LNG business has been growing at a fast pace since the first commercial overseas shipment in September 1964. It accounts for more than 7% of the world’s natural gas demand. Although the Asia Pacific region is the largest LNG market, accounting for more than 68% of global trade, LNG is becoming an important complementary source of gas supply in Continental Europe and the Americas where the market has long been dominated by pipeline gas supplies.
According to our new research report “Global LNG Market Analysis” countries around the world are converting their coal and other fossil fuel based power plants into natural gas thermal plants. Soaring crude oil and coal prices in the international market, coupled with clean power development pressure, are the main forces that have led to this transformation of power plants. As a result, LNG is rapidly becoming the most internationally traded commodity in the world. The global LNG demand is expected to grow to 435 Million Metric Tons by 2030.
The Asia-Pacific region creates the highest LNG demand in the world, with Japan and South Korea being the major importing nations. But this scenario will change in future as China and India are expected to evolve as major LNG markets. The Middle East is fast gaining importance as a major LNG supplier, largely due to its huge potential gas reserves. Qatar is the world's largest exporter of LNG, and the production is anticipated to jump to 77 Million Metric Tons by 2010.
Our report gives an extensive and objective analysis of the global LNG market. It investigates both past and current trends in the global LNG market, and outlines future trends after inclusive study of various factors that play critical role in the development of market. Based on different market indicators, the report evaluates future outlook of the industry and gives valuable information of the LNG market.
We have also included profiling of key players operating in the LNG industry in our report to assist clients in understanding the market dynamics. This section gives overview of players - Royal Dutch Shell Plc., BP Plc., TOTAL S.A., ExxonMobil Corporation, BG Group Plc. and Chevron operating in the global LNG market.
