Mar 13, 2020   SOURCE: PR NewsWire

Natural Gas Storage (NGS) Market Insights and Forecast to 2025 - Lucrative Opportunities in Underground Storage Facilities

DUBLIN, March 13, 2020 /PRNewswire/ -- The "Natural Gas Storage Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

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The global natural gas production is expected to grow at a CAGR of more than 3.5% over the period of 2020-2025. The natural gas storage market is moderately fragmented. Some of the key players are John Wood Group, Enbridge, Engie, Gazprom PAO, and Uniper.

Factors such as increasing demand for natural gas in chemical sector, industrial sector, and transportation sector majorly from Asia-Pacific countries is expected to drive the natural gas storage market during the forecast period. Moreover, the advantages for usage of natural gas as a clean-burning, versatile and efficient fuel for variety of purposes along with global efforts for low-carbon economy is likely to increase the demand for natural gas in the future. However, seasonal and volatile nature of demand, coupled with supply and demand imbalance is expected to hinder the growth of natural gas storage market.

Key Highlights

    --  Underground storage (UGS) segment is expected to have the largest share
        in the market, owing to its several advantages over above-ground storage
        and increasing number of facilities due to low operational and
        infrastructural cost, led by North America which has highest share of
        UGS capacity.
    --  The research being done by the United States Department of Energy
        regarding salt formations to be chilled for storing more gas, leading to
        cheaper development cost is creating opportunity for the market being
        studied.
    --  Europe is expected to be the fastest growing market, with increasing
        dependency on natural gas as a fuel and to secure natural gas
        availability irrespective of supply and demand.

Market Trends

Underground Storage to Dominate the Market

    --  Underground storage facilities account for the largest share among gas
        storage facilities, which is further segmented based on type of natural
        gas underground storage into depleted reservoirs, salt formations and
        aquifers.
    --  With natural gas consumption increasing by 5.3% in 2018, natural gas
        storage plays an important role in maintaining the balance between
        supply and demand. Hence, the market is expected to be driven with
        increasing natural gas demand during the forecast period.
    --  In the United States and Europe, depleted oil & gas field account for
        the largest share in the storage facility, and several storage
        facilities are expected to come during the forecast period in Europe.
        Texas is home to numerous depleted oil and gas stores, while in Europe,
        the 43 bcm Severo-Stavropolskoye UGS facility in southern Russia and the
        United Kingdom's offshore 130 bcm Rough field standing out.
    --  Mexico lacks natural gas storage facility and policy for the same is
        expected to be drafted by the end of 2018. Underground storage is most
        favourable option of Mexico. As a result, the underground storage system
        is expected to account for the largest share in the coming years.

Europe to be the Fastest Growing Market

    --  The dependency of European countries on natural gas is increasing, and
        demand for natural gas storage infrastructure is increasing for securing
        the availability, irrespective of season. Ukraine has the largest
        natural gas storage facilities in the region. Germany, France, and Italy
        are also expected to store up to one-third of their annual natural gas
        demand, hence driving the market.
    --  As of 2018, Europe has 113 billion cubic meters of underground storage
        capacity and the total storage capacity represents 21% of the annual gas
        consumption in Europe. In coming years, gas storage is likely to be a
        back-up service for electricity generation, bolstering the market.
    --  Depleted fields account for around 70% of the region's storage facility.
        Several underground gas storage facilities are under construction or
        planned in Italy, Turkey, Germany, the United Kingdom, Bulgaria, and
        others.
    --  In 2019, European Union listed out 32 new gas facilities valued at over
        EUR 60 billion including natural gas storage facilities, for several
        end-users such as commercial and industrial sector.

Key Topics Covered

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Natural Gas Production Forecast, in Billion Cubic Meters, till 2025
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Underground Storage
5.1.2 Above-Ground Storage
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 South America
5.2.5 Middle-East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 China National Petroleum Corporation
6.3.2 Chiyoda Corporation
6.3.3 Costain Group PLC
6.3.4 Enbridge Inc.
6.3.5 Engie S.A.
6.3.6 Gazprom PAO
6.3.7 John Wood Group PLC
6.3.8 Koninklijke Vopak N.V.
6.3.9 NAFTA A.S.
6.3.10 Uniper SE

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/ntbqll

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