NEW YORK, Jan. 7, 2016 /PRNewswire/ -- This BCC Research report on natural gas storage market anticipates technology shifts, evaluates pricing trends for key North American and European wholesale gas markets, assesses the impacts of new and proposed infrastructure on liquefied natural gas (LNG) and underground gas storage projects, and determines their effects on the market, and identifies the key structural and strategic factors that will drive growth and opportunity in the LNG and natural gas storage industry to 2020.
Use this report to:
Assess how new technology developed by the industry has greatly reduced the cost of storing and delivering natural gas and LNG to customers.
Quantify the impact of new technologies, industry structure, business trends and regulatory change.
Identify the key structural and strategic factors that will drive growth and opportunity in the LNG and natural gas storage industry to 2020.
Evaluate the economic, industrial and environmental benefits of storage.
The global natural gas storage market will reach $796.4 billion in 2020, up from $562.2 billion in 2015, registering a CAGR of 7.2% for the preiod of 2015-2020.
Underground gas storage (UGS) as a segment will increase at a CAGR of 2.9% over the forecast period to grow from $374.2 billion in 2015to $430.5 billion in 2020.
The liquefied natural gas (LNG) tanker trade segment is expected to reach $120.5 billion in 2015 and $197.0 billion by 2020 increasing at a CAGR of 10.3%.
STUDY GOALS AND OBJECTIVES
The goals of this report on the demand for natural gas storage infrastructure are to:
anticipate gas supply drivers and trends, including technology shifts; evaluate pricing trends for key North American and European wholesale gas markets; assess the impacts of new and proposed infrastructure on liquefied natural gas (LNG) and underground gas storage projects, and determine their effects on the market; quantify the impact of new technologies, industry structure, business trends and regulatory change; identify the key structural and strategic factors that will drive growth and opportunity in the LNG and natural gas storage industry to 2020; and provide details on the various technologies involved in LNG and natural gas storage, including the critical stages of integration, and how they relate to the global natural gas trade and demand pattern.
The objective of this market research report is to provide a balanced and detailed evaluation of the current status of the global natural gas storage infrastructure industry.
More than 98% of all LNG traded worldwide is transported by ship. Driven by increasing global demand and decreasing costs of natural gas, is it any wonder that LNG storage and shipping are being thrown into the limelight? More and more, industry players are realizing that LNG storage and shipping is more than just an integral part of the LNG supply chain. To put it simply, getting storage and shipping right is critical to the natural gas industry.
The consumption of natural gas varies day-to-day and month-to-month. Weather and the varying demands of electric power generation translate into usage fluctuations.
Seasonally the fluctuation is as much as 50%, and short term it can be even more variable. Exact timing, location and volume of peak demand are unpredictable. Since natural gas is not produced in a way that corresponds to these fluctuations, surplus gas is pumped during slumps in usage into numerous storage facilities (underground and LNG) for use during inevitable surges in consumption. In international trade, LNG storage provides the vital link between gas producers and consuming countries. This allows continuous service even when production or pipeline transportation services cannot meet demand.
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