Liquid Natural Gas

Liquid Natural Gas Market Outlook

The global Liquid Natural Gas (LNG) market is poised for significant growth, with an estimated market size of approximately USD 200 billion in 2023, projected to expand at a compound annual growth rate (CAGR) of around 8% from 2025 to 2035. This growth can be attributed to the increasing demand for cleaner energy sources, the growing industrial applications of LNG, and the expansion of LNG infrastructure across various regions. Moreover, the rising awareness of environmental benefits associated with the use of LNG over traditional fossil fuels is driving market adoption. Furthermore, supportive government policies and investment in LNG terminals and transport networks are fostering a conducive environment for market growth. The ongoing geopolitical tensions and the need for energy security are also playing a critical role in escalating LNG demand globally.

Growth Factor of the Market

Several growth factors are propelling the Liquid Natural Gas market forward. Firstly, the transition towards cleaner energy solutions is one of the most prominent factors, as more countries are committing to reducing carbon emissions and enhancing energy efficiency. LNG, being a cleaner alternative to coal and oil, aligns with these global sustainability targets, thus attracting investment and interest from various sectors. Secondly, the increasing consumption of natural gas in power generation and industrial applications is augmenting LNG demand. Additionally, the rising population and urbanization trends are leading to an uptick in energy consumption, which further propels the need for LNG. Thirdly, advancements in liquefaction technologies are enhancing the feasibility and efficiency of LNG projects, making them more economical to operate. Lastly, the development of international trade routes for LNG is facilitating market entry and growth in regions with previously limited access to natural gas supplies, thereby creating a more balanced energy landscape.

Key Highlights of the Market

• The global LNG market is projected to grow at a CAGR of 8% from 2025 to 2035.
• Increased investment in LNG infrastructure, including liquefaction and regasification terminals.
• Growing emphasis on reducing carbon footprints by transitioning from coal to natural gas.
• Expansion of LNG trade routes and agreements enhancing global supply chains.
• Innovation in storage technologies and transportation logistics contributing to market efficiency.

By Type

Liquefaction:

Liquefaction processes are pivotal in converting natural gas into LNG, allowing for easier storage and transportation. The liquefaction segment has experienced substantial growth due to rising global demand for natural gas, especially in regions where pipeline transportation is not feasible. The advancement of liquefaction technologies has significantly reduced costs and improved efficiency, making LNG more competitive compared to other energy sources. Furthermore, many countries are developing new liquefaction facilities to cater to the growing international market, which is bolstering this segment's growth. The increasing investments in liquefaction plants, especially in the United States and Australia, have positioned them as key players in the global LNG supply chain. As countries aim to diversify their energy portfolios, the liquefaction segment is expected to witness continuous advancements and expansions in the coming years.

Transportation:

The transportation segment of the LNG market plays a critical role in ensuring that liquefied natural gas reaches its end-users efficiently and safely. This segment includes specialized LNG carriers, which are designed to transport LNG over long distances. The growth in this segment is primarily driven by the increasing international trade of liquefied natural gas, particularly between major producers like Qatar, the United States, and Australia, and importers across Asia and Europe. Moreover, the development of new shipping routes and the improvement in port infrastructure are facilitating smoother transportation of LNG. Investment in advanced LNG carrier technologies, such as dual-fuel engines and improved hull designs, is enhancing the efficiency and sustainability of LNG transport. As the demand for LNG continues to rise, the transportation segment will remain a crucial component of the overall LNG market.

Regasification:

Regasification is a vital process that converts LNG back into its gaseous state for distribution and consumption. This segment has seen significant demand with the rising number of regasification terminals being built around the world, particularly in Asia and Europe, where LNG consumption is surging. The increasing reliance on LNG as a cleaner alternative to coal and oil in power generation and industrial processes is accelerating the need for regasification facilities. Moreover, technological advancements in regasification processes, such as floating regasification units, provide flexibility and enable countries to import LNG without the need for extensive onshore infrastructure. As natural gas becomes a preferred choice for energy generation and industrial use, the regasification segment is expected to expand, providing a critical link between LNG supply and demand.

