Sasol Limited announced the completion of its Lake Charles Chemicals Project (LCCP) in the United States. The project, which includes a GTL plant, aims to convert natural gas into high-value chemicals. The completion of the project marks a significant milestone for Sasol's GTL operations and its expansion into the North American market.
Shell and Air Liquide announced a collaboration to develop a large-scale GTL plant in Canada. The project aims to leverage Shell's GTL technology and Air Liquide's expertise in hydrogen production to convert natural gas into cleaner transportation fuels and hydrogen. The collaboration reflects Shell's commitment to advancing sustainable energy solutions and reducing carbon emissions in the transportation sector.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 5101
Published Date: Jul 22, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing abundance of natural gas reserves is the major factor driving the market growth.
The market size of gas-to-liquid is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2023-2035.
The major players in the market are Royal Dutch Shell, Chevron Corporation, ExxonMobil Corporation, Sasol Limited, PetroSA (South African National Oil Company), Velocys PLC, ENI S.p.A., OLTIN YO'L GTL LLC, Qatar Petroleum Company, and CompactGTL Limited, and others.
The residential segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.