Natural gas storage technology to reach market worth of US$796.4 billion by 2020

Research and Markets has announced the addition of the "Global Markets and Technologies for Natural Gas Storage" report to their offering. This 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.

This report: assess’ how new technology developed by the industry has greatly reduced the cost of storing and delivering natural gas and LNG to customers; quantifies the impact of new technologies, industry structure, business trends and regulatory change; identifies the key structural and strategic factors that will drive growth and opportunity in the LNG and natural gas storage industry to 2020 and evaluates the economic, industrial and environmental benefits of storage.

Report highlights

The global natural gas storage market will reach US$796.4 billion in 2020, up from US$562.2 billion in 2015, registering a capital annual growth rate (CAGR) of 7.2% for the period 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 US$374.2 billion in 2015 to US$430.5 billion in 2020.

The liquefied natural gas (LNG) tanker trade segment is expected to reach US$120.5 billion in 2015 and US$197.0 billion by 2020 increasing at a CAGR of 10.3%.

You can read the full report here.

Adapted from press release by Francesca Brindle

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/28032016/research-and-markets-release-natural-gas-storage-review-estimate-industry-will-reach-worth-of-796-billion-dollars-2020-2821/