Oil and Gas Storage Market 2018 Research by Type, Application and Manufacturers till 2023

Oil and gas storage Market Research Report- Forecast to 2023

Oil and Gas Storage Market 2018 Research by Type, Application and Manufacturers till 2023

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Oil and gas storage Market Research Report- Forecast to 2023

1 Summary Oil and gas storage plays a significant role in ensuring the reliability of supply to meet the demands of the oil and gas industry. Oil and gas storage containers hold liquids, compressed natural gas for short or longer term storage. The deregulation of oil and natural gas operations has made storage an important part of operations for oil and gas companies. These stored oil and natural gas are increasingly used for commercial and operational purposes and requirements by oil and gas companies to meet seasonal demands. Oil and gas are stored in the period of low demand in storage facilities and are withdrawn from storage facilities during periods of peak and high demand. The oil and gas storage market is predominantly classified as underground storage and above ground storage.

Key Players: The major players operating in oil and gas storage market are Royal Vopak N.V. (The Netherlands), TechnipFMC plc (U.K.), Magellan Midstream Partners, L.P. (U.S.), Amec Foster Wheeler plc (UK), The Vitol Group (The Netherlands), WorleyParsons Limited (Australia), Niska Gas Storage Partners LLC (U.S.), Centrica plc (U.K.) and Chiyoda Corporation (Japan).

Oil and gas storage Market Research Report- Forecast to 2023

2 Market Research Analysis: -

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Natural gas storage is expected to dominate the market in terms of product type. With gas being increasingly used for providing domestic heating in North America and Europe regions, storing gas for winter season demand is of prime importance to the countries in the region. Countries are eager to take advantage of the price drop of natural gas and are procuring it more than the required demand. This procured gas has to be stored so that it can be used again in the state of winter season demand. Natural gas is stored in underground inventory such as depleted reservoirs in oil and/or natural gas fields, aquifers, and salt cavern formations. Liquefied natural gas is stored in liquid or gaseous forms above ground.

Global Oil and Gas Storage Market, By Product Type

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Oil Natural Gas

Global Oil and Gas Storage Market, By Storage Type • •

Underground Aboveground

Global Oil and Gas Storage Market, By Region • • • •

Europe North America Asia-Pacific Rest of the world

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Oil and gas storage Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.