Storage:

The storage segment of the LNG market is essential for ensuring a stable supply of liquefied natural gas, allowing for fluctuations in demand and securing energy reserves. This segment includes various storage types, such as above-ground tanks, underground storage facilities, and floating storage solutions. The increasing need for secure and strategic storage solutions is driven by the growing volume of LNG being traded globally. Above-ground storage tanks are widely used due to their availability and ease of construction, while underground storage provides a level of safety and protection from environmental factors. Floating storage and regasification units (FSRUs) are gaining popularity for their flexibility and ability to respond to dynamic market needs. As LNG trade expands, the storage segment is expected to innovate, adopting new technologies to enhance capacity and reliability.

By Application

Industrial:

The industrial application of LNG is a key segment that encompasses various sectors including manufacturing, processing, and chemical industries. The use of LNG in industrial applications is increasing due to its efficiency and lower emissions compared to traditional fuels, making it an attractive option for industries aiming to meet environmental regulations. Furthermore, LNG is utilized as a feedstock in chemical production, particularly ammonia, which is essential for fertilizers. The growing focus on sustainability and operational efficiency in industries is driving the adoption of LNG as a primary energy source. As industrial sectors continue to modernize and invest in cleaner technologies, the demand for LNG in industrial applications is projected to rise significantly.

Power Generation:

LNG is increasingly being used for power generation, representing a crucial application segment in the energy market. Natural gas-fired power plants are known for their efficiency and lower greenhouse gas emissions compared to coal-fired plants, making LNG an attractive option for electricity generation. The shift towards natural gas in the power sector is being propelled by government initiatives and policies aimed at reducing carbon footprints and enhancing energy security. Additionally, the flexibility of gas-fired plants allows for quick response to changes in electricity demand, making them ideal for balancing intermittent renewable energy sources. As more countries invest in natural gas infrastructure, the power generation segment is expected to witness significant growth in LNG consumption.

Residential:

The residential application of LNG encompasses its use in heating, cooking, and other household energy needs. The increasing adoption of LNG in residential settings is driven by the growing need for clean and efficient energy sources. Natural gas offers a reliable and cost-effective alternative to electricity and traditional fuels for heating and cooking purposes. Moreover, as urbanization increases, the demand for natural gas infrastructure is expanding, allowing more households to access LNG supplies. The trend towards energy-efficient appliances and eco-friendly living further supports the growth of LNG use in residential applications. As the market continues to evolve, residential LNG consumption is projected to increase, aligning with the broader transition to cleaner energy sources.

Commercial:

The commercial application of LNG includes its use in businesses, offices, and retail establishments for heating, cooking, and other energy needs. The shift towards LNG in the commercial sector is primarily driven by the rising energy costs associated with traditional fuels and the need for more sustainable energy solutions. Businesses are increasingly adopting LNG to reduce operational costs and meet environmental regulations. Additionally, commercial kitchens and restaurants are leveraging LNG for its efficiency and lower emissions. As the emphasis on sustainability continues to grow, the demand for LNG in commercial applications is expected to rise significantly, encouraging more businesses to transition to this cleaner energy source.

Transportation:

The transportation application of LNG is gaining traction as the trucking and shipping industries seek cleaner fuels to meet environmental standards. LNG is increasingly being adopted as an alternative fuel for heavy-duty vehicles, offering lower emissions of particulate matter and greenhouse gases compared to diesel. The expansion of LNG fueling stations and infrastructure is facilitating the adoption of LNG in transportation, making it a viable option for fleet operators. Furthermore, LNG's advantages in terms of efficiency and cost-effectiveness are encouraging more logistics companies to transition to this cleaner fuel source. As regulations around emissions tighten and the demand for sustainable practices grows, the transportation segment is expected to witness significant growth in LNG usage.

