Energy & Environment

Industry leaders: LNG market is to grow 5% annually

LNG is rapidly playing a bigger role in the energy sector, and the market for it is expected to grow at around 5% annually. Global demand could increase from about 240 million tonnes per annum (mtpa) to around 430 mtpa in 2025.
Speakers of the LNG US Summit in Houston, Texas
( | Press Release | 2017-01-20 18:16:21 )
First attempts to liquefy natural gas for commercial purposes date back to the beginning of the 20th century. At first, technologies took a lot of time to develop and improve, but eventually the result was success - LNG was produced for the first time. As it took some time to develop the technology, it took time to reach commercial scale as well - this was done only in the mid-1960s.

As we entered the new century, innovation and development in many areas took place. It was only then that LNG became global. Slowly it came to Europe, Asia and other areas. Every improvement and development in technology requires time and monetary costs and LNG was no exception. Now, when we have well-developed facilities for treatment, refrigeration, liquefaction, storage and transportation, LNG is going viral.

Since LNG is a substitute to intermediate fuel oil, gasoil and diesel in transport, the market is expected to grow rapidly and the possibilities are wide as the horizon. The first ones to take action are those in areas that have emission control - they took a step forward and started to develop the LNG market.

In other areas LNG is also used and the tendency to use it as a marine fuel is spreading globally. At this moment, it is predicted that the Chinese will have the most influence in global LNG market growth.
Undoubtedly, the best outcome is to come for those industry players that are involved at every stage of the LNG value chain. They find the fields, extract gas, liquefy and ship it, then return the LNG back to gas and distribute to end users.

On the whole, the LNG market is about to expand. This leads to development of new technologies and innovations. Wisdom Events - a team of skilled market analysts and professional event organizers - is hosting a LNG orientated business platform. It will take place in Texas, Houston, on the 23-24th of February, 2017. The LNG US Summit will host global leaders under one roof. They are bound to discuss new EPC Projects, LNG Infrastructure Development and other important topics. Are you going to be among them?

Join us in the LNG US Summit on the 23-24th of February, 2017. We are meeting in Houston to share experience and insights on the LNG market growth.

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Vejuna Aria Guzulaityte


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