An Outline Of The Global Gas Market

2052 Words Dec 9th, 2014 9 Pages
.0 Introduction
This report is an outline of the present status of the global gas market, its advancement from the past to the present basic market interface and the future of global natural gas markets.
The comparison of Liquefied Natural Gas (LNG) as source energy with other sources of energy, the impacts around the globe, market structure between regions, the challenges created and a forecast in regions around the globe based on prices, demand and supply of the natural gas market.
1.1 What is Natural Gas?
Natural gas is one of the safest and cleanest forms of energy used for daily living.
It is the mixture of gases which are rich in different hydrocarbons such as Methane, Ethane, Propane, Butane and Pentane and mixture of non-hydrocarbons such as Carbon Dioxide, Nitrogen, Water vapor, Helium and Hydrogen sulfide.
Natural gas is classified into three forms. It is referred to as “wet” when the various compositions of hydrocarbons are present except methane, “dry” when the composition is close to purely methane and “sour” when it has a weighty amount of hydrogen sulfide.
Natural gas is consumed in the various sectors in a country’s economy such as the industry sector which roughly uses 24%, commercial and domestic uses 22% and power generation is the largest consumer of gas. Natural Gas uses 40% in the energy sector due to the huge demand and produces less CO2 compared to other fossil fuel such as coal for power generation.
Figure 1.1: Rate of natural gas usage in 1980…
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