By User

Utilities:

Utilities play a critical role in the LNG market, primarily as consumers of natural gas for electricity generation and heating. The shift towards cleaner energy sources among utility companies is driving increased consumption of LNG, as it offers a reliable and efficient alternative to coal and oil. Furthermore, many utilities are investing in LNG infrastructure to diversify their energy portfolios and enhance their energy security. The growing need for base-load power generation and the transition towards renewable energies are further propelling LNG adoption in the utilities sector. As more utility companies recognize the benefits of LNG in terms of lower emissions and operational efficiency, the demand from this user segment is expected to rise significantly, supporting the overall growth of the LNG market.

Industrial:

The industrial sector is a significant user of LNG, leveraging it for various applications, including power generation, heating, and as a feedstock for chemical production. Industries are increasingly recognizing the advantages of LNG, such as its cost-effectiveness, reduced emissions, and ability to meet stringent environmental regulations. As industrial processes require a consistent and reliable energy source, LNG is becoming a preferred choice due to its efficiency and flexibility. Additionally, the increasing focus on sustainable practices within the industrial sector is driving the adoption of LNG as companies aim to lower their carbon footprints. This growing trend is expected to propel LNG consumption in the industrial user segment, reinforcing its critical role in the overall market.

Residential:

The residential user segment is witnessing an uptick in LNG consumption as households seek cleaner and more efficient energy solutions for heating, cooking, and other applications. The shift towards LNG is driven by rising energy costs and the need for sustainable living options. Natural gas is becoming increasingly accessible to residential consumers, primarily through expanding LNG infrastructure, allowing more households to benefit from this cleaner energy source. Additionally, as energy-efficient appliances become more popular among residential consumers, the demand for LNG is likely to increase. The potential for LNG to improve energy security and reduce emissions in residential settings is expected to further enhance its appeal to homeowners in the coming years.

Commercial:

The commercial user segment is experiencing growth in LNG adoption as businesses look for cost-effective and eco-friendly energy solutions. LNG is gaining traction among commercial establishments due to its efficiency, lower emissions, and ability to meet operational energy needs. Many restaurants, hotels, and office buildings are transitioning to LNG for cooking, heating, and other energy requirements, driven by rising energy costs and the need for sustainable operations. Furthermore, as more commercial entities recognize the benefits of LNG, such as reduced operational expenses and compliance with environmental regulations, the demand in this segment is expected to grow. The continuous evolution of the energy landscape is likely to propel LNG consumption in commercial settings in the years to come.

By Storage Type

Above-ground:

Above-ground storage is one of the primary methods used to store LNG, offering several advantages such as easy accessibility and the ability to monitor the stored product effectively. Above-ground tanks are commonly used in LNG facilities for both storage and regasification purposes. The growth of this storage type is driven by the rising demand for LNG and the need for enhanced safety measures in storing liquefied natural gas. With increasingly stringent safety regulations, above-ground storage designs have evolved to incorporate advanced materials and technologies, ensuring safe and efficient storage. Furthermore, as LNG infrastructure expands globally, the reliance on above-ground storage solutions will continue to grow to meet market demands.

Underground:

Underground storage of LNG is an emerging and strategic solution for maintaining energy security and managing supply fluctuations. This storage method is typically utilized in cavern formations or aquifers, providing a natural containment system for liquefied natural gas. As the demand for LNG increases, the need for large-scale, long-term storage solutions becomes paramount. Underground storage offers significant advantages, such as reduced risk of evaporation and improved safety characteristics compared to above-ground facilities. The growing trend of integrating underground storage solutions into LNG supply chains is gaining momentum, especially in regions with fluctuating demand patterns, as it allows for better management of inventory and supply logistics.

Floating:

Floating storage solutions, particularly Floating Storage Regasification Units (FSRUs), have gained popularity in recent years as a flexible and cost-effective method for storing and regasifying LNG. FSRUs can be deployed in various locations, enabling countries to import LNG without the need for extensive onshore infrastructure. This adaptability is particularly beneficial for developing nations seeking to access natural gas supplies quickly. The growing preference for cleaner energy sources and the need for energy security are driving the demand for floating storage solutions in the LNG market. Additionally, FSRUs facilitate the rapid deployment of LNG infrastructure, allowing for quicker responses to changing market conditions and energy needs.

