Natural Gas Reserves in the Middle East and India as its Market with Promising LNG Technology for Transportation Available to Purchase

The share of Natural Gas in global energy consumption has grown steadily and will continue to rise for the years to come. Forecasted supply of compromised natural gas is in the year 2050 to be 115-120 x 10⁹ toe or 13.4-14% and 228 x 20⁹ toe of remaining ultimate reserves or 12% of the total. Of the world’s two major natural gas provinces, the largest (Russia) is being exploited, while the other (The Middle East) is still rather untapped-hence its bearing on future gas supplies. India with its radiant market and high GDP growth rate promises to provide huge customer base for natural gas industry. Study on natural gas market in India is made in this paper. The paper gives a look into the opportunities arising out of the policy initiatives taken by the Government of India which are welcoming, though skewed development of the market due to regulated market pricing may be deterrent.

Liquefied Natural Gas (LNG) technology is used for natural gas transportation for long distances. The development and implementation of technologies in this field have led to significant growth in worldwide LNG business. Lessons learned in design, implementation and execution of large LNG carriers(trains and ships), as well as overall changes of LNG liquefaction trains in last twenty-five years, have been key to evolving design of LNG value chain.

This paper concentrates on natural gas reserves of Middle East and its potential of becoming the main supplier for the future, natural gas market in India, potential and limitation of gas supply scenario in India and LNG technology for transportation and its challenges in future.