Natural Gas Storage Market Analysis: Key Players, Emerging Technologies & Future Trends | CNPC, Enbridge Inc., ENGIE Group, Gassco

Global Natural Gas Storage Market reached US$ 308.87 billion in 2023 and is expected to reach US$ 401.25 billion by 2031, growing with a CAGR of 3.4% during the forecast period 2024-2031.

Natural Gas Storage Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Natural gas storage refers to the process of storing natural gas in underground facilities, such as depleted oil and gas reservoirs, salt caverns, and aquifers, to manage supply and demand fluctuations. It ensures a stable gas supply during peak usage periods, enhances energy security, and helps stabilize prices. Storage facilities play a crucial role in balancing seasonal demand, particularly for heating in winter and power generation in summer.

List of the Key Players in the Natural Gas Storage Market:

CNPC, Enbridge Inc., ENGIE Group, Gassco, Kinder Morgan, MAN Naftogaz Group, Shell, Snam SPA, TransCanada and PipeLines Limited.

Industry Development:

In March 2024, Enbridge partnered with WhiteWater/I Squared Capital and MPLX LP to develop and operate natural gas pipeline and storage assets linking Permian Basin supply to LNG and U.S. Gulf Coast demand. The joint venture, owned 50.6% by WhiteWater/I Squared, 30.4% by MPLX, and 19% by Enbridge, includes a 50% stake in Waha Gas Storage, a ~2.0 Bcf facility with expanded injection and withdrawal capabilities.

In September 2023, ENGIE acquired Ixora Energy Ltd, a leading UK biomethane producer with three units totaling 160 GWh per year. The acquisition strengthens ENGIE's biomethane market position as it targets 30 TWh of biomethane and renewable hydrogen annually by 2030, aiming for a 100% renewable gas mix by 2050.

Gazprom's Kaliningradskoye Underground Gas Storage (UGS) facility, operational since 2013, currently holds 174 million cubic meters (Mcm) of gas. Connected to the Minsk-Vilnius-Kaunas-Kaliningrad pipeline, its capacity is set to expand to 800 Mcm by 2025.

Growth Forecast Projected:

The Global Natural Gas Storage Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Natural Gas Storage Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Natural Gas Storage Market:

By Storage Type: UnderGround Storage, Above Ground Storage

By Storage Capacity: Small-Scale Storage (Up to 10 Bcf), Medium-Scale Storage (10 to 30 Bcf), Large-Scale Storage (More than 30 Bcf)

By End-User: Residential, Commercial, Industrial

Regional Analysis for Natural Gas Storage Market:

The regional analysis of the Natural Gas Storage Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Natural Gas Storage market?

➠ Who are the leading manufacturers in the global Natural Gas Storage industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Natural Gas Storage industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Natural Gas Storage market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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