Influence of technologies on LNG market development

Abstract

The article is devoted to the issues of influence of liquid natural gas (LNG) technologies on transformation of LNG market. The relevance of the article is determined by several factors: growth in demand of LNG, development of gas liquefaction technologies, necessity of CO2 emissions reduction and diversification of gas supply. All these factors contribute to development of gas liquefaction technologies and regasification LNG and also to assuming importance of companies that provide such technologies. Consequently, the article reveals competitive position which means possession of technologies but not only fossil fuels. The article presents evolution of technologies of gas liquefaction. In addition, the article shows advantages of LNG in comparison to other energy sources. Also in the article the analysis of the LNG service market is conducted. The article reveals advantages and disadvantages of the companies that offer services on researching gas fields, industry engineering and gas supply. Moreover, the article presents advantages and disadvantages of gas liquefaction methods. What is more, the article highlights the importance of not only gas liquefaction but also of transportation, storage and regasification of LNG. Furthermore, the article reveals consequences of LNG technologies development for energy field. The article concludes importance of technologies on LNG market and presents trends in LNG market development.