According to the study, ‘Global Capacity And Capital Expenditure Outlook For Gas Storage – Russia To Lead In Gas Storage Capacity Additions’, Russia has been a major player in the field of oil and gas industry. Russian government and companies are investing humongous amounts to improve their capacity for gas storage which makes them the market leader when it comes to capital investment in the oil industry. However due to recent trends in technological landscape, Turkey has also emerged as major player in investments in the new build gas storage facilities. Russia is also a major player in the field of production of oil and gas industry.
The global gas industry is expected to grow at a tremendous rate in the future especially during the next 5 years. The share of gas in the global energy mix has although remained unchanged since the past half a decade which means that the total share of energy is being fulfilled by oil has remained constant for the past 5 years. The future of the gas industry is experienced to show high growth that shall be concentrated in only few regions. The regions shall mainly include the European region. The rising demand for oil industry is expected to fuel the growth of this industry.
Capital expenditure concerning gas storage implies the fixed expenditure for instance infrastructure that needs to be constructed by companies and organisation to store the gas that is extracted from its natural form.In order to achieve the growth in the oil and gas industry achievement of certain key factors is necessary. These include cost competitiveness which involves improving cost efficiency of gas industry in comparison to other forms of energy producing techniques such as LNG. The second key factor is safety of supply. This involves security of supply through creating adequate network and infrastructure such that the supply of oil and gas products can be maintained throughout. The third key factor is sustainability. This involves adequate improvement in the technological methods of producing oil and gas related products such that sustainability can be achieved. Sustainability can be achieved by assuring fulfilment of current oil and gas needs by saving the ability to meet the needs of future.
The world is currently in a transition phase and till 2030, the demand for oil shall grow at a higher rate as compared to the demand for any other fossil fuel. The consumption trend of oil and gas was witnessed to be the highest in the European region which shall continue to dominate the market in the coming years as well.
The oil and gas industry especially in the Russian region is highly concentrated with the production being mainly led by only few of the largest producing companies.
As the demand for oil and gas industry increases and it reached new improved levels, so in relation to that so would the demand for capital investment in gas storage industry would tend to increase. The capital investments in the future concerning storage of gas and oil would only increase in the future without witnessing a bad phase.
For more information on the research report, refer to below link:-
Ankur Gupta, Head Marketing & Communications