Wellesley, MA (PRWEB) August 24, 2013
According to a new technical market research report, GLOBAL MARKETS AND TECHNOLOGIES FOR NATURAL GAS STORAGE (Report code: EGY045B) from BCC Research (http://www.bccresearch.com), the global market for natural gas storage reached 657 million cubic feet in 2012. BCC Research expects the market to reach 720 million cubic feet by 2017, and register a compound annual growth rate (CAGR) of 1.9%.
Much as the telephone and the Internet revolutionized communication in the twentieth century, the same can be expected from the energy industry of the twenty-first century as new sources such as natural gas, solar power, wind power, and tidal energy continue to evolve and replace coal and oil. According to BCC Research, as the supplies and consumption of natural gas rise globally, increased storage capacity will become both necessary and expansive. Demand will come not only from traditional markets, but also from new markets, which will result in increased variability in demand levels. This in turn will pave the way for increased demand with respect to storage capacity
The ability of storage to actually increase the value of natural gas holds significant promise. Storage is a key element in the industry and without adequate safe and convenient storage the entire industry would be unmanageable and for all practical purposes impossible to operate. What is clear is that in the future without a storage capability it would be virtually impossible to maintain reliability of supply to the various classes of gas consumers.
This study is a function of the underlying investment opportunities that are inherent in the development of the natural gas industry. Although the future market for gas storage is reliant upon the quantity of gas used in numerous applications, the safe and secure storage of the product remains of key importance to everyone involved in any of these markets or potential markets. There is also a major question of government regulation in both the transportation of gas and its storage, given the danger of mishandling or leakage during transit. This implies government interest in both its handling and storage and the development of regulations to minimize the risks inherent in handling volatile and explosive fuels.
This report examines the two types of natural gas storage, including conventional storage of gas in a gaseous form, and storage of natural gas after it has been reduced to a liquid through the application of compression and cryogenic technology. It is this latter type of technology that has revolutionized the entire structure of the industry and permitted the economic shipment of gas from its often-remote points of production to markets where it can be used in a vast variety of ways.
The study also attempts to provide an insight into the companies that provide or utilize gas storage and also those companies that provide the construction expertise and hardware required to handle and store the product. The construction of gas storage facilities can vary from a simple metal tank in a residential backyard to vast construction projects involving hundreds of millions or even billions of dollars.
This report is intended for business planners directly involved in the energy market and for those businesses that involve the consumption of natural gas in almost any form either as a raw material or as a direct or indirect energy source. The analysis presented in this report will also prove valuable resource for acquisition specialists, product managers, investors, investment consultants, market researchers, transportation specialists, business analysts, commodity and securities traders, business planners, and anyone interested in the energy markets.