China’s growing economy, government intervention and increasing population are the major driving forces behind fast growing LNG demand, says RNCOS.
Noida, UP -- (SBWIRE) -- 10/15/2014 -- Asia Pacific region has been dominating the LNG demand in the global LNG market with China exhibiting highest growth among the member nation in lieu of rapid urbanization in the country and government policies and regulation. Chinese government is also enhancing natural gas usage by developing infrastructure in the country. As per our report, “Asia Pacific LNG Market Outlook 2020”, the share of natural gas in China’s energy mix was 4% in 2012, and the government has set the target to increase it further in the coming years. The government has been carefully considering setting a price level in order to develop the natural gas market in China and particularly promote natural gas use as a substitute for coal and oil.
Consequently, China’s cheaper domestic prices for natural gas are also adding to its strong position in the Asia Pacific LNG market.
According to our report, China’s natural gas demand is escalating year after year at a high CAGR of around 17%. In order to satisfy its rising natural gas demand, country is also depending on its imports as domestic gas production is low enough to match the rising demands. Hence, accessing the need of the time, more oil and gas companies are heavily investing in the sector and engaging themselves in new LNG contracts to match the fuelling demand of LNG in the region. Also, since natural gas is given priority for cooking and water heating to increase energy efficiency and mitigate environmental pollution city gas, the demand for the product will further rise. Hence, together with above factors, and increasing city gas penetration in the residential sector and rapid urbanization is expected to further pull up natural gas demand leading to an all-time high LNG market in China.
The report, “Asia Pacific LNG Market Outlook 2020”, by RNCOS spread over in 85 pages provides detailed analysis of the Asia-Pacific LNG Industry. The report identified major countries of Asia Pacific region in terms of demand and supply. Each of the countries is studied thoroughly with special focus on demand and supply scenario of the country; major LNG receiving terminals/production plants; under construction and proposed LNG receiving terminals/production plants; and medium and long term receiving/supply contracts. Forecasting of LNG demand/supply for 2015 and 2020 of each country is also provided in the report.
In order to provide a complete snapshot of the industry, we have also identified trends that are prevalent in the industry. Lastly, the research includes competitive landscape with profiling of major oil and gas companies in the LNG sector. The section covers brief business overview, key financials and recent development of the company.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.