Global gas pooling mechanism market has received a tremendous boost in recent years on account of burgeoning energy needs that is driven by economic development, industrialization, and population expansion. Gas pooling mechanism involves techniques that combine gas produced from domestic fields into liquefied natural gas (LNG), thus creating inexpensive gas that is likely to gain considerable market share. Gas stations have major advantages such as ease of facility set up and minimum carbon emissions as compared to conventional fuels, which are key factors driving the gas pooling mechanism market. High LNG pricing is also easily absorbed into the market after coalescing low-cost domestic gas into it, further enhancing the global market growth. Increased power availability and subsequently reduced reliance on fertilizer imports is another factor expected to augment the global market. Implementation of Gas Utilization Policy ensures that gas is allocated appropriately to the various industrial sectors on a priority basis, which is further expected to complement the demand for gas pooling mechanism techniques for industrial applications. Upcoming and existing re-gasification terminals that can be utilized for gas pooling are expected to provide imperatives for the global market growth. Stable pricing is expected to encourage long gestation investments based on gas, thus providing opportunities for the global market growth.
On basis of application, natural gas can be classified into power generation, transportation, industrial, fertilizers, hydrogen production, and other purposes. Maximum growth potential is likely to be achieved in the power generation and fertilizer sectors, which is expected to accentuate the market growth. Gas pooling however, is linked to crude oil, which is likely to result in price volatility. This factor could hamper the global market growth over the forecast period. Other restraining components are increasing regulations against depletion of conventional resources such as fossil fuels. These could further negatively impact the global gas pooling mechanism market. LNG suppliers are also likely to encounter high risks by entering into unattractive commercial contracts as re-gasified and high priced LNG is easily consumed in the Indian market, leading to further complexities for growth of gas pooling mechanism.
Major gas pooling mechanism market concentration originates from North America, mostly from the U.S. due to highly developed industries and corresponding demand for energy. Canada also generates considerable demand for energy, hence further strengthening North American market growth. Moderate demand is generated from Europe, mainly from the UK, Germany, France and Switzerland. Increasing industrial output and rising energy demand in emerging markets of China and India is expected to be vital for Asia Pacific market growth. African nations such as Egypt & South Africa along with Middle East nations such as Saudi Arabia also generate demand for energy and subsequently gas pooling mechanism.
Some of the major players in the global gas pooling mechanism industry include Saudi Aramco, National Iranian Oil Corp., Gazprom, PetroChina, ExxonMobil, Royal Dutch Shell, Chevron, Kuwait Petroleum Corp., Pemex, Abu Dhabi National Oil Co. and Oil & Natural Gas Corporation Ltd. (ONGC, India).
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