Oil & Gas Storage Market Research Report - Global Forecast till 2025

Oil & Gas Storage Market Research Report: Information By Product Type (Oil and Natural Gas), Storage Type (Aboveground and Underground) and Region (North America, Europe, Asia-Pacific, the Middle East & Africa and South & Central America) - Forecast till 2027

ID: MRFR/E&P/2633-CR | August 2020 | Region: Global | 155 pages

Impact of Covid-19 Outbreak on Oil and Gas Storage Market
Oil and Gas Storage Market


Source: Primary Experts, Secondary Sources, and MRFR Analysis


The covid-19 outbreak has serious effects on the global economy since many sectors are affected by the current circumstances and operations of various sectors have come to standstill. In oil & gas sector, companies are dealing with lot of challenges due to decline in oil prices post covid-19 pandemic. As a result of pandemic and containment measures globally, the travel has almost come to halt which has resulted in declining oil demand. Also, it has created demand shock in storage space, both onshore and offshore locations quickly filling up. With onshore locations being exhausted, the companies are looking out for floating storage and distant storage locations. These distant storage locations result in further increase in cost considering both transportation and storage fees. In addition to this, the shorter life of gasoline and limitation of storing these jet fuels alongside heavy crude oil poses another challenge to the oil companies.


FIGURE: Cushing Crude Stockpiles Surge
Cushing Crude Stockpiles Surge


Source: U.S. Energy Information Administration


Due to exhaustion of onshore storage facilities, the hiring rates for crude oil carriers have gone up almost seven times compared to that in February 2020 since countries are looking for offshore storage facilities. For instance, the vessel charges are about USD 160,000-170,000 a day in April 2020 as compared to USD 25,000 a day in February 2020. Also, these rates might increase up to USD 200,000 per day in near future. As of 17th April 2020, the crude oil storage hub in Cushing, Okhalama, U.S. was 70% full and is expected to be 100% full in couple of months. The total capacity of hub is 76 million barrels. The U.S. Department of Energy is in process of leasing around 77 million barrels of available space in the Strategic Petroleum Reserve to private companies to store their oil. As a result, oil producers are looking out for alternative options such as oil tankers, pipelines, SPR spaces, rail cars, expansion of storage terminals, and so on for storage of crude oil both on land and sea.

