Natural gas is one of the most widely used fuel in the world. The year 2017 witnessed a significant increase in the production of natural gas worldwide. Globally, the production of natural gas increased by over 130 billion cubic meters (bcm) in 2017, or four percent - nearly double of the ten-year average growth rate. In fact, this was the fastest growth the industry witnessed ever since the financial crisis of 2008-2009. Russia witnessed the largest growth, standing at 46 bcm or over eight percent. Iran followed with 21 bcm. Australia was at 17 bcm, followed by China at 11 bcm.
The recent years have seen the natural gas markets undergo several transformations. With China entering the global natural gas scene, and the United States emerging as a big player in the global LNG market, the industry is poised to undergo major growth in the coming years as natural gas demand rises as never before. The next five years is expected to see the global demand for natural gas increase by at least 1.6 percent. This increase is expected to be led by emerging Asian markets, with China itself accounting for almost one-third of the global demand for natural gas by the year 2022.
Major players in the market are BP Plc, Gazprom, National Iranian Oil Company, ExxonMobil Corporation, amongst others. As natural gas is essentially irreplaceable (at least with current technology), it is important to have an idea of how much natural gas is left in the ground for us to use. However, this becomes complicated by the fact that no one really knows exactly how much natural gas exists until it is extracted.
Aruvian Research’s focus on the Global Natural Gas Industry 2018 explores this niche market globally and focuses on the happenings of this industry. Analyzing the global trends, the growth drivers, the strengths and weaknesses of this industry, industry statistics and forecast, trends in natural gas transportation and storage, import/export situation, etc. The report covers the complete developments in the natural gas industry as they are taking place worldwide.