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Leading players - Key players - Foster wheeler (U.K.), Worley Parsons (Australia), Centrica (U.K.), Niska gas storage (U.S.), Samsung Heavy Industries (Korea), E-on (Germany), spectra Energy (U.S.), Chiyoda Corporation , Technip (France)
(PRWEB) October 10, 2014
The report "Natural Gas Storage Market by Type (Underground, Above Ground, and Floating), and by Geography - Global Trends & Forecasts till 2019", defines and segments the Natural Gas Storage Market with analysis and forecasts of the global revenue.
Browse 71 market data tables with 23 figures spread through 173 pages and in-depth TOC on "Natural Gas Storage Market - Global Trends & Forecasts till 2019".
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The natural gas storage underground capacity (working gas) globally is expected to reach 458.2 (bcm) billion cubic meters while above the global ground storage capacity is expected to reach 1,469.6 mtpa (million tons per annum) by 2019. The above ground storage further includes LNG liquefaction and regasification processes whose capacities are expected to reach 704.9mtpa and 764.7mtpa by 2019 respectively.
Rapid increase in offshore exploration and production activities, and increasing demand for efficient energy sources are some of the factors driving market demand for natural gas storage. The market is intended to grow with a rapid increase in government policy approvals to establish natural gas storage facilities. Consequently, the major operators are forced to implement improved and effective gas storage services. However, increased domestic natural gas production and government policies allow market forces to play a major role in guiding capital investments in natural gas storage facilities and accelerate development of new storage capacities. The natural gas storage market is therefore, expected to show sound growth in the coming years.
In terms of working gas capacity, the Americas are the largest region for underground storage facilities, followed by CIS region. By 2019, Americas total working gas capacity is expected to reach 158.6bcm, an expansion of 6.6bcm between 2014 and 2019. The working gas capacity of CIS region was 122.4bcm in the year 2013 and is expected to grow by 10.6bcm by 2019. This boom in the natural gas storage market provides a promising opportunity for gas storage service manufacturers. In terms of above ground storage facilities that include liquefied natural gas (LNG), Americas had the highest liquefaction capacity (184.9mtpa ) in 2013, followed by the Middle Eastern and African regions with a total liquefaction capacity of 112.9 mtpa. Moreover, the global liquefaction capacity is expected to increase by 279.7mtpa between 2014 and 2019, to give a total liquefaction capacity of 704.9mtpa by2019. Whereas, Asia-Pacific holds the largest share in terms of regasification capacity with a total of 306.8mtpa, followed by the Americas and Europe. The global regasification capacity is expected to reach 764.7mtpa by 2019 from an estimated value of 675.6 in 2014.
Currently Americas is the largest market for gas storage systems with largest number of natural gas reserves. This market is growing at a very high growth rate and will maintain its statues until 2019. The rising need for production efficiency in order to maximize oil and gas production is resulting in enlarged gas storage facility demand.
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Strict and stringent safety regulations are being imposed in gas storage activities due to high risk of unusual accidents. Construction and operations of the gas storage facilities are all about risk taking and accepting challenges. One mistake in these operations can result as a massive problem and unrecoverable loss. Damage to environment, damage to human life and huge financial losses are certain results, the world has to bear. Government rules and approvals are becoming stringent in order to make these operations safer. Hence primary governmental approvals are required for a gas storage project that will provide services as a certificate of public convenience and reduces the environmental as well as financial loss. Natural gas storage facility operators are emphasizing more on safety, in order to maximize safety and operational efficiency.
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The report analyzes the global natural gas storage market. The market is segmented on the basis of its types such as, underground natural gas storage and above ground natural gas storage. This report also describes various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, Challenges for overall global market. The report also profiles major companies such as; Foster Wheeler, Worley Parsons, Chiyoda Corporation, Centrica Plc., Samsung Heavy Industries, Technip, Spectra Energy, E-on, GDF SUEZ, Niska Gas Storage. The market by geography includes Asia-Pacific, Europe, Africa, the Middle East, North America, and South America.
The report also includes market share, supply chain and value chain analyses, Porter's five force analysis, and market metrics such as drivers, restraints, Challenges, and opportunities. In addition, it presents a competitive landscape and company profiles of 10 key players in the market that include major companies, which own and operates natural gas storage facility and construct the gas storage projects (manufacturers).
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