Liquefied Natural Gas (LNG) Market Size, Share to amass around US $19.73 billion by 2026 – Industry Growth – About Your Online Magazine

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February 23, 2021 (Market perception reports) –
Selbyville, Delaware. The Size and Analysis of the Liquefied Natural Gas (LNG) Market maintains an enhanced dynamic and is overshadowed by one of the world’s leading players. The research report provides market growth for liquefied natural gas (LNG) and information corresponding to market segments, such as geographies, product type, application and end-use industry. Experts use the latest liquefied natural gas (LNG) market research techniques and tools to gather accurate and comprehensive market research reports. A detailed outline of the size and market share of Liquefied Natural Gas (LNG) has been combined in this report, which provides a comprehensive analysis of different business verticals.

The global market for Liquefied Natural Gas (LNG) is expected to reach US $ 19.73 billion by 2026, according to a new study published by The market research report.

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Global demand for natural gas increased significantly and experienced a premium annual growth of 1.6% between 2015 and 2040. Natural gas consumption increased from more than 3.5 tscm in 2014 to almost 5.2 tscm in 2040. The Model Mundial de Gás programmed its production depends on the lowest cost, accounting for transport to the market through LNG or gas pipeline, as well as the cost of production that is subject to contractual obligations. Global LNG capacity increased by 50% from 2015 to 2020, with several new projects currently under construction and ready to enter service, influencing the Liquefied Natural Gas (LNG) market. In addition, another wave of upcoming LNG projects is planned between 2024 to 2030 and the third part from 2035 onwards.

The US has been a significant player in increasing demand for this product, with plans to host six projects by 2020. Canada is also expected to launch three liquefaction installation projects, all of them on the Pacific coast, two after 2020 and one in 2035 Africa is also expected to play an important role in increasing LNG demand, directly increasing the Liquefied Natural Gas (LNG) market. New liquefaction capacities are planned to be established in Cameroon, Angola, Mozambique, Equatorial Guinea and Tanzania by 2025. An offline capacity is projected to re-enter services in 2023.

The power generation industry has been one of the main demands creating sectors in the recent past, with several technological developments for the use of LNG as a fuel. It is a direct alternative to diesel for the power generation industry. Replacing the supply of diesel oil with liquefied natural gas is safe, economical and an absolutely clean option. Customers convert existing units to dual fuel or replace existing diesel generators with a gas generator.

The industrial and mining markets have been another potential application sector in the Liquefied Natural Gas (LNG) market. It is used as the main energy source in many power generation stations worldwide, in fluid bed dryers, boilers, ovens and rotary kilns. Another is the transport sector, including heavy vehicles, ships and even railways. All of these types of locomotive media are great sources of LNG applications. In addition, it is safe for transportation, as it is not explosive in liquid and cannot burn. To ensure the safety and security of all LNG facilities, safety requirements and industry standards, along with best practices, are designed to mitigate the worst. Liquefied Natural Gas offers the perfect opportunity for maximum economic transportation and storage of natural gas.

As the volume of LNG is 600 times smaller than the state of natural gas, it can be transported more efficiently over long distances. Therefore, with these advantages, the product application segments have increased significantly and it is estimated that the growth of the Liquefied Natural Gas (LNG) market will continue during the forecast period.

The Asia-Pacific market is the market for liquefied natural gas (LNG) with the greatest potential, currently with increasing demand for energy. Although the region is a large consumer market for natural gas, it lacks a price benchmark for transparent and liquid LNG such as Henry Hub in the USA or the National Balancing Point in the United Kingdom. Several projects are underway that will facilitate price discovery in the Asian market. China, Singapore and Japan are currently the region’s developing commercial centers and have also launched LNG price indices to increase transparency in pricing.

Some of the major industry players in the liquefied natural gas (LNG) market include Gazprom, ExxonMobil, China National Petroleum Corporation, Royal Dutch Shell, BP, Chevron, Total, Statoil, ConocoPhillips, Eni, Freeport Liquefaction LLC, INPEX, Kitsault Energy, Next Decade, NIOC, Novatek, Petronas, Rosneft, Sempra Energy, Steelhead LNG, Stewart Energy, Veresen, Woodfibre LNG and Woodside.

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Paula Fonseca