Planned Oil and Underground Gas Storage Markets - Global Analysis, Competitive Landscape and Capacity Forecasts to 2015

London, United Kingdom (PressExposure) June 30, 2011 -- Asia Pacific is the largest market for the planned oil storage development to 2015. By 2015, the region's planned oil storage capacity will account for 82.5% of the global planned oil storage capacity.

As of May 2011, 30 countries around the world have plans to develop new oil storage terminals by 2015.

The top five countries in terms of planned oil storage capacity by 2015, accounted for more than threequarters (80.1%) of global planned oil storage capacity addition during the period 2011-2015. By 2015, these top five countries will contribute 83.8% to the global planned oil storage capacity.

The phenomenal economic development of China has resulted in increasing demand for essential resources, particularly oil. Prompted by the growing demand, the government of China has decided to explore ways to ensure its energy security against any possible oil supply inconsistencies. China's planned oil storage accounted for 69.6% share in the global planned oil storage capacity in May 2011 and on the basis of planned projects so far, it is expected that China will have a 65.1% share in the global planned oil storage capacity by 2015.

Russia. This makes the region highly vulnerable to price and supply fluctuations arising due to its overdependence on a single source of gas supply.

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Currently, planned underground gas storage capacity globally is dominated by European countries. In May 2011, Europe's planned underground gas storage capacity addition accounted for 87.5% of the global planned underground gas storage capacity addition during the period 2011-2015.

"Planned Oil and Underground Gas Storage Market - Global Analysis, Competitive Landscape and Capacity Forecasts to 2015", is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the planned oil and underground gas storage market. The report provides information on the global and regional planned oil and underground gas storage capacities and also highlights the key issues and trends in the global oil and underground gas storage market. The research provides an in depth analysis with a focus on planned oil and underground gas storage capacity growth by key companies and countries across various regions globally. The report also highlights the operations of some key planned oil storage terminals and underground gas storage facilities.

Oil & gas storage worldwide is triggered by increasing demand for petroleum products and natural gas and preparedness of world nations against any possible supply inconsistencies or a sudden boost in demand or price fluctuations.

The global planned oil storage capacity will be 94,738.5 thousand cubic meter by 2015, with 100 oil storage terminals planned to be added across 30 countries globally. Planned underground gas storage as of May 2011 was 2,350,559.6 million cubic feet with 115 storage facilities planned to start during the period 2011-2015.

Currently, the UK, Italy, the US and Germany accounts for a major share of the planned underground gas storage capacity addition. For the period 2011-2015, their combined planned gas storage capacity accounted for a 65.5% share in the global planned underground gas storage capacity addition.

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Press Release Submitted On: June 30, 2011 at 7:22 am
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