By Region

The Asia Pacific region is a dominant player in the global LNG market, accounting for approximately 40% of the total market share in 2023. The region's rapid industrialization, growing energy demands, and increasing investments in LNG infrastructure are key factors driving this growth. Countries like China, Japan, and South Korea are major players in the LNG import market, with continuous efforts to diversify energy sources and reduce carbon emissions. The CAGR for the Asia Pacific LNG market is expected to reach around 9% through 2035, as these countries ramp up their transition to cleaner energy. Additionally, the region's commitment to enhancing energy security through strategic LNG imports is further promoting market expansion.

North America is another significant region in the LNG market, driven primarily by the abundant natural gas reserves in the United States. The US has emerged as one of the leading exporters of LNG due to technological advancements in shale gas extraction and liquefaction processes. This region is forecasted to experience substantial growth, with a CAGR of approximately 7% from 2025 to 2035. The expansion of LNG export terminals and the development of new transport infrastructure are facilitating increased trade volumes. Moreover, the growing demand for LNG in both domestic and international markets is solidifying North America's position in the global LNG landscape, making it a key contender in meeting the world's energy needs.

Opportunities

The Liquid Natural Gas market is replete with opportunities that are ripe for exploration and investment. One of the most significant opportunities lies in the expansion of infrastructure, particularly liquefaction and regasification terminals. As more countries aim to reduce their carbon emissions and transition to cleaner energy sources, the demand for LNG infrastructure is likely to surge. Governments and private investors are now more than ever focused on developing LNG facilities, which will not only enhance market accessibility but also facilitate the growth of the LNG supply chain. Additionally, emerging economies are increasingly recognizing the potential of LNG to satisfy their energy needs, thus presenting a lucrative opportunity for market players to invest in these regions. The increasing collaboration between countries for LNG trade agreements is also expected to create new pathways for expansion and growth within the sector.

Another promising opportunity is the adoption of LNG as a fuel for transportation, particularly in heavy-duty vehicles and shipping. As the global logistics and transportation industries face mounting pressure to reduce emissions, LNG presents a viable solution for cleaner operations. The establishment of LNG fueling stations is critical to supporting this transition, and companies are actively investing in building the necessary infrastructure. Moreover, innovations in LNG transport technologies, such as dual-fuel engines and hybrid models, are enhancing the attractiveness of LNG in the transportation sector. As governments implement stricter regulations around emissions, the shift towards LNG in transportation is expected to accelerate, creating new opportunities for both existing players and new entrants in the market.

Threats

Despite the promising outlook for the Liquid Natural Gas market, several threats could potentially impact its growth trajectory. One of the primary challenges is the volatility of natural gas prices, which can be influenced by various factors, including geopolitical tensions, supply chain disruptions, and fluctuating demand. Such price fluctuations can create uncertainty for investors and market players, leading to hesitance in making long-term commitments to LNG projects. Additionally, there is growing competition from alternative energy sources, such as renewables, which are becoming more cost-competitive and gaining traction in many markets. This shift could divert investments away from LNG in favor of cleaner energy solutions, ultimately impacting the growth of the market. Furthermore, regulatory changes aimed at reducing fossil fuel reliance could pose additional challenges for LNG producers and stakeholders.

Another significant concern in the LNG market is the environmental impact associated with natural gas extraction and transportation. While LNG is marketed as a cleaner alternative to coal and oil, concerns about methane leaks during production and transportation processes could undermine its environmental credentials. The growing focus on sustainability and emissions reduction could lead to increased scrutiny and regulatory measures aimed at mitigating these environmental risks. Additionally, public resistance to fossil fuel projects, including LNG facilities, could hinder new developments and expansions. Stakeholders in the LNG market must proactively address these concerns to maintain public trust and ensure the continued viability of LNG as a key energy source.

