The Catalyst Review September 2017 - 8

SPECIAL FEATURE

Emerging Gas Technologies for Petrochemical Industries
By Zhongyi Ding, PhD

Energy Market and LNG
World energy is set to change. Technologies in energy are improving and the demand for energy is increasing in fast-growing
emerging economies. As documented by BP (Figure 1), this rapid growth in energy demand, especially in the Asia-Pacific and African
regions, exemplifies the changing dynamic of world energy today.
Among the various primary energy sources available for consumption, natural gas is the fastest growing. As predicted by ExxonMobil
(Figure 2), natural gas will reach one quarter of all primary energy demand by 2040.
Natural gas is expected to grow faster than oil or coal due to rapid developments in liquefied natural gas (LNG) technology increasing
the accessibility of gas across the globe. BP's 2017 Energy Outlook report indicates that LNG's share in traded gas is increasing sharply
(Figure 3), with North America being the largest exporting region. The strong export of LNG from the United States is consistent with
predictions made by the US Energy Information Administration, or EIA (Figure 4).
With the growth of LNG, natural gas is now becoming relevant on a global scale. It is no longer limited to gas-rich regions only, which
means that competitive prices must now be decided on a global, rather than a regional, scale. The lower price of gas (LNG/NGL)
compared to alternative energy sources makes it the preferred means of energy and feedstocks for future development. Records
in North America show that increased trade of shale gas has been positively correlated with significant growth in petrochemical
production for the past 30 years (Figure 5). Natural gas, as a clean energy source, has additional environmental and public merits
compared to traditional fuels. On an international scale, the increasing ability of natural gas to compete with crude oil keeps the
Figure 1. Energy consumption by region.

Figure 2. Global energy mix evolves.

Figure 3. LNG's share in trading.

Source: BP (2017)
Source: BP (2017)
Figure 4. US energy consumption.

Source: EIA (2017)
8

Source: ExxonMobil (2017)
Figure 5. US natural gas trading.

Source: EIA (2017)

The Catalyst Review

September 2017

The Catalyst Review September 2017

Table of Contents for the Digital Edition of The Catalyst Review September 2017

The Catalyst Review September 2017 - cover
The Catalyst Review September 2017 - contents
The Catalyst Review September 2017 - 1
The Catalyst Review September 2017 - 2
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