Lots of Natural Gas, but No Storage Standards

  • Global gas production is growing rapidly. In fact, while oil production has surged more than 60 percent in the last four decades, gas production has increased by 200 percent over the same period. As this trend continues, it is critical for producers and policymakers to examine the key issues surrounding gas storage.
  • Storing natural gas is much more complicated than storing oil. Every stage of the value chain is pressurized, and loss of pressure at any point can lead to tragic consequences. As such, gas storage is more expensive to construct than oil storage facilities.
  • Unlike oil, there is no international standard for gas storage. European and Asian countries in particular need to plan to secure future gas supplies as they increase gas consumption and try to diversify their fuel mix away from oil.