Natural gas industry consists of businesses
such as transmitting, distributing, and sell self-producing or purchasing
associated to fuel gas. The firms in natural gas industry consists of primarily
mines and infrastructure dealing in transportation of gas to end consumers. The
Natural gas industry also consists of firms engaged in buying and selling gas
from the well or mine and selling it to into a distribution system, and there
is one more category of gas brokers or the agents which arrange for gas to be
sold by a distribution system operated by other firms or the agencies
operating. The production activities in natural gas industry includes the coal
gasification, petroleum cracking, and gas extraction, and the natural gas
refinement. The prices of natural gas vary as per the market supply and demand
economics. The other type of natural gas includes shale gas, and it is produced
by extraction from shale formations.
According to study, “Natural
Gas Global Market Report 2019” the key companies operating in
the global natural gas market are BP Plc., ConocoPhillips Co., Exxon Mobil
Corp. Chevron Corp., and Petro China Co. Ltd. B . To utilise the maximum
opportunities the gas providers additionally focus closer to the increase
prospects in the fast-developing segments, while maintaining their positions
within the slow-developing segments.
Based on resource type, natural gas market is
segmented into conventional and unconventional. Based on type, natural gas
market is segmented into packaging transportation gas and pipeline
transportation gas. Moreover, based on application, market is segmented into
commercial use and industrial use.
The natural gas industry is gaining strength
& promotion from consumers and industries that are more conscious of the
environmental apprehensions and desire to use clean fuel thereby reducing
carbon emission and leaving carbon footprint that have made almost all
industries to reconsider and reevaluating their production, budgets and
spending. The pursuit of an environment-friendly society has been the top
priority for most growing and advanced countries, and a few governments have
taken a robust stand and measures to alter the usage and distribution for
business purposes
The crude oil & natural gas extraction
companies have started making large scale investments in renewable sources for
increasing the sustainability of extraction in crude oil & natural gas
activities over different oil fields. The crude oil & natural gas
production is an energy intensive activity and renewable technologies like
solar, wind, biomass, and geothermal are now being used over producing the
crude oil & natural gas at a much lower costs and lower emissions. The
natural gas market is registering a rapid rise in production activities, owing
to the technological innovations. Further, the use of Marine vessels in the market
are leading to unprecedented increase in production, as these make significant
efforts with efficient movement of fuel. Some of key end user segments
residential, commercial, and industrial sectors further emerged as an important
consumers of the natural gas liquids. The domestic use of fuel have helped in
majorly driving significant sale across the global market.
The natural gas market is segmented into North
America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle
East and Africa. Among these Asia-pacific natural gas market account for the
significant share in the natural gas market.
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