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Additional Information
Market Insights: A Selection From The Report
The development of LNG supply chain technologies has recently enabled natural gas trading across more geographically dispersed regions as it is now possible to liquefy, ship and regasify natural gas. It is generally more cost efficient to process and ship LNG than it is to pipe natural gas across distances of greater than 2000 miles.
Europe
Although natural gas demand in OECD Europe is growing at a low rate, Europe’s dependence on imported natural gas continues to increase as local natural gas production declines. The region’s dependence on imported natural gas is expected to increase from 44% in 2006 to 48% in 2015 and to over 57% in 2030. Pipeline supplies of over 190 billion cubic meters per annum from Russia and Algeria account for more than 30 percent of the region’s total consumption. Additionally, LNG imports of over 55 billion cubic meters, mostly from supplying nations in Africa and the Middle East, are also used to supplement consumption. European reliance on LNG is expected further expected to increase as recurring problems with Russian supplies, its largest source of pipeline natural gas, persist.
Population Growth
Global population growth is a significant driver of the demand for energy as increases in population translates to greater demand for electricity, transportation and related goods and services. Over the past five years, global population has grown 6% from 6.5 billion to 6.9 billion. Global population is expected to reach nearly 7.3 billion in 2015, increasing at a rate of 1.1% per year for the next five years.
Recovering Nations Increasingly Count on Liquefied Natural Gas as Critical Fuel in Production of Power and Heat
New York, May 26, 2010 - Liquefied natural gas has assumed an increasingly significant role in the energy security of several nations around the world, and the value of internationally traded liquefied natural gas that can be efficiently stored and transported by ships is expected to grow by an average of 17% per year from $73 billion in 2009 to over $180 billion in 2015 supported by strong volume growth and higher prices, according to Liquefied Natural Gas Market Worldwide by leading industrial market research firm SBI Energy.
Natural gas currently accounts for 20% of the world’s marketed energy, which makes it a critical fuel in the generation of electric power and heat. It is the second most frequently utilized fuel for the generation of electricity in the United States and third in the world.
Over the past year, global recessionary conditions have moderated demand for energy as consumer demand for goods and services and related manufacturing has slowed. However, as most nations make a much anticipated recovery over the next 12 to 18 months, energy consumption will continue to rise rapidly driven significantly by demand from economically developing nations. SBI Energy predicts global energy consumption will increase by 19% from 462 quadrillion British thermal units (Btu) in 2005 to over 551 quadrillion Btu in 2015.
“As an efficient and economical means of transporting natural gas, the need for the liquefied variety is driven by natural gas demand in various parts of the world that do not have adequate domestic or pipeline supplies of this fuel,” says Shannon Shuflat, SBI Energy analyst and co-author of the report.
Population growth and economic growth are key factors driving increased demand for energy over the next five years. As population increases, the requirement for institutional services including infrastructure, government and healthcare along with potential demands for various commercial services also increases. In a dynamic twist on the classic domino effect, these increases will lead to more industrial activity such as manufacturing, mining and construction, transportation and the requirement for and ability to afford increased commercial and retail services, larger homes and more energy using appliances and equipment, all of which leads to rising energy requirements. Economic prosperity dictates the degree to which these requirements and potential demands are met.
Liquefied Natural Gas Market Worldwide includes a broad review of the global market for liquefied natural gas. Key technologies leveraged within the liquefied natural gas supply chain, including liquefaction, shipping and regasification technologies are discussed. An overview of the liquefied natural gas market structure, mechanisms and key participants is also provided. Additionally, recent investments in liquefied natural gas liquefaction capacity, shipping capacity, and regasification capacity across regions and major participating nations are discussed.
About SBI Energy
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services.