pandemic is expected restrict sales growth. However, the rising demand for coal tar products from the healthcare sector is expected to stabilize market growth during the forecast period.

25 September 2020

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever