Global Gas to Liquids Market: Overview
Gas-to-liquids (GTL) involves converting natural gas into high-quality liquid fuels, which are traditionally obtained from crude oil. At present, the ever-increasing demand for energy and the growing world population has necessitated the development of alternate energy sources to ease the burden on conventional sources. With the rising environmental considerations of conventional sources of energy, clean sources of energy are needed for reduced carbon footprint.
Natural gas is available in abundance and is affordable. Employing GTL production methodologies, countries with abundance of natural gas can use them for economic growth to replace them with traditionally produced liquid fuels. The use of GTL technology is a foolproof alternative to harness clean, abundant natural gas resources and produce high-quality petrochemical products and transportation fuels in a cost-effective and environmentally conscious manner.
Conversion of natural gas to liquid fuels is a refinery process, wherein gaseous hydrocarbons are converted into longer-chain hydrocarbons such as diesel fuel or gasoline. Methane-rich hydrocarbons are converted into synthetic fuels in three ways: Fischer-Tropsch process, Syngas to gasoline process, and Methanol to Gasoline process. Gas to liquid diesel is superior in quality over conventional refinery diesel produced from crude oil. The low-emission premium grade fuel can either be used pure or in blends with traditional diesel.
The assessment of the vendor landscape of the GTL market makes for an interesting read as analysts have not only identified the top players but have also included their detailed competitive profile. Key parameters such as business overview, competitive strategies, product portfolio and specifications, financial standing, and recent developments have been taken into consideration to assess the performance of the key players in the global gas to liquids market.
Global Gas to Liquids Market: Drivers and Restraints
Across the world, the ever-increasing demand for energy, government policies that support the production of clean fuel, and initiatives for the conversion of waste natural gas into liquid fuels are the major factors driving the gas to liquids market. Over the past few years, several big companies have initiated the development of synthetic fuels using gas to liquid technology. As per the World Bank, almost 150 billion cubic meters of freely available natural gas can be transfomed into useful liquid fuels using gas to liquids technologies.
The high cost involved in the development of gas to liquids plants coupled with size constraints of slurry based and fixed reactors are the main restraints to this market. However, with increasing natural gas consumption particularly in countries such as India, Japan, and China the introduction of small sized micro-channel reactors in place of conventional reactors can open opportunities for gas to liquids market.
Global Gas to Liquids Market: Regional Outlook
The global GTL market is analyzed with respect to the regional segments of North America, Europe, Asia Pacific, and Rest of the World. This includes identification of major gas to liquids plants located in the regional segments of the market. At present, only a few GTL plants are operational; however, several large and small scale projects for the development of GTL facilities are underway in parts of the world. At present, the major GTL plants in the Middle East and Africa are located in Qatar, Nigeria, South Africa, and Mozambique, whereas Malaysia is actively involved in GTL operations in Asia Pacific.
Major Companies Mentioned in Report
Some of the key players in the gas to liquids market include Sasol Limited, Chevron Corporation, Compact GTL, Royal Dutch Shell, Primus Green energy, and Linc Energy among others.
This post was originally published on Kentucky Reports