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NEW YORK, July 18, 2022 /PRNewswire/ — LNG infrastructure includes import terminals, tankers, and inland storage plants. The physical infrastructure comprises interconnected storage and transportation facilities. Furthermore, LNG infrastructure requires pipelines to transport natural gas, a plant for electrical generation, water for the electrical generation plant, and the electrical grid for power distribution.
The LNG infrastructure market size in US is expected to grow by USD 1.12bn from 2021 to 2026, as per Technavio’s market analysis report. This growth is driven by factors such as an increase in LNG production. Natural gas is one of the fastest-growing fossil fuels in the US, owing to the rise in the supply of coalbed methane, shale gas, and tight gas. As per the IEA, by 2022, the US will produce 890 bcm or 22% of global natural gas production. Though the domestic demand in the US and the production of natural gas are expected to grow, more than half of the additional natural gas produced will be converted into LNG. It will be further exported to countries where domestic natural gas production is insufficient. Hence, the rise in natural gas production has led to an increase in LNG marketing.
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Read the report with TOC on “LNG Infrastructure Market in US Analysis Report by End-user (Power generation, Transportation fuel, and Others) and Type (Liquefaction Terminal and Regasification Terminal), and the Segment Forecasts, 2022-2026”. View our Report Snapshot
- Bechtel Corp.
- Cheniere Energy Inc.
- Chevron Corp.
- Chiyoda Corp.
- Exxon Mobil Corp.
- Fluor Corp.
- McDermott International Inc.
- NextDecade Corp.
- Sempra Energy
- TotalEnergies SE
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- Bechtel Corp. – The company offers products such as LNG plants.
- Cheniere Energy Inc. – The company offers products such as liquefaction facilities.
- Chevron Corp. – The company offers products such as LNG facilities.
- Chiyoda Corp. – The company offers products such as floating LNG power vessel.
- Exxon Mobil Corp. – The company offers products such as LNG infrastructure.
- Power generation – size and forecast 2021-2026
- Transportation fuel – size and forecast 2021-2026
- Others – size and forecast 2021-2026
- Liquefaction terminal – size and forecast 2021-2026
- Regasification terminal – size and forecast 2021-2026
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The power generation segment will have significant market share growth during the forecast period. Natural gas, which includes LNG, is expected to play a major role in decarbonization and lowering the impact of emissions in the power generation sector. Depending on the demand, different types of natural gas have a low carbon content and offer provide in power generation capacity. The US is adopting natural gas for power generation, with a growing focus on improving air quality. Thus, the rising demand for LNG in several power applications will drive …
Full story available on Benzinga.com
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