Globalization of Natural Gas

The onset of the industrial revolution in Britain in the 18th centmy was driven by the industrial use of coal and later crude oil. Natural gas was initially viewed as an unwanted byproduct during the search for crude oil or coal deposits. However, today natural gas will be the global growth fuel of the 21st century. Global consumption of natural gas is projected to increase by about 70% between 2002 and 2025 [11]. ExxonMobil has projected that natural gas consumption will increase from 290 billion cubic feet per day in 2009 to 450 billion cubic feet per day in 2030 [20]. 

As the global natural gas demand increases worldwide over the course of this century, it is possible that the natural gas price in each global region will change over the levels in 2010. As of 2010, a large number of intra- and intercontinental natural gas pipeline projects are either under construction or planned in order to move massive quantities of natural gas from the Middle East and Russia to European and Asian markets that may drive the natural gas industry towards a more global market. In addition, the increase in the global liquefied natural gas distribution system will also provide increased mobility of natural gas that will reduce, but not eliminate, wide 

The hydrocarbon liquids (e.g., ethane and propane) associated with this massive increase in the LNG system will create a significant supply increase for these liquids. The export of ethane from North America to Europe may become an important factor in lowering ethylene manufacturing costs in Europe over the next several decades. 

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