NaturalGas Pipeline Transportation: Introduction
· Natural gas is a naturally occurring hydrocarbon gas consistingprimarily of methane. It is used as a source of energy for industrial,residential, as well as commercial applications.
· From deep wells in the earth’s surface, companies extracthydrocarbons comprising methane mixtures, which are then processed and refinedinto pure methane and transported as pipeline quality gas to be distributed inhouseholds, commercial establishments, and industries as fuel. These reservescome from reservoirs comprising crude oils and other non-commercial substances.Pure methane is extracted from materials and is transferred through local andlong-distance pipelines for delivery to various customers.
Key Drivers and Restraints of Natural Gas PipelineTransportation Market
· According to International Energy Agency (IEA), oil and naturalgas meet 50% of the world’s energy demand. Consumption of natural gas increasedby 4.6% in 2018. According to Rystad Energy, total energy consumption in thecommercial sector stood at 4, 12,627 Ktoe in 2018 and is anticipated to riseduring the forecast period.
· Natural gas is transported via a series of large pipinginfrastructure. Pipeline transportation of natural gas provides a safe,economic, and environmentally sound alternative to most other options of energytransport. In the power sector, natural gas is used as a fuel for co-generationpower plants. In the fertilizer industry, natural gas is used as feedstock forthe production of ammonia and urea. In the petrochemical industry, natural gasis used for the production of chemical products such as methanol. Natural gasis used as a fuel for cooking and heating purposes in domestic and commercialapplications. Thus, usage of natural gas in various industries is expected todrive the naturalgas pipeline transportation market.
· Governments of countries across the globe are leaning toward alow carbon future. This is anticipated to impact the consumption of oil andnatural gas, resulting in limited production of oil and natural gas. In turn,this is likely to hamper the global natural gas pipeline transportation market.
COVID-19 Impact Analysis on Supply Chain
· Governments of several countries across the globe have imposedstringent lockdowns to limit the spread of the coronavirus. Movement ofindividuals and economic activities, related to goods and services, have cometo a halt because of lockdowns. Supply could not adjust to the drop inconsumption. This resulted in considerable buildup of gas in storage. Lowprices and unprecedented drop in demand have created difficulties for theupstream sector in regions with unfavorable production economies.
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NaturalGas Pipeline Transportation Market Segmentation
· The global natural gas pipeline transportation market can besegmented based on type, pipeline component, and location
· In terms of type, the global natural gas pipeline transportationmarket can be divided into gathering pipeline, transportation pipeline, anddistribution pipeline
· In terms of pipeline component, the global natural gas pipelinetransportation market can be segregated into transmission pipes, compressor stations,metering stations, and valves
· In terms of location, the global natural gas pipelinetransportation market can be classified into onshore and offshore
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Natural Gas Pipeline Transportation Market: RegionalSegmentation
· In terms of region, the global natural gas pipelinetransportation market can be split into Middle East & Africa, LatinAmerica, Asia Pacific, Europe, and North America
· Natural gas is being highly publicized as low-carbon energysystem, which is building the credibility of companies in the market landscape.Europe is anticipated to absorb most of the natural gas supply from exporters,as users are switching from coal to gas in the power sector. Thus, the naturalgas pipeline transportation market is projected to expand significantly in Europeduring the forecast period.
· According to the World Energy Council, the U.S. has 1,161trillion cubic feet of technically recoverable unconventional gas. China has1,115 trillion cubic feet of unconventional gas. The U.S. was the leadingcountry in terms of production of unconventional gas in 2018. Its annualproduction of unconventional gas stood at 22 trillion cubic feet in 2018.China’s production output stood at 10 trillion cubic feet in the year. Thus,surge in production of gas is expected to boost the natural gas pipelinetransportation market during the forecast period.
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Key Players Operating in Global Market
· Kinder Morgan
· Chevron Corporation
· PetroChina Company Limited
· SINOPEC
· Transneft
· ENBRIDGE INC.
· ONEOK
· Berkshire Hathaway Energy
· Enable Midstream Partners
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