- The key vendors in the Global Gas to Liquid Market are Chevron Nigeria Ltd., Qatar Petroleum, Royal Dutch Shell plc, Sasol Ltd. and Statoil ASA
London, 12 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Gas to Liquid Market 2014-2018. The overall market is expected to grow at a CAGR of 7.8 percent during the forecast period of 2013-2018. Increased investment in GTL has been one of the major trends being observed in the Global GTL market in recent years. Many market vendors are investing in different equipment, processes, and technology to enhance the quality of production and reduce the cost of production.
GTL is a refinery process of converting natural gas into long chain hydrocarbon products such as diesel and gasoline. Natural gases are converted into liquid fuels either via direct conversion or by using syngas as an intermediate. GTL technology enables vendors to convert natural gas or gaseous hydrocarbon to liquid fuels that can be easily transported from the production site to the demand location or those with scarce resources, thus reducing the demand-supply gap for liquid fuels.
“GTL products are comparatively better for the environment than traditional refinery products, which gives them a significant edge in the market not least because they can comply with stringent environmental norms,” says Faisal Ghaus, Vice President of TechNavio Research.
“The use of techniques such as blending zero sulfur with crude-based product will significantly increase market growth.”
To define the market conditions 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.
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