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Liquefied Natural Gas- Emerging Evolution and Improvement: Rapidly Playing a Bigger Role in the Energy Mix

Press Release   •   Feb 22, 2017 14:43 IST

Liquefied natural gas (LNG) is a natural gas converted into liquid form for ease of transportation and storage. LNG takes about 1/600th of volume of natural gas. It is colorless, odorless, non-toxic and non-corrosive in nature. LNG market comprises industrial, electric power and other sector applications such as transportation and commercial. Industrial sector is expected to be the most dominating sector in terms of demand for LNG. Industries such as plastics, fertilizers and chemicals use LNG to run different processes. Demand for LNG is high in the electric power sector due to less cost and favorable heat rate. Asia Pacific dominated the global LNG market in terms of volume due to high demand from Japan, South Korea and Taiwan. 

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The report analyzes demand and supply characteristics of the market by providing a detailed forecast and analysis of volume and revenue for the period from 2013 to 2019 anticipated to reach 196.4 million by 2019 with CAGR of 2.8%.