Gas to Liquids (GTL) Market - Global Industry Analysis 2020

The rapid industrial development has led to the increased demand for the conventional sources of energy. However, the limited presence of these sources put an extra burden on the demand supply gap. As the population continues to grow, the conventional sources of energy must be used more efficiently, and alternative sources are needed to close the demand and supply gap. Gas to liquids (GTL) technology converts the methane rich gases into more economical and cleaner synthetic fuels. The increase in energy consumption coupled with the environmental regulations related to the clean fuel development, can have a direct impact on global gas to liquids (GTL) market. For the past few years, many big companies have started to develop the synthetic fuels, based on gas to liquids (GTL) technology. According to World Bank, around 150 billion cubic meters of natural gas is flared ever year, which can be converted into useful synthetic fuels using gas to liquids (GTL) technologies.

The segmentation of the gas to liquids (GTL) market can be done on the basis of size, production process, applications and the location of major gas to liquids (GTL) plants. On the basis of size, the gas to liquids (GTL) plant is classified as: small scale and large gas to liquids (GTL) plant. The gas to liquids (GTL) generation can be achieved in three ways: the Fischer-Tropsch process, Methanol to Gasoline (MTG) process and Syngas to gasoline plus process. The Fischer-Tropsch process includes the partial oxidation of natural gas, hydrogen gas and carbon dioxide, followed by the cracking process. In the Methanol to Gasoline (MTG) process, methane is first converted to methanol using a sequence of three chemical reactions: steam reforming, water shift reaction and synthesis reaction.

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The methanol so produced is converted into gasoline by using Mobil process. The syngas to gasoline plus process consists of four steps: Methanol synthesis, Dimethyl ether synthesis, and gasoline synthesis and treatment. By using the gas to liquids (GTL) process, the refineries can easily convert their flare gas into more useful fuel oils. These fuel oils can be sold as it is or can be blended with gasoline. Gas to liquids (GTL) process can also be used for the extraction of natural gas deposits in the areas where it is difficult to build a pipeline. The major products of gas to liquids (GTL) technology are: diesel, naphtha, LPG, base oil, ethane and paraffin.

The regional segmentation of gas to liquids (GTL) market includes: identification of the major gas to liquids (GTL) plants. Currently, only few gas to liquids (GTL) plants are present globally; however, many small and large scale projects related with the development of gas to liquids (GTL) facilities are still in the development phase. The major gas to liquids (GTL) plant is located in Qatar, Mozambique, Nigeria and South Africa in Middle East and African region whereas in the Asia Pacific region, Malaysia is actively involved in the gas to liquids (GTL) market.

Rapid energy consumption, government policies supporting the development of clean fuel, and the conversion of waste flare gas into useful product serve as the major drivers for the current gas to liquids (GTL) market. The large sized slurry based and fixed reactors coupled with the high expenditure requirement in the development of large scale gas to liquids (GTL) plants are the main restraints to the gas to liquids (GTL) market. Further, the rise in natural gas consumption, especially in countries such as China, Japan and India alongwith the development of smaller sized micro-channel reactors as compared to the conventional reactors, can act as the opportunities for gas to liquids (GTL) market.

Some of the major players in the gas to liquids (GTL) market include companies such as Sasol limited, Royal Dutch Shell, Chevron Corporation, Primus Green Energy, Compact GTL, Linc Energy and others.

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