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Business Upturn
3 days ago
- Business
- Business Upturn
LNG Station Market Size to Grow $1.56 Billion by 2030, Driven by Steady 9.0% CAGR – Report by MarketsandMarkets™
Delray Beach, FL, June 30, 2025 (GLOBE NEWSWIRE) — LNG Station Market size is projected to grow from USD 1.02 billion in 2025 to USD 1.56 billion by 2030, at a CAGR of 9.0% according to a new report by MarketsandMarkets™. The market is witnessing notable growth driven by the global shift toward cleaner transportation fuels and the need to reduce greenhouse gas emissions, particularly in the heavy-duty vehicle segment. Rapid development of natural gas infrastructure and increasing LNG adoption in commercial transport are propelling demand for efficient and scalable refueling stations. LNG stations offer a low-emission, cost-competitive alternative to diesel, making them attractive for long-haul logistics. Additionally, supportive government policies, advances in cryogenic technology, and public-private investments in fueling infrastructure are accelerating deployment. The market is further supported by expanding fleet conversion programs and growing interest in sustainable mobility across emerging economies. Download PDF Brochure: Scope of the Report: Report Metric Details LNG Station Market Size Values CAGR 9.0% USD 1.56 billion by 2030 USD 1.02 billion in 2025 Base Year 2024 Forecast Period 2021–2030 Forecast Unit Value (USD Million/Billion) Segments Covered Solution, Station Type, Capacity, Application, Mode, and Region Geographic Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa The LNG Station Market is segmented by solution into EPC and components. The EPC segment dominates the LNG Station Market due to the growing demand for turnkey solutions that streamline project execution from design to commissioning. Increasing investments in LNG infrastructure, particularly in emerging economies, drive the need for integrated services to reduce project timelines and risks. EPC players offer technical expertise, cost optimization, and compliance with environmental and safety standards, making them ideal partners for large-scale projects. Moreover, the shift toward public-private partnerships and the expansion of LNG fueling networks further boost demand for end-to-end engineering, procurement, and construction capabilities in the market. Based on Region Based on region, Asia Pacific dominates the LNG Station Market owing to rapid industrialization, expanding transportation networks, and growing environmental concerns across countries like China, India, and Japan. Government-led initiatives promoting cleaner fuels and national energy security are accelerating LNG adoption, particularly in heavy-duty transport and marine applications. China, in particular, leads with an extensive LNG infrastructure, backed by strong policy frameworks and state-owned enterprises such as CNPC. Rising fuel demand, coupled with urbanization and stringent emission norms, has driven investments in LNG stations across the region. Additionally, public and private collaborations, advancements in LNG storage and dispensing technologies, and cost advantages associated with regional LNG production and import terminals boost the market. Asia Pacific's proactive stance on reducing carbon emissions and improving air quality continues to support the expansion of LNG fueling infrastructure, reinforcing its leadership in the global LNG station landscape. Based on Station Type Based on station type, the fixed LNG station segment holds the dominant share in the LNG Station Market due to its suitability for high-demand, long-term fueling operations, particularly in heavy-duty transportation and industrial applications. These stations offer robust infrastructure capable of handling large volumes of LNG, ensuring consistent and efficient refueling services. Their strategic placement along major transport corridors and in industrial zones enhances accessibility and supports fleet-based fueling needs. Fixed stations are preferred for their reliability, advanced storage capacity, and ability to integrate with existing natural gas supply chains. Additionally, governments and private players are increasingly investing in fixed LNG stations to support national clean fuel agendas and reduce transportation emissions. Technological advancements in cryogenic systems and automation have improved the operational efficiency of fixed stations, making them a cost-effective and scalable solution. As LNG adoption grows globally, particularly in regions like Asia Pacific and Europe, fixed stations continue to be a cornerstone of long-term LNG infrastructure development. Request Sample Pages: The LNG Station Market is primarily driven by increasing demand for low-emission and cost-effective fuels in the transportation sector, particularly for heavy-duty and long-haul vehicles. Government regulations aimed at reducing greenhouse gas emissions and promoting clean energy alternatives further accelerate market growth. Advancements in cryogenic storage, fuel dispensing technology, and modular station design enhance operational efficiency and scalability. Strategic investments in LNG infrastructure by key industry players, along with favorable policy support and public-private partnerships, contribute