Natural Gas Equipment Industry has Entered a Golden Period, and Rising Demand is the General Trend

Natural gas is a general term for a mixture of gases mainly composed of hydrocarbons that exist in underground rock reservoirs. The main components are alkanes, of which methane accounts for the vast majority. It can be widely used as urban gas and industrial fuel. It is one of the three most common fossil energy sources along with coal and oil.

1) According to the gas source, natural gas can be divided into conventional natural gas and unconventional natural gas. The former refers to the natural gas developed from conventional oil and gas reservoirs, that is, the natural gas discovered through exploration that can be explained by traditional oil and gas generation theory. The latter refers to the natural gas that is difficult to explain with traditional petroleum geological theory and has a different state of occurrence and accumulation in the underground from conventional natural gas reservoirs, such as tight gas, coalbed methane, shale gas, and combustible ice.

2) According to the form, natural gas can be divided into conventional gas, LNG and CNG. Conventional gas is in gaseous state and is mainly transported through pipelines: LNG is in liquid state and has a smaller volume, about 1/620 of the volume of conventional natural gas, which is convenient for long-distance transportation. Transportation: CNG is in a compressed state and can be pressurized by conventional gas and put into the device. It is usually used as vehicle fuel. Compared with the two traditional fossil energy sources, coal and petroleum, natural gas has the advantages of cleanness, environmental protection, high coefficient of energy, and high calorific value. To get the complete report of this article, please search "Leqing Think Tank" on Baidu.

Taken together, natural gas has advantages over coal and oil in terms of efficiency and environmental protection*. Many countries will increase the development of the natural gas industry. In recent years, under the dual background of increasing environmental pressure and energy structure optimization, my country has The development of the natural gas industry chain has also received widespread attention.

Generally speaking , the natural gas industry chain includes three links: upstream exploration and development and production, midstream transportation and storage, and downstream sales and utilization (downstream utilization of natural gas includes natural gas for civil use, natural gas for vehicles and ships, natural gas for industrial chemicals, and natural gas for power generation, etc.) .

Global natural gas consumption is increasing year by year, international trade is becoming more frequent , and multiple factors have contributed to the continued growth of global natural gas consumption. In recent years, benefiting from widespread demand, supply growth, and the expansion of LNG supply capacity, natural gas consumption has grown strongly globally. Specifically, the increased industrialization in emerging Asia* and Africa*, the growth in electricity demand, and China's coal-to-gas conversion The continued advancement of natural gas and the development of low-cost gas sources in North America and the Middle East have brought strong impetus to the continued growth of the natural gas market.

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In 2017, global natural gas consumption reached 3680.4 billion cubic meters, an increase of 24% compared with 2964.5 billion cubic meters in 2007. It accounts for about 23% of the global secondary energy consumption, ranking third after oil and coal.

According to ExxonMobil's forecast, the average annual growth rate of global natural gas consumption demand will remain at 2.0% before 2030, while the average annual growth rate of oil and coal demand will only be 0.7%.

The medium- and long-term natural gas demand forecast released by the IEA shows that by 2035, the total global natural gas demand will reach 5.1 trillion cubic meters, accounting for 25% of the global total energy demand, and its share of the world's primary energy consumption is expected to surpass oil and coal.