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ICEX Commodity Profile – Natural Gas
Natural gas has emerged as the most preferred fuel due to its
inherent environmentally benign nature, greater efficiency and cost
effectiveness. It is a colorless, odorless, environment-friendly energy
source, which is cleanest of all the fuels. Natural gas is a highly
flammable hydrocarbon gas, mainly consisting of methane (CH4). It also
includes other gases such as oxygen, hydrogen, nitrogen, ethane,
ethylene and helium.
Natural gas remains a key energy source for industrial sector uses and
electricity generation. The industrial sector currently consumes more
natural gas than any other end-use sector. The natural gas sector has
gained importance, particularly over the last decade, and is being
termed as the Fuel of the 21st Century.
Economic importance
- Natural gas is mainly used in the industrial, residential, commercial,
transportation and electric power sectors.
- It has a multitude of industrial uses, including providing the base
ingredients for such varied products as plastic, fertilizer,
anti-freeze, and fabrics.
- It can be used for cooking, washing and drying, water warming, heating
and air conditioning.
- Natural gas can be used as a motor vehicle fuel in two ways- as
compressed natural gas (CNG), which is the most common form, and as
liquefied natural gas (LNG).
- Other uses of Natural Gas include cooling (space conditioning and
refrigeration), cooking or heating.
Global Scenario
Russia has the largest reserves of natural gas in the world followed by
Iran. However, Russia, the United States and Canada are the three
largest natural gas producing countries in the world. Iran occupies the
fourth position in the world’s natural gas production.
Domestic Scenario
India accounts for 1% share in the world’s natural gas output.
Cumulative domestic natural gas production during April-February 2008-09
was 30,019 million cubic meters. In 2008-09, natural gas output is
expected to grow by a meager 1.3 per cent to 32,849 mcm. In 2009-10,
India’s natural gas production is expected to grow by a robust 60.0% to
52,239 million cubic meters (mcm). This is largely because of
commencement of natural gas production from Reliance Industries’ (RIL)
Krishna Godavari basin. |
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