significantly to the expansion of LNG fueling networks across key global markets. Regional Analysis Europe is projected to be the fastest-growing region in the LNG Station Market, driven by strong environmental regulations and a firm commitment to reducing transport emissions. The region is witnessing increased adoption of LNG in both heavy-duty road transport and maritime sectors, supported by targeted government incentives and funding programs. Expanding LNG corridors, rising investments in fueling infrastructure, and a strategic shift toward alternative fuels to enhance energy security are further accelerating growth. As countries prioritize cleaner mobility solutions, LNG stations are becoming integral to Europe's sustainable transport framework. Make an Inquiry: Key Players Some of the major players in the LNG Station Market are CNPC (China), Shell Plc (UK), Chart Industries (US), Jereh Oil & Gas Engineering Corporation (China), Westfalen (Germany), Axegaz T&T (France), Cryonorm Group (Netherlands), Cryostar (France), and INOX India Limited (India). The major strategies adopted by these players include acquisitions, sales contracts, product launches, agreements, alliances, partnerships, and expansions. Browse Related Reports: LNG Terminals Market Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
25-06-2025
- Business
- Yahoo
Lula's Brazil Doubles Down on Oil and Cash
A new offshore oil auction in the Amazon, a major investment in refinery expansion, and an attempt to extract $6.2 billion from the energy industry—this may not sound very appropriate for a government that has made some big net-zero promises. Yet it is exactly what the Lula da Silva government in Brazil is doing. South America's biggest country produces around 3.5 million barrels of crude daily. It also recently auctioned 19 blocks in the Foz do Amazonas basin, part of the Equatorial Basin and a highly sensitive ecosystem, according to environmentalists. Their opposition, however, did not stop the auction, which featured successful bidders such as Exxon, Chevron, and China's CNPC, in addition to Brazil's own state energy major, Petrobras. The Equatorial Basin includes three basins: Foz do Amazonas, Pará-Maranhão, and Barreirinhas. The area is estimated to hold large oil and gas reserves and is expected to share geology with that of Guyana's offshore, where Exxon is finding billions of barrels of oil and is developing half a dozen projects. Some in Brazil believe it could be the next presalt zone in terms of production. Meanwhile, Brazil last year updated its reserve estimates, now seeing its proven oil wealth at some 16.8 billion barrels as of 2024, which was up 5.92% on the previous year. The reserve replacement rate in the biggest South American oil producer was also exemplary, at over 176%. And yet, Brazil wants to be a net-zero country by 2050 and reduce its emissions by between 59% and 67% by 2030. In the meantime, it's expanding a all about energy supply security. The Abreau e Lima refinery is getting $900 million to boost its capacity to 260,000 barrels of crude daily. This will increase local diesel fuel production, reducing dependency on imports. So will new oil exploration in the Fox do Amazonas: Brazil may produce around 3.5 million bpd and consume 2.57 million bpd but it does not have the refineries equipped to process all the crude it produces locally. So it has to import some crude in what looks like a bit of a paradoxical situation. Yet it is also about money. The oil industry in Brazil makes a lot of money—when the market is good—and the net-zero enthusiastic government wants a bigger portion of that. Earlier this month, Bloomberg reported that the government was looking to boost its income from the energy industry by a substantial $6.2 billion, either by 'reviewing' the reference oil prices used to set taxes or by selling even more exploration licenses. Issuing more exploration licenses would be a safer option, but it wouldn't guarantee more income, based on some underwhelming exploration results in the presalt zone, which is currently the most prolific producing region in Brazil. Yet changing the reference price for oil tax calculation could be trickier, leading to lower income for oil producers and consequently dampening the appetite for expansion in the country's oil sector. We are seeing this happen in real time in the UK. Yet there's also another source of oil money in Brazil, and President Lula da Silva is eyeing it to prop up his popularity. In the middle of February, a poll showed that approval of Lula's government dropped to 24% from 35% in December—a record low during any of Lula's three terms in office as president of Brazil. To fix this, the government is planning to spend some of the $3.5 billion accumulated in an oil royalty fund that was set up back in 2010. So, Brazil wants to become greener, but it also wants to become more self-sufficient in energy, and for that, it needs more oil. At least it has acknowledged this need, unlike places like the UK, which are trying to juggle the mutually exclusive goals of killing their own energy industry while boosting energy security. By Irina Slav for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Indian Express
24-06-2025
- Business
- Indian Express
What are China's economic interests in Iran?