Competitor Outlook

• Royal Dutch Shell
• ExxonMobil
• Chevron Corporation
• Qatar Petroleum
• Cheniere Energy Inc.
• TotalEnergies
• Petronas
• NextDecade Corporation
• Engie S.A.
• GasLog Ltd.
• Golar LNG Limited
• Teekay LNG Partners
• Knock Nevis LNG
• Eni SpA
• Sinochem International Corporation

The competitive landscape of the Liquid Natural Gas market is characterized by a mix of established industry giants and emerging players. Major companies such as Royal Dutch Shell, ExxonMobil, and Chevron Corporation dominate the market, leveraging their extensive resources and global reach to secure significant market shares. These corporations are heavily invested in LNG infrastructure development, including liquefaction and regasification terminals, which positions them to capitalize on the growing demand for cleaner energy sources. Additionally, these companies are focused on expanding their LNG portfolios through strategic partnerships and acquisitions, enhancing their competitive edge in the global market.

Emerging players like Cheniere Energy and NextDecade Corporation are also making significant strides in the LNG sector. These companies are primarily focused on developing innovative technologies for liquefaction and transportation, enabling them to offer competitive pricing and efficient services. Their agility and willingness to adapt to changing market dynamics provide them with an advantage in an increasingly competitive landscape. Furthermore, regional players such as Qatar Petroleum and Petronas are solidifying their positions as key LNG exporters, leveraging their vast natural gas reserves and established infrastructure to maintain their market prominence.

Additionally, the market is witnessing a trend towards collaboration and strategic alliances among industry players. Companies are increasingly partnering with technology providers and research institutions to develop advanced solutions for LNG production, storage, and transportation. These collaborations are essential for addressing environmental concerns and improving operational efficiencies, thereby enhancing the overall competitiveness of the LNG market. As the demand for natural gas continues to rise globally, the competitive dynamics within the LNG sector are expected to evolve, leading to increased innovation and further investment in sustainable practices.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Eni SpA
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Petronas
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Engie S.A.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 ExxonMobil
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 GasLog Ltd.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 TotalEnergies
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Knock Nevis LNG
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Qatar Petroleum
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Golar LNG Limited
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Royal Dutch Shell
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Chevron Corporation
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Teekay LNG Partners
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Cheniere Energy Inc.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 NextDecade Corporation
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Sinochem International Corporation
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Liquid Natural Gas Market, By Type
    • 6.1.1 Liquefaction
    • 6.1.2 Transportation
    • 6.1.3 Regasification
    • 6.1.4 Storage
  • 6.2 Liquid Natural Gas Market, By User
    • 6.2.1 Utilities
    • 6.2.2 Industrial
    • 6.2.3 Residential
    • 6.2.4 Commercial
  • 6.3 Liquid Natural Gas Market, By Application
    • 6.3.1 Industrial
    • 6.3.2 Power Generation
    • 6.3.3 Residential
    • 6.3.4 Commercial
    • 6.3.5 Transportation
  • 6.4 Liquid Natural Gas Market, By Storage Type
    • 6.4.1 Above-ground
    • 6.4.2 Underground
    • 6.4.3 Floating

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Liquid Natural Gas Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Liquid Natural Gas market is categorized based on

By Type

• Liquefaction
• Transportation
• Regasification
• Storage

By Application

• Industrial
• Power Generation
• Residential
• Commercial
• Transportation

By User

• Utilities
• Industrial
• Residential
• Commercial

By Storage Type

• Above-ground
• Underground
• Floating

By Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Royal Dutch Shell
• ExxonMobil
• Chevron Corporation
• Qatar Petroleum
• Cheniere Energy Inc.
• TotalEnergies
• Petronas
• NextDecade Corporation
• Engie S.A.
• GasLog Ltd.
• Golar LNG Limited
• Teekay LNG Partners
• Knock Nevis LNG
• Eni SpA
• Sinochem International Corporation