Market Snapshot:
Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state (liquefied), at about -260° Fahrenheit, for shipping and storage. The volume of natural gas in its liquid state is about 600 times smaller than its volume in its gaseous state in a natural gas pipeline. This liquefaction process, developed in the 19th century, makes it possible to transport natural gas to places natural gas pipelines do not reach and to use natural gas as a transportation fuel. Where natural gas pipelines are not feasible or do not exist, liquefying natural gas is a way to move natural gas from producing regions to markets, such as to and from the United States and other countries. Asian countries combined account for the largest share of global LNG imports.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2021-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | BP (United Kingdom), Shell (Netherlands), Chevron (United States), Exxon Mobil (United States), Total (France), PetroChina (China), Equinor (Norway), Sinopec (China), Gazprom (Russia) and Woodside Petroleum Ltd. (Australia) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Market Drivers
- Preference For Liquid Natural Gas (LNG) In Developing Economies
- Adoption Of Natural Gas Vehicles Due To Fluctuating Oil Prices
- Rising Energy Consumption With Growing World Population
Market Trend
- Increasing Shift towards Modular Technology
Restraints
- Government Initiatives And Progressing LNG Projects
- Use of LNG in Maritime
The Liquid Natural Gas (LNG) market framework should serve as a basic structure to support the strategic decision-making process for Manufacturers. For instance, the question of whether a Manufacturers wants to expand in other areas of the market value chain would fundamentally determines its strategy.
1. What is the current setup of the Liquid Natural Gas (LNG) Industry, and what is its growth trajectory through 2027?
2. Trends that might impact the resulting strategic moves of the Manufacturers
3. How can Manufacturers take advantage of the changing market dynamics and capture new opportunities lying in Liquid Natural Gas (LNG) market?
The key Manufacturers profiled in the report are BP (United Kingdom), Shell (Netherlands), Chevron (United States), Exxon Mobil (United States), Total (France), PetroChina (China), Equinor (Norway), Sinopec (China), Gazprom (Russia) and Woodside Petroleum Ltd. (Australia). Additionally, other players that are part of this comprehensive study are Apache Corporation (United States), Kinder Morgan Inc. (United States) and Cheniere Energy Inc. (United States).
Frequently Asked Questions (FAQ):
1. What is the growth rate predicted for the Global Liquid Natural Gas (LNG) Market?The Liquid Natural Gas (LNG) market is expected to see a CAGR of
% during projected year 2021 to 2027.
2. Who are the top performing companies in Liquid Natural Gas (LNG) Market?
Top performing companies in the Global Liquid Natural Gas (LNG) market are BP (United Kingdom), Shell (Netherlands), Chevron (United States), Exxon Mobil (United States), Total (France), PetroChina (China), Equinor (Norway), Sinopec (China), Gazprom (Russia) and Woodside Petroleum Ltd. (Australia), to name a few.