PETRONAS declared its membership to the United Nations Environment Programme’s Oil and Gas Methane Partnership 2.0 along with the International Renewable Energy Agency’s global Alliance for Industry Decarbonization in Sharm El Sheikh, Egypt in the UN Climate Change Conference COP27.
Cheniere Energy, Inc. revealed that Chienere Marketing LLC entered into long-term liquified natural gas (LNG) sales and signed an agreement with the PetroChina Company Limited subsidiary. As per the agreement PetroChina would purchase 1.8 million tons of LNG per year from Chienere Marketing.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 4966
Published Date: Jun 01, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Rising use of methane gas and growing mining activities are the major factors driving the market growth.
The market size of coal bed methane is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2035.
The major players in the market are Reliance Industries Limited, Arrow Energy Pty Ltd., PetroChina Company Limited, Baker Hughes, a GE Company LLC, Petroliam Nasional Berhad (PETRONAS), G3 Exploration, ConocoPhillips Company, GEECL, Halliburton, and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by technology, application, and by region.
The power generation segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Reduction in air quality and highly flammable and hazardous are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.