Liquefied Natural Gas (LNG): Worldwide Markets to 2023 with Profiles on Leading Players Equinor, Gazprom Group, Royal Dutch Shell, Exxon Mobil Corporation, British Petroleum, and Chevron Corporation

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Dublin, July 12, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.

The factors such as rising energy consumption, growing urban population, increasing demand of natural gas vehicles, and increasing preference of LNG in developing economies are expected to drive the market. However, growth of the industry will be challenged by expiration of export contracts, stringent regulations and lack of infrastructure facilities. A few notable trends include evolving LNG export capacity additions, growing demand for LNG bunkering, progressing LNG projects, growing LNG spot market and increasing shift towards modular technology.

Increased demand of LNG by domestic households for cooking and heating purposes was one of the key factors that have supported the LNG demand globally. Additionally, the LNG export volume has been stimulated by increased production of the exiting LNG projects and growing preference for LNG by the population for various commercial and domestic applications.

The largest LNG regional capacity is in Asia-Pacific due to higher production from existing projects in Asia-Pacific countries, such as India, China, and Japan that have a major impact on the growth of the market. China and India are highly established premium markets that contribute to significant shares in the global LNG capacity. Rising approval for liquefaction plants in the U.S. propelled the demand for LNG. The Qatar represents one of the largest markets for LNG and is already a well-penetrated market.

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Related Topics: LNG (Liquefied Natural Gas)

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Globe Newswire: 11:34 GMT Friday 12th July 2019

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