1 EXECUTIVE SUMMARY

1.1. MARKET ATTRACTIVENESS ANALYSIS

1.1.1. GLOBAL OIL & GAS STORAGE MARKET, BY PRODUCT TYPE

1.1.2. GLOBAL OIL & GAS STORAGE MARKET, BY STORAGE TYPE

1.1.3. GLOBAL OIL & GAS STORAGE MARKET, BY REGION

2 MARKET INTRODUCTION

2.1. DEFINITION

2.2. SCOPE OF THE STUDY

2.3. MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1. RESEARCH PROCESS

3.2. PRIMARY RESEARCH

3.3. SECONDARY RESEARCH

3.4. MARKET SIZE ESTIMATION

3.5. FORECAST MODEL

3.6. LIST OF ASSUMPTIONS

4 MARKET DYNAMICS

4.1. INTRODUCTION

4.2. DRIVERS

4.2.1. URGENT NEED FOR STORAGE SPACE FOR STRATEGIC PETROLEUM RESERVES (SPRS)

4.2.2. INCREASING DEMAND FOR NATURAL GAS STORAGE SYSTEMS

4.3. RESTRAINTS

4.3.1. HIGH STORAGE COST

4.4. OPPORTUNITIES

4.4.1. EXPLORATION OF UNCONVENTIONAL RESERVOIRS

5 MARKET FACTOR ANALYSIS

5.1. VALUE CHAIN ANALYSIS/SUPPLY CHAIN ANALYSIS

5.2. PORTER’S FIVE FORCES MODEL

5.2.1. BARGAINING POWER OF SUPPLIERS

5.2.2. BARGAINING POWER OF BUYERS

5.2.3. THREAT OF NEW ENTRANTS

5.2.4. THREAT OF SUBSTITUTES

5.2.5. INTENSITY OF RIVALRY

6 GLOBAL OIL & GAS STORAGE MARKET, BY PRODUCT TYPE

6.1. INTRODUCTION

6.2. OIL

6.3. NATURAL GAS

7 GLOBAL OIL & GAS STORAGE MARKET, BY STORAGE TYPE

7.1. INTRODUCTION

7.2. ABOVEGROUND

7.3. UNDERGROUND

8 GLOBAL OIL & GAS STORAGE MARKET, BY REGION

8.1. INTRODUCTION

8.2. NORTH AMERICA

8.2.1. US

8.2.2. CANADA

8.2.3. MEXICO

8.3. EUROPE

8.3.1. GERMANY

8.3.2. FRANCE

8.3.3. UK

8.3.4. ITALY

8.3.5. SPAIN

8.3.6. REST OF EUROPE

8.4. ASIA-PACIFIC

8.4.1. CHINA

8.4.2. INDIA

8.4.3. AUSTRALIA

8.4.4. INDONESIA

8.4.5. JAPAN

8.4.6. SOUTH KOREA

8.4.7. REST OF ASIA-PACIFIC

8.5. MIDDLE EAST & AFRICA

8.5.1. SAUDI ARABIA

8.5.2. UAE

8.5.3. SOUTH AFRICA

8.5.4. KUWAIT

8.5.5. REST OF THE MIDDLE EAST & AFRICA

8.6. SOUTH AMERICA

8.6.1. BRAZIL

8.6.2. ARGENTINA

8.6.3. REST OF SOUTH AMERICA

9 COMPETITIVE LANDSCAPE

9.1. INTRODUCTION

9.2. COMPETITIVE OVERVIEW

9.3. COMPETITIVE BENCHMARKING

9.4. MARKET SHARE ANALYSIS

10 COMPANY PROFILES (TERMINAL MANAGEMENT SYSTEM COMPANIES)

10.1. ABB

10.1.1. COMPANY OVERVIEW

10.1.2. FINANCIAL OVERVIEW

10.1.3. PRODUCTS/INSTALLATIONS OFFERED

10.1.4. KEY DEVELOPMENTS

10.1.5. SWOT ANALYSIS

10.1.6. KEY STRATEGIES

10.2. IMPLICO GMBH

10.2.1. COMPANY OVERVIEW

10.2.2. FINANCIAL OVERVIEW

10.2.3. PRODUCTS/INSTALLATIONS OFFERED

10.2.4. KEY DEVELOPMENTS

10.2.5. SWOT ANALYSIS

10.2.6. KEY STRATEGIES

10.3. WORLDLINE

10.3.1. COMPANY OVERVIEW

10.3.2. FINANCIAL OVERVIEW

10.3.3. PRODUCTS/INSTALLATIONS OFFERED

10.3.4. KEY DEVELOPMENTS

10.3.5. SWOT ANALYSIS

10.3.6. KEY STRATEGIES

10.4. HONEYWELL INTERNATIONAL, INC

10.4.1. COMPANY OVERVIEW

10.4.2. FINANCIAL OVERVIEW

10.4.3. PRODUCTS/INSTALLATIONS OFFERED

10.4.4. KEY DEVELOPMENTS

10.4.5. SWOT ANALYSIS

10.4.6. KEY STRATEGIES

11 COMPANY PROFILES (TERMINAL AUTOMATION COMPANIES)

11.1. LARSEN & TOUBRO LIMITED

11.1.1. COMPANY OVERVIEW

11.1.2. FINANCIAL OVERVIEW

11.1.3. PRODUCTS/INSTALLATIONS OFFERED

11.1.4. KEY DEVELOPMENTS

11.1.5. SWOT ANALYSIS

