Report Code: A07248 | Pages: NA | Mar 2023 | 1369 Views | ||
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Pandemic disrupted the entire world and affected many industries.
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Request Now !Global tight gas market is expected to experience significant growth during the forecast period, owing to shift in focus toward unconventional gases. Tight gas is a type of natural gas with low penetrability that is produced from reservoir rocks. Massive hydraulic fracturing is required to produce the well for tight gas due to low matrix permeability of less than 0.1 millidarcy (mD). Tight gas is one of the cleanest burning fossil fuels, as it has low carbon content and burns with lower sulfur emissions, metal compounds, and carbon dioxide. Tight gas refers to natural gas reservoirs locked in impermeable, hard rock, making the underground formation extremely tight. In addition, tight gas can be trapped in sandstone or limestone formations that are atypically impermeable or nonporous.                            Â
With the outbreak of COVID-19, the tight gas demand is experiencing considerable decrease. Owing to the lockdown, dearth has been observed in the number of labors, which is further disrupting the production of gas. Furthermore, the imposition of lockdown is directly affecting the transportation services all around the world. Power generation has become a major issue due to unavailability of tight gas. This has further led to increase in issues of power cut in rural areas. Moreover, the tight gas industry is facing daily losses with decline in production. In addition, enforcement of lockdown has affected the import and export of tight gas across the globe.Â
Tight gas has several applications that makes it an essential resource, which is expected to create potential growth opportunities for the growth of the global tight gas market. Â Numerous countries are decarbonizing their power mix by shifting to renewable energy that has controlled carbon dioxide emissions. Fuels such as natural gas and bio-methane are considered as potential alternatives to fossil fuels to reduce the environmental impact of transportation. Environment issues, manpower limitations, and access to drilling locations are some of the constraints of this market.Â
Applications in the natural gas industry have been growing considerably. Flammable gas is utilized as a vitality fuel in transportation and local areas. The transportation division has supported the gaseous petrol showcase, with ascend in arrangement of CNG vehicles. In excess of 24 million flammable gas vehicles (NGVs) were operational across the globe in 2017. Petroleum gas can be utilized in all classes of vehicles, for example, cruisers, vehicles, vans, light & hard core trucks, transports, lift trucks, and trains. Thus, all these factors collectively contribute toward the growth of the global market.Â
Key benefits of the report
Tight Gas Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | British petroleum, Royal Dutch Shell, Exxon Mobil and Chesapeake Energy Total SA, Sinopec, PetroChina and Anadarko Petroleum Co., Marathon Oil, Pioneer Natural Resources, Devon Energy, EOG Resources |
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