London, 09 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global LNG Market 2014-2018, which is expected to grow at a CAGR of 5.6 percent during the forecast period of 2013-2018.
LNG is a type of hydrocarbon, mainly methane that has been converted to liquid form for ease of storage or transport. It is non-toxic, odorless, non-corrosive, and colorless. It becomes flammable after vaporization into a gaseous state and can also cause unconsciousness. LNG achieves a higher reduction in volume that makes it cost efficient to transport over long distances, where pipelines do not exist. It has a relatively high cost of production and has to be stored in expensive cryogenic tanks. It is a clean, low carbon, and efficient source of energy for various end-user segments.
“Many governments worldwide procure LNG to ensure stable energy supply in their country and to reduce dependency on other conventional fuels. …,” says Faisal Ghaus, Vice President of TechNavio.
“The demand for LNG has increased around the globe because of the steady growth in population, economic growth in various countries, and rapid industrialization and urbanization.”
Key Market Drivers
- Increased Energy Demand
- Environmental Policies
- Limited Domestic Gas Production
- Growing Need for Energy Security
Key Market Trends
- Increase in LNG Exports
- FLNG
- LNG for Transportation & Power Generation
Key Market Vendors
- Chubu Electric
- Enagas
- KOGAS
- Sonatrach
- TEPCO
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
