Global Natural Gas Demand has Declined but will Revive in 2010 Says New Report
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By: Joe Walsh
The report “The Future of the Global LNG Industry to 2015” available at http://www.reportbuyer.com/
According to the 183 page report, the global economic meltdown, along with the credit crunch has led to a significant reduction in the demand for natural gas, particularly from the industrial sector. Heavy industries in countries like the US, Japan and Republic of Korea have curtailed production leading to lower utilisation of natural gas. Low demand has led to increased natural gas storage. The natural gas inventories are currently at the highest levels seen in recent times and are having a detrimental impact on natural gas prices. Natural gas prices in the US, for example, have come down to nearly $4 per thousand cubic feet from a peak of more than $13 per thousand cubic feet in 2008.
However, expected increase in demand for natural gas in Asia-Pacific in 2010-11 will propel demand growth in the global natural gas industry. Natural gas is expected to play an increased role as a primary fuel worldwide, especially in the Asia Pacific region. In 2008, natural gas accounted for over 10% of total primary energy use in Asia Pacific, which was substantially lower than the global average of around 25%. This creates a big opportunity for growth of the natural gas industry in this region.
The report “The Future of the Global LNG Industry to 2015” is available from Report Buyer at:
Report Buyer product ID: GMD08480
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