China, one of Iran's closest allies and the biggest buyer of its oil, has stayed on the sidelines of its conflict with Israel, urging a diplomatic solution. Beijing has long backed US-sanctioned Tehran as part of efforts to deepen its strategic and economic heft in the Middle East. In 2021, they signed a 25-year cooperation deal, though full details were never disclosed and analysts say follow-up implementation has been weak. However, Chinese investment in Iran lags what Beijing puts into other nations in the region. 'Chinese state-owned companies have largely stayed away, mostly out of fear of running afoul of US sanctions,' said Bill Figueroa, a China-Middle East expert at the University of Groningen in the Netherlands. The American Enterprise Institute estimates total Chinese investment since 2007 at just under $5 billion, while Chinese commerce ministry data shows its direct investments in Iran by the end of 2023 totalled $3.9 billion. By contrast, Beijing invested more than $8.1 billion in the United Arab Emirates between 2013-2022, and almost $15 billion in Saudi Arabia between 2007-2024, the think-tank says. China imports around 43 million barrels of oil per month from Iran – accounting for some 90% of Iran's oil exports and roughly 13.6% of China's crude purchases. Around 65% of total crude and condensate shipped through the Strait of Hormuz off Iran is destined for China, according to shipping data firm Vortexa. China National Petroleum Corp (CNPC) in 2016 signed a $4.8 billion deal with France's Total to develop the offshore South Pars gas field in the Gulf with an Iranian state firm. CNPC's stake of 30% was worth around $600 million. However, the state-owned petroleum giant pulled out of the project due to US pressure in 2019. CNPC also signed a deal in 2009 to develop the North Azadegan oil field, with the first phase valued at about $2 billion. The first cargo of 2 million barrels was shipped to China in 2016. China's biggest refiner Sinopec signed a $2 billion deal to develop the Yadavaran oil field in 2007. In 2017, Sinopec signed a contract worth about $2.1 billion to upgrade a refinery in Abadan near the Gulf coast. It remains under construction. In 2024, China's LDK Solar reached a deal with Iran's Ghadir Investment Group for a large-scale photovoltaic power plant with investment of around 1 billion euros ($1.16 billion). It was expected to generate 2 billion kilowatt-hours of solar power annually. In 2018, China National Machinery Industry Corporation signed a 5.3 billion yuan ($738 million) deal to expand and renovate a railway connecting Tehran with the cites of Hamedan and Sanandaj to improve connectivity in west Iran. Also that year, a subsidiary of China Railway Construction Corporation signed a contract worth 3.5 billion yuan for the 263 km Kermanshah-Khosravi railway project in west Iran, with a construction period of 48 months. China's Norinco International signed an agreement in 2018 to build the first tramway line in the Iranian city of Qazvin, at about $150 million. In 2017, China Eximbank and an Iranian state bank signed a $1.5 billion deal to upgrade and electrify a 926 km railway between Tehran and the eastern city of Mashhad as part of Beijing's Belt and Road Initiative. However, the project has stalled over financing negotiations. In 2017, China's Metallurgical Corporation (MCC) invested around $350 million in the Sepid Dasht steel plant and won a design contract for a pelletising project. However, local media reported that the projects were delayed by financing issues. ($1 = 7.1783 Chinese yuan renminbi) ($1 = 0.8623 euros)
Straits Times
24-06-2025
- Business
- Straits Times
What are China's economic interests in Iran?
China has stayed on the sidelines of Iran's conflict with Israel, urging a diplomatic solution. PHOTO: AFP BEIJING - China, one of Iran's closest allies and the biggest buyer of its oil, has stayed on the sidelines of its conflict with Israel, urging a diplomatic solution. Following are details of its investments in Iran. Cooperation pact Beijing has long backed US-sanctioned Tehran as part of efforts to deepen its strategic and economic heft in the Middle East. In 2021, they signed a 25-year cooperation deal, though full details were never disclosed and analysts say follow-up implementation has been weak. However, Chinese investment in Iran lags behind what Beijing puts into other nations in the region. 'Chinese state-owned companies have largely stayed away, mostly out of fear of running afoul of US sanctions,' said Dr Bill Figueroa, a China-Middle East expert at the University of Groningen in the Netherlands. The American Enterprise Institute estimated that total Chinese investment since 2007 at just under US$5 billion (S$6.4 billion), while Chinese commerce ministry data shows its direct investments in Iran by the end of 2023 totalled US$3.9 billion. In contrast, Beijing invested more than US$8.1 billion in the United Arab Emirates between 2013 and 2022, and almost US$15 billion in Saudi Arabia between 2007 and 2024, the think-tank said. Energy China imports around 43 million barrels of oil per month from Iran – accounting for some 90 per cent of Iran's oil exports and roughly 13.6 per cent of China's crude purchases. Around 65 per cent of total crude and condensate shipped through the Strait of Hormuz off Iran is destined for China, according to shipping data firm Vortexa. China National Petroleum Corp (CNPC) in 2016 signed a US$4.8 billion deal with France's Total to develop the offshore South Pars gas field in the Gulf with an Iranian state firm. CNPC's stake of 30 per cent was worth around US$600 million. However, the state-owned petroleum giant pulled out of the project due to US pressure in 2019. CNPC also signed a deal in 2009 to develop the North Azadegan oil field, with the first phase valued at about US$2 billion. The first cargo of 2 million barrels was shipped to China in 2016. China's biggest refiner Sinopec signed a US$2 billion deal to develop the Yadavaran oil field in 2007. In 2017, Sinopec signed a contract worth about US$2.1 billion to upgrade a refinery in Abadan near the Gulf coast. It remains under construction. In 2024, China's LDK Solar reached a deal with Iran's Ghadir Investment Group for a large-scale photovoltaic power plant with investment of around €1 billion (S$1.49 billion). It was expected to generate 2 billion kilowatt-hours of solar power annually. Railways In 2018, China National Machinery Industry Corporation signed a 5.3 billion yuan (S$945 million) deal to expand and renovate a railway connecting Tehran with the cites of Hamedan and Sanandaj to improve connectivity in west Iran. Also that year, a subsidiary of China Railway Construction Corporation signed a contract worth 3.5 billion yuan for the 263 km Kermanshah-Khosravi railway project in west Iran, with a construction period of 48 months. China's Norinco International signed an agreement in 2018 to build the first tramway line in the Iranian city of Qazvin, at about US$150 million. In 2017, China Eximbank and an Iranian state bank signed a US$1.5 billion deal to upgrade and electrify a 926km railway between Tehran and the eastern city of Mashhad as part of Beijing's Belt and Road Initiative. However, the project has stalled over financing negotiations. Metals In 2017, China's Metallurgical Corporation invested around US$350 million in the Sepid Dasht steel plant and won a design contract for a pelletising project. However, local media reported that the projects were delayed by financing issues. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Time of India
24-06-2025
- Business
- Time of India
What are China's economic interests in Iran?
