The increasing demand for clean energy sources is a key factor driving the coal bed methane market, says Fortune Business Insights in a report, titled “Coal Bed Methane“ Market Size, Share and Global Trend by Extraction Technology (Horizontal Drilling, Hydraulic Fracturing, CO2 Sequestration), By Application (Power Generation, Chemical, Fertilizers, Others) and Geography Forecast till 2028.” The strict regulations for fossil fuels will contribute significantly to the market growth.
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According to the report, coal bed methane is recovered from underground coal resources during the mining operations. The extraction of coal bed methane is carried out using vertical and horizontal drilling into the coal seams and eliminating the water content of the seam gas.
Some of the Major Companies that are Present in the Global Coal Bed Methane Market are:
- BG Group
- Clarke Energy
- Arrow Energy
- Santos Ltd
- Deep Industries Limited
- Origin Energy
- Australia Pacific LNG
- China United Coalbed Methane Corp.
- Oil and Natural Gas Corporation Limited
- and Green Eastern Energy Corporation Limited among others.
Key Market Driver – Clean energy source and low exploration costs
Key Market Restraint – Economic cost of alternatives to the coal bed methane
The power generation segment is expected to witness healthy growth during the forecast period owing to the low penetration of coal bed methane as a feedstock in other applications. By extraction technology, the coal bed methane market is segmented into horizontal drilling, hydraulic fracturing or CO2 sequestration methods. The horizontal drilling method is expected to hold a significant share in the market owing to its other methods for the introduction phase in commercial uses.
For more information in the analysis of Coal Bed Methane Market report https://www.fortunebusinessinsights.com/industry-reports/coal-bed-methane-market-101314
The report provides a comprehensive overview of the coal bed methane market trends and offers information on the industrial developments in the market. It also offers superior insights and provides relevant data, assisting investors and companies to benefit in the long run.
Key Segmental Overview:
1. By Extraction Technology
- Horizontal Drilling
- Hydraulic Fracturing
- CO2 Sequestration
2. By Application
- Power Generation
3. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
Key Industry Developments
- In July 2019, a joint venture between Origin Energy, ConcoPhillips, and Sinopec was awarded a contract from a USD 25 billion project that involves the processing of coal bed methane to liquefied natural gas. Origin Energy with a 37.5% stake in the joint venture will raise USD 943 million through the contract
- In July 2019, the Botswana government has announced its plans to develop a coal bed methane fired power plant. The capacity of the plant is expected to be around 10MW and the plant is likely to generate gross revenue of about USD 10 million per anum
- In October 2018, Reliance Group announced its plans to start the production of coal bed methane from a coal bed methane block which was awarded to the company in the year 2006
Major Table of Content For Coal Bed Methane Market:
- Executive Summary
- Market Dynamics
- Key Insights
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- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
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