The global market for natural gas storage is expected to flourish at a significant pace, driven by the growing concerns pertaining to the depleting non-renewable energy sources. Occurring deep beneath the surface of the earth, natural gas consists chiefly of methane, and small amounts of non-hydrocarbon gases and hydrocarbon gas liquids. Although natural gas is primarily used as a fuel, it is also widely used in the production of chemicals and materials.
The storage of natural gas is crucial in the maintenance of the reliability of supply, necessary for meeting the needs of the consumers. With natural gas storage facilities playing a vital role in handling seasonal shifts in demand, unexpected upsurges in demand, and storing natural gas for commercial purposes, the demand for natural gas storage facilities is likely to soar. The storage facilities are useful when prices of natural gas are low and also when vendors need to withdraw and sell it when prices rise. Apart from underground storage, natural gas can also be stored in the form of liquefied natural gas (LNG). Storing natural gas as LNG enables easy shipping and storage of natural gas in the liquid form, thereby occupying much lesser space than the gaseous one.
The global market for natural gas storage can be segmented by geography and type of storage. By geography, the global natural gas storage market has been segmented into Europe, North America, Asia Pacific, and the Rest of the World (RoW). The report conducts an in-depth analysis of the leading regional segments such as Germany, China, Argentina, the U.S., Italy, Iran, Russia, France, Ukraine, and Australia. European nations have been exhibiting higher demand for natural gas storage facilities over the last few years. As a result, Europe accounted for the largest share of 50% of the overall market for natural gas storage in 2014. North America emerged as the second-leading segment, with Asia Pacific at its heels.
In terms of future growth, Asia Pacific is the ripest terrain brimming with potential. With augmenting demand for natural gas storage facilities in China, several new natural gas storage facilities are being constructed across the country. Malaysia, Japan, South Korea, Australia, and India have been following suit. The expanding volume of investments in natural gas storage, government encouragement via advantageous incentives, and availability of raw materials in the region are propelling the market for natural gas storage in this region.
By type of storage, the global natural gas storage market has been segmented into underground storage and above-ground storage. The underground storage segment is further segmented into salt caverns, depleted reservoirs, and aquifers. While aquifers are permeable and porous rock formations which serve as natural water reservoirs beneath the ground, salt caverns form out of salt deposits in two forms, salt beds and salt domes. Depleted reservoirs refer to those formations that remain after all recoverable natural gas has been tapped from the site. According to the past findings, the underground storage segment accounted for the greater share of the market when compared with above-ground storage. It held a whopping 95% of the global natural gas storage market in 2014.
Under the underground storage segment, depleted reservoirs accounted for the largest amount of shares, being the most constructed natural gas storage facility. This sub- segment held nearly 75% of the underground storage segment in 2014. Increasing investments in the exploration of new oil and gas fields and swelling demand for natural gas storage facilities have been responsible for the growth of the underground natural gas storage segment.
Growing Seasonal Demand across Industry Verticals Boosts Natural Gas Storage Market
Products in global natural gas storage market are usually used to store natural gas to meet the need for fulfilling the seasonal demand. They are used to store natural gas in periods of low demand and withdrawn usually during the period of high or peak demand. Products in global natural gas storage market can be used by individual professionals or organizations for commercial or operations requirements. Different types of storage units in global natural gas storage market have diverse range of unique properties. Physical characteristics of these units change according to the application and feature qualities such as porosity, low maintenance cost, permeability, and easy access. Rising demand for the natural gas as a great alternative for conventional fossil fuels and growing seasonal demand from diverse set of end-use industries for a variety of different applications in numerous industrial sectors are anticipated to drive the global natural gas storage market in coming years. Technological advancements by players in global natural gas storage market to facilitate easy storage and greater conservation of stored natural gas along with rising awareness amongst population regarding the advantages of using renewable energy sources that includes natural gas are also expected to foster the industry in near future.
Increasing exploration initiatives to discover new oil and gas fields is also another factors bolstering the growth of growing global natural gas storage market in coming years. Some of the most prominent players in global natural gas storage market are Gazprom, Chiyoda Corporation, NAFTA A. S., Enbridge Gas Distribution Inc., Engie S. A., Spectra Energy Corporation, Niska Gas Storage Partners, LLC., Centrica Storage Ltd., TransCanada Corporation, and Cardinal Gas Storage Partners LLC. Players in global natural gas storage market are engaged in mergers and acquisitions, partnerships, and research and development activities to expand their consumer base and target a larger geographical market space. Many manufacturers and players in global natural gas storage market are also increasingly investing for the aim of expanding their production capacity, capabilities of the production facilities, and production volume to enhance their product offerings and reduce the time required for production lifecycle.
Section 1 Preface
Section 2 Executive Summary
Section 3 Industry Analysis
Section 4 Natural Gas Storage: Storage Type Overview
Section 5 Natural Gas Storage Market: Regional Overview
Natural Gas Storage Market – North America
Natural Gas Storage Market – Europe
Natural Gas Storage Market – Asia Pacific
Natural Gas Storage Market – Rest of World
Section 6 Company Profiles
List of Tables
Table 1 Global Natural Gas Storage Market: Snapshot
Table 2 U.S. Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 3 Rest of North America Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 4 Russia Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 5 Ukraine Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 6 Germany Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 7 France Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 8 Italy Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 9 Rest of Europe Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 10 China Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 11 Australia Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 12 Rest of Asia Pacific Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 13 Iran Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 14 Argentina Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 15 Others of Rest of World Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
List of Figures
Figure 1 Global Natural Gas Storage Market Estimates and Forecasts, 2014 – 2023 (mcm)
Figure 2 Global Natural Gas Consumption, By Volume, 2006- 2013 (mcm)
Figure 3 Market Attractiveness Analysis of Natural Gas Storage Market, 2014
Figure 4 Global Natural Gas Storage Market Share, By Storage Type, 2014
Figure 5 Global Natural Gas Storage Market Share, By Storage Type, 2023
Figure 6 Global Natural Gas Storage Market Estimates and Forecasts , By Storage Type, 2014–2023 (mcm)
Figure 7 Global Natural Gas Storage Market Estimates and Forecasts, Above-ground Natural Gas Storage, 2014 – 2023 (mcm)
Figure 8 Global Natural Gas Storage Market Estimates and Forecasts, Underground Natural Gas Storage, 2014 – 2023 (mcm)
Figure 9 Global Natural Gas Storage Market Estimates and Forecasts, Depleted Reservoirs Natural Gas Storage, 2014 – 2023 (mcm)
Figure 10 Global Natural Gas Storage Market Estimates and Forecasts, Salt Caverns Natural Gas Storage, 2014 – 2023 (mcm)
Figure 11 Global Natural Gas Storage Market Estimates and Forecasts, Aquifers Natural Gas Storage, 2014 – 2023 (mcm)
Figure 12 North America Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 13 U.S. Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 14 Rest of North America Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 15 Europe Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 16 Russia Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 17 Ukraine Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 18 Germany Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 19 France Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 20 Italy Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 21 Rest of Europe Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 22 Asia Pacific Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 23 China Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 24 Australia Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 25 Rest of Asia Pacific Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 26 Rest of World Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 27 Iran Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 28 Argentina Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 29 Other Countries Natural Gas Storage Market Estimates and F
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Natural Gas Storage Market