China , one of Iran's closest allies and the biggest buyer of its oil, has stayed on the sidelines of its conflict with Israel , urging a diplomatic solution. Following are details of its investments in Iran: Cooperation Pact: by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo Beijing has long backed U.S.-sanctioned Tehran as part of efforts to deepen its strategic and economic heft in the Middle East . In 2021, they signed a 25-year cooperation deal, though full details were never disclosed and analysts say follow-up implementation has been weak. However, Chinese investment in Iran lags what Beijing puts into other nations in the region. Live Events "Chinese state-owned companies have largely stayed away, mostly out of fear of running afoul of U.S. sanctions," said Bill Figueroa, a China-Middle East expert at the University of Groningen in the Netherlands. The American Enterprise Institute estimates total Chinese investment since 2007 at just under $5 billion, while Chinese commerce ministry data shows its direct investments in Iran by the end of 2023 totalled $3.9 billion. By contrast, Beijing invested more than $8.1 billion in the United Arab Emirates between 2013-2022, and almost $15 billion in Saudi Arabia between 2007-2024, the think-tank says. Energy: China imports around 43 million barrels of oil per month from Iran - accounting for some 90% of Iran's oil exports and roughly 13.6% of China's crude purchases. Around 65% of total crude and condensate shipped through the Strait of Hormuz off Iran is destined for China, according to shipping data firm Vortexa. China National Petroleum Corp (CNPC) in 2016 signed a $4.8 billion deal with France's Total to develop the offshore South Pars gas field in the Gulf with an Iranian state firm. CNPC's stake of 30% was worth around $600 million. However, the state-owned petroleum giant pulled out of the project due to U.S. pressure in 2019. CNPC also signed a deal in 2009 to develop the North Azadegan oil field, with the first phase valued at about $2 billion. The first cargo of 2 million barrels was shipped to China in 2016. China's biggest refiner Sinopec signed a $2 billion deal to develop the Yadavaran oil field in 2007. In 2017, Sinopec signed a contract worth about $2.1 billion to upgrade a refinery in Abadan near the Gulf coast. It remains under construction. In 2024, China's LDK Solar reached a deal with Iran's Ghadir Investment Group for a large-scale photovoltaic power plant with investment of around 1 billion euros ($1.16 billion). It was expected to generate 2 billion kilowatt-hours of solar power annually. Railways: In 2018, China National Machinery Industry Corporation signed a 5.3 billion yuan ($738 million) deal to expand and renovate a railway connecting Tehran with the cites of Hamedan and Sanandaj to improve connectivity in west Iran. Also that year, a subsidiary of China Railway Construction Corporation signed a contract worth 3.5 billion yuan for the 263 km Kermanshah-Khosravi railway project in west Iran, with a construction period of 48 months. China's Norinco International signed an agreement in 2018 to build the first tramway line in the Iranian city of Qazvin, at about $150 million. In 2017, China Eximbank and an Iranian state bank signed a $1.5 billion deal to upgrade and electrify a 926 km railway between Tehran and the eastern city of Mashhad as part of Beijing's Belt and Road Initiative. However, the project has stalled over financing negotiations. Metals: In 2017, China's Metallurgical Corporation (MCC) invested around $350 million in the Sepid Dasht steel plant and won a design contract for a pelletising project. However, local media reported that the projects were delayed by financing issues. ($1 = 7.1783 Chinese yuan renminbi) ($1 = 0.8623 euros)