11.1.6. KEY STRATEGIES

11.2. ROCKWELL AUTOMATION

11.2.1. COMPANY OVERVIEW

11.2.2. FINANCIAL OVERVIEW

11.2.3. PRODUCTS/INSTALLATIONS OFFERED

11.2.4. KEY DEVELOPMENTS

11.2.5. SWOT ANALYSIS

11.2.6. KEY STRATEGIES

11.3. YOKOGAWA ELECTRIC CORPORATION

11.3.1. COMPANY OVERVIEW

11.3.2. FINANCIAL OVERVIEW

11.3.3. PRODUCTS/INSTALLATIONS OFFERED

11.3.4. KEY DEVELOPMENTS

11.4. ENDRESS+HAUSER GROUP SERVICES AG

11.4.1. COMPANY OVERVIEW

11.4.2. FINANCIAL OVERVIEW

11.4.3. PRODUCTS/INSTALLATIONS OFFERED

11.4.4. KEY DEVELOPMENTS

11.5. CHEMTROLS INDUSTRIES LTD

11.5.1. COMPANY OVERVIEW

11.5.2. FINANCIAL OVERVIEW

11.5.3. PRODUCTS/INSTALLATIONS OFFERED

11.5.4. KEY DEVELOPMENTS

11.6. PROCESS AUTOMATION SOLUTIONS

11.6.1. COMPANY OVERVIEW

11.6.2. FINANCIAL OVERVIEW

11.6.3. PRODUCTS/INSTALLATIONS OFFERED

11.6.4. KEY DEVELOPMENTS

12 COMPANY PROFILES (OIL & STORAGE COMPANIES)

12.1. ROYAL VOPAK

12.1.1. COMPANY OVERVIEW

12.1.2. FINANCIAL OVERVIEW

12.1.3. PRODUCTS/INSTALLATIONS OFFERED

12.1.4. KEY DEVELOPMENTS

12.2. OILTANKING GMBH

12.2.1. COMPANY OVERVIEW

12.2.2. FINANCIAL OVERVIEW

12.2.3. PRODUCTS/INSTALLATIONS OFFERED

12.2.4. KEY DEVELOPMENTS

12.3. VITOL

12.3.1. COMPANY OVERVIEW

12.3.2. FINANCIAL OVERVIEW

12.3.3. PRODUCTS/INSTALLATIONS OFFERED

12.3.4. KEY DEVELOPMENTS

12.4. TECHNIPFMC PLC

12.4.1. COMPANY OVERVIEW

12.4.2. FINANCIAL OVERVIEW

12.4.3. PRODUCTS/INSTALLATIONS OFFERED

12.4.4. KEY DEVELOPMENTS

12.5. BUCKEYE PARTNERS

12.5.1. COMPANY OVERVIEW

12.5.2. FINANCIAL OVERVIEW

12.5.3. PRODUCTS/INSTALLATIONS OFFERED

12.5.4. KEY DEVELOPMENTS

12.6. CENTRICA PLC

12.6.1. COMPANY OVERVIEW

12.6.2. FINANCIAL OVERVIEW

12.6.3. PRODUCTS/INSTALLATIONS OFFERED

12.6.4. KEY DEVELOPMENTS

12.7. MAGELLAN MIDSTREAM PARTNERS, L.P.

12.7.1. COMPANY OVERVIEW

12.7.2. FINANCIAL OVERVIEW

12.7.3. PRODUCTS/INSTALLATIONS OFFERED

12.7.4. KEY DEVELOPMENTS

12.8. AMEC FOSTER WHEELER

12.8.1. COMPANY OVERVIEW

12.8.2. FINANCIAL OVERVIEW

12.8.3. PRODUCTS/INSTALLATIONS OFFERED

12.8.4. KEY DEVELOPMENTS

12.9. WORLEYPARSONS LIMITED

12.9.1. COMPANY OVERVIEW

12.9.2. FINANCIAL OVERVIEW

12.9.3. PRODUCTS/INSTALLATIONS OFFERED

12.9.4. KEY DEVELOPMENTS

12.10. BROOKFIELD INFRASTRUCTURE PARTNERS L.P.

12.10.1. COMPANY OVERVIEW

12.10.2. FINANCIAL OVERVIEW

12.10.3. PRODUCTS/INSTALLATIONS OFFERED

12.10.4. KEY DEVELOPMENTS

13 COMPANY PROFILES (INSTRUMENTATION AND MEASUREMENT SYSTEM COMPANIES)

13.1. EMERSON ELECTRIC CO

13.1.1. COMPANY OVERVIEW

13.1.2. FINANCIAL OVERVIEW

13.1.3. PRODUCTS/INSTALLATIONS OFFERED

13.1.4. KEY DEVELOPMENTS

13.2. TSI INCORPORATED

13.2.1. COMPANY OVERVIEW

13.2.2. FINANCIAL OVERVIEW

13.2.3. PRODUCTS/INSTALLATIONS OFFERED

13.2.4. KEY DEVELOPMENTS

13.3. GANTNER INSTRUMENTS

13.3.1. COMPANY OVERVIEW

13.3.2. FINANCIAL OVERVIEW

13.3.3. PRODUCTS/INSTALLATIONS OFFERED

13.3.4. KEY DEVELOPMENTS

13.4. KEYSIGHT TECHNOLOGIES UK

13.4.1. COMPANY OVERVIEW

13.4.2. FINANCIAL OVERVIEW

13.4.3. PRODUCTS/INSTALLATIONS OFFERED

13.4.4. KEY DEVELOPMENTS