NEW YORK, May 9, 2016 /PRNewswire/ -- Automation Market Opportunities in the Global Liquefied Natural Gas (LNG) Industry : Rapid Growth of Unconventional Gas Supplies Provide a Mixed Bag of Opportunities Across the LNG Value Chain
-The emerging needs of new liquefaction projects in North America and Australia and regasification terminals in Asia provide project opportunities that need to be addressed with a converged Information Technology
- Operational Technology (IT-OT) solution rather than a traditional automation solution engagement model. This Frost & Sullivan research service on the automation market opportunities in the global LNG industry provides the landscape of the LNG market, planned and proposed LNG projects, changing customer buying behavior and the evolutionary business model for automation companies to grab emerging opportunities.
- In a highly volatile Oil and Gas (O&G) industry environment, the Liquefied Natural Gas (LNG) market has progressed a great deal. New operational and information technologies have played a big role in reducing cost and improving the efficiency in the value chain.
- On the demand side, most of the LNG consumption originates in the Asia-Pacific region, with Japan consuming about % of the world's total LNG supply, followed by China and India.
- On the supply side, so far, Qatar has been in control of the world's LNG supply market; however, technological advancements in hydraulic fracturing have resulted in significant gas production from shale gas reserves in the US.
- At this juncture, there is a significant investment in new projects in North America and Australasia that total around % of liquefaction capacity in the next 7 years.
- As the O&G industry is on the verge of Information Technology / Operational Technology (IT/OT) convergence and increased traction toward Industrial Internet of Things (IIoT), many global O&G customers are reviewing their buying strategies for automation solutions, resulting in increased value for their purchase.
- The successful Main Automation Contractor (MAC) model in the O&G sector can be extended to include information management as well, leading to the integrated Main Automation and Information Contractor (MAIC) concept that creates a significant opportunity over the entire lifecycle for upcoming green-field projects in the LNG industry.
Read the full report: http://www.reportlinker.com/p03820133-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/automation-market-opportunities-in-the-global-liquefied-natural-gas-lng-industry-300265489.html