Why the Natural Gas Market is set to explode? Top Companies: Royal Dutch Shell Plc, Gazprom, Chevron, EOG Resources, Exxon Mobil Corporation, Chesapeake Energy, AnadarkoPetroleum, China National Petroleum Corporation, Conoco Philips, Total S.A., SM Energy

The global natural gas market is likely to gain impetus from a rise in the demand for light-duty vehicles. According to a report by Fortune Business Insights, titled, “Natural Gas Market Size, Share and Global Trend by Type (Ethane, Propane, Methane, Others), by Source (Conventional Gas, Unconventional Gas), by Application (Automotive, Power Generation, Household, Industrial Fuel), and Geography Forecast till 2026,” natural gas burns cleaner than petroleum or coal. This in turn, reduces the emission of carbon dioxide in the atmosphere.

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Hence, it has led to a huge demand for natural gas which is one of the major factors that is likely to contribute to the growth of the global natural gas market. Moreover, the governments of several countries are encouraging the populace to make more usage of natural gas and reduce the consumption of carbon-intensive liquid and coal fuels.

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The report classifies the global natural gas market on the bases of type, source, application, and geography. In terms of type, the market is segmented into propane, methane, ethane, and others. By source, the market is divided into conventional gas and unconventional gas. By source, the market is grouped into automotive, household, power generation, and industrial fuel. Amongst these, natural gas is one of the key fuels that is used persistently in power generation and industrial sectors.

Rapid Urbanization and Increasing Demand for Energy to Favor Growth in Asia Pacific
The global natural gas market is geographically divided into Asia Pacific, Europe, the Middle East and Africa, North America, and Latin America. Amongst these regions, the U.S. in North America is the largest producer and consumer of natural gas. In North America, natural gas is used widely in residential, commercial, and industrial application as well as in the field of electric power generation. Mexico in Latin America is the highest consumer of natural gas. In Europe, on the other hand, Russia is the largest producer of natural gas. The country also exports natural gas to other countries. India and China are the major consumers of natural gas in Asia Pacific. This is because of a rise in urbanization and an increasing demand for energy. The region is projected to grow during the forecast period.

Countries and Energy Companies Focus on Strategic Transactions to Strengthen Position in Market
Saudi Arabia announced in January 2019 that it will venture into the U.S. natural gas as liquefied natural gas investment. This venture will aid Saudi Arabia in competing with Qatar as Qatar is planning to invest more than $20 billion. NRG Energy, a nuclear electric power generation company, based in the U.S., announced in May 2019, that it has purchased Dallas-based Stream Energy’s retail electricity and natural gas business for $300M. Stream Energy provides more than 600,000 residential customer equivalents in Washington, DC and nine other states. The transaction is projected to strengthen NRG Energy’s position in the market and it will also increase the company’s market share in Pennsylvania, Texas, and the other markets in the U.S. In February 2019, Exxon Mobil Corporation, a multinational oil and gas corporation, headquartered in the U.S. and Qatar Petroleum announced their plan to finance a $10 billion-plus project to export natural gas from Texas. Qatar Petroleum also said that its main aim is to focus on the expansion of natural gas business of the country. Both the companies have worked together previously in Brazil, Mozambique, and Argentina.

Top Players
• Royal Dutch Shell Plc
• Gazprom
• Chevron
• EOG Resources
• Exxon Mobil Corporation
• Chesapeake Energy
• Anadarko Petroleum
• China National Petroleum Corporation
• Conoco Philips
• Total S.A.
• SM Energy Company
• EQT
• Cimarex Energy
• Hess Corp
• BP Plc
• Eni S.p.A.
• Encana
• Exco Resources
• Statoil ASA

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This release was published on openPR.