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Global natural gas storage market: Volume of 720 million cubic feet expected by 2017

Press Release   •   Aug 22, 2013 17:21 BST

The global natural gas storage market is suggested to have reached a volume of around 657 million cubic feet by the end of 2012. It is forecast that by 2017 the industry will have reached a volume of 720 million cubic feet, suggesting a CAGR growth rate of around 1.9% between 2012 and 2017.

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.

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

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