Though the world is divided into three economic categories; developed, developing, and the third-world, they all have one thing in common. They all want more energy; preferably clean energy. This strong global demand for more energy is the core market driver for our CTMs. Depending on which economic category you live in, reliable and affordable energy is needed to either sustain prosperity, continue social and economic development, or to advance to a better quality of life. These are undeniably the fundamental market-drivers for more energy.
The new price for natural gas, propane, and LPG is strong evidence that despite these “new” prices, demand for such cleaner sources of energy is unwavering. In turn, this will create a strong demand for CTMs that can safely deliver that “clean” energy.
Europe is the new world driver for the price of LNG. Even though the European Union has access to an abundance of natural gas from Russia, it demands a greater proportion of the world’s supply; mostly through LNG imports. – Europeans are passionate about reducing their dependance on Russian gas! – The resulting increase in European demand is setting new global price records. The price of LNG in Asia is now set by European demand. It is foreseeable that increasing European demand will drive up the world price of LNG further still.
Where CO2 in biogas is removed and sequestered, the remaining methane becomes carbon neutral and therefore renewable. As such, RNG from biogas is in very high demand. RNG is now the fastest-growing renewable energy source in developed nations. As CanaGas P-LNG transport technology is ideally suited for the low-cost liquefaction and transport of biogas from remote locations such as farms and forestry operations, there will be a strong market pull for the CanaGas solution. Conveniently, we can also transport CO2 for sequestration.
Though Europe is now the market driver for LNG, Asia remains the market driver for LPG. Its strong demand determines the highest price in the world. Mexico is a close second. Nearly 80% of Mexicans use LPG to drive their vehicles, heat their homes, or cook their food.
As so many products are made from ethylene, it is considered the world’s most important chemical. As expected, global demand is strong and growing, the products made from ethylene include:
1. Polyethylene (High, Medium, and Low Density),
2. Ethanol (Industrial Alcohol),
3. Ethylene Glycol (Automotive and Aircraft Anti-freeze),
4. Polyester (Fiber and Films),
5. Acetic Acid,
6. Vinyl Chloride and Polyvinyl Chloride (PVC),
6. Styrene (Synthetic Rubber), and,
7. P.E.T. (Water Drinking Bottles).
There is a growing gap between areas of ethylene production and large industrial consumers in Asia, Europe, and Mexico that need ethylene as a feedstock. With such strong demand for ethylene to make the above products, the demand for the CanaGas solution to deliver ethylene in a safe and low-cost manner is also expected to be very strong.
The world’s need to sequester CO2 is a massive market driver. With the price on carbon continuing to increase, there is expected to be an unprecedented demand for CTMs that can safely and cost effectively transport CO2 for sequestration.