Global Liquefied Natural Gas Industry Market Research 2017

The Liquefied Natural Gas Industry Market produces liquefied natural gas which is a natural gas. It is converted into liquid form for easy transportation and storage. Natural gas liquefaction takes about 1/600^th volume of natural gas. It is colorless, odorless, non-corrosive and nontoxic in nature.

Liquefaction is carried out by cooling the natural gas to -1620(-2620 F) and removing certain components like acid gases, impurities, and dust in the Liquefied Natural Gas Industry Market. LNG is then stored in a cylindrical shaped and domed roof cryogenic tanks. This prevents the liquefied natural gas from vaporization. The cryogenic tanks are made from materials like, concrete, steel, and nickel. The tanks are insulated and are kept at a low pressure. Big underground tanks are also used for storage.

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Scope & Regional Forecast of the Liquefied Natural Gas Industry Market

The end users in the Liquefied Natural Gas Industry Market consist of industrial, electric power, and other sectors like transportation and commercial. The industrial sector is expected to dominate the market due to the high demand for LNG liquefied natural gas. Industries like chemicals, fertilizers, and steel use high quantities of liquefied natural gas as operational fuel. Conversion to liquefied natural gas from conventional fuels helps the industries to save the capital. Equipment like drilling equipment, industrial boilers and mining equipment use large quantities of LNG as it offers no low cost with no emission.

The Liquefied Natural Gas Industry Market has a higher share in the electric power segment due less cost of LNG and its favorable heat rate. LNG based electric power plants efficiently support high load during the peak hour. Liquefied Natural Gas is used in the small scale power plants that are designed for in house power generation. These plants can support the load up to 100 MW. Industries which are in the remote areas can operate easily by installing captive power plants using LNG liquefied natural gas as a fuel.

Asia Pacific dominates the Liquefied Natural Gas Industry Market due to the high demand from Japan, South Korea, and Taiwan. Developing countries like India and China import LNG as domestic gas production is not sufficient to meet the needs of these countries. Europe is expected to have a large market for LNG since countries like Spain, UK, and France import high quantities of LNG.

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Segmentations & Key Players Involved in the Liquefied Industrial Gas Industry Market

The Liquefied Industrial Gas Industry Market can be broken down into various segmentations on the basis of –

• Product- Dry Natural Gas, Wet Natural Gas.
• Application- Industrial fuel, Domestic fuel, Chemical materials, Seawater Desalination.
• Regions- North America, Europe, China, Japan, Southeast Asia, and India.

Some of the key players involved in the Liquefied Natural Gas Industry Market are as follows:

• Apache Corporation
• BG Group Plc
• Cheniere Energy Inc
• ConocoPhillips
• Dominion Resources Inc

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