Jul 10, 2019 (HTF Market Intelligence via COMTEX) -- Growing energy consumption, increasing demand for natural gas vehicles and the rising urban population will help to boost the global liquid natural gas market in the forecasted time period. Liquefied Natural Gas (LNG) is a liquid form of natural gas, which is composed mainly of methane and other gases such as Propane, Ethane, Butane, and Nitrogen. LNG liquefaction is a process in which Natural Gas is transformed into Liquefied Natural Gas by cooling it in a liquefaction plant which makes it more proficient to transport. It is used in various industries such as construction & dairy products, food processing, manufacturing, furnaces, fluid bed dryers, mining, power generation sector and rotary kilns. Due to low emission rate of carbon, it is also used as alternative fuels in many modes of transports such as rails, trucks ships (ferries), and natural gas vehicles and is also used by domestic users for cooking & heating purposes.
Advance Market Analytics recently introduced Liquid Natural Gas Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2024. Liquid Natural Gas Market explores effective study on varied sections of Industry like opportunities, size, growth, technology, demand and trend of high leading players. It also provides market key statistics on the status of manufacturers, a valuable source of guidance, direction for companies and individuals interested in the industry.
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Major Key Players in This Report Include,
BP (United Kingdom), Shell (Netherlands), Chevron (United States), Exxon Mobil (United States), Total (France), PetroChina (China), Equinor (Norway), Sinopec (China), Gazprom (Russia) and Woodside Petroleum Ltd. (Australia) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Apache Corporation (United States), Kinder Morgan Inc. (United States) and Cheniere Energy Inc. (United States).
Market Leaders and their expansionary development strategies
On 24th June 2019, Air BP and China National Aviation Fuel Group (CNAF) today announced the signing of a joint venture agreement to operate a general aviation fuel business in Southwest China, covering Sichuan Province, Guizhou Province and Chongqing Municipality.
On 1st June 2019, Chevron U.S.A. Inc. a wholly owned subsidiary of Chevron Corporation has completed the acquisition from Petrobras America Inc. of all the outstanding shares and equity interests of Pasadena Refining System, Inc. (PRSI) and PRSI Trading LLC for 350 million dollars excluding working capital.
The market study is being classified by Type, by Application and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
The research methodology used to estimate and forecast the Liquid Natural Gas Market began with capturing data from the key vendors' revenue and market size of the individual segments through secondary sources, industry associations, and trade journals, such as the World Analytics Association and the Cloud Native Computing Foundation. The bottom-up procedure was employed to arrive at the overall market size of the market from the individual segments. After arriving at the overall market size, the total market was split into several segments and sub segments, which were then verified through primary research by conducting extensive interviews with the key industry personnel, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and sub segments.
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