In the context of the "two-carbon" target, LNG (liquefied natural gas) is becoming increasingly important as a relatively clean and environmentally friendly energy source. With the rapid development of the LNG industry and the rising demand for LNG storage tanks and LNG shipping, the industry has broad prospects in energy and transportation.

　　Global LNG supply and demand

　　According to the forecast, the growth rate of global natural gas production and consumption from 2020 to 2050 will be around 42%, and the global LNG demand will grow steadily. In recent years, in order to deal with air pollution, countries have made great efforts to increase the proportion of natural gas in primary energy consumption, and the amount of natural gas imported by LNG has been increasing year by year. China's total natural gas consumption will grow by 67%, exceeding pipeline imports by the end of 2018, making it one of the fastest growing countries in the world for LNG demand.

　　In 2022, the LNG market will improve, and the trigger for the crazy growth is undoubtedly the conflict between Russia and Ukraine. Russia is the world's largest natural gas producer, accounting for about 16.5 percent of global output. After the war broke out, the amount of energy Europe received from Russia dropped sharply. As a result, Europe is buying more LNG from the rest of the world.

　　Bulk LNG purchases require LNG ships and tanks that can transport and store LNG at temperatures as low as -163 degrees Celsius. Uetersen New Materials Group continues to develop in the field of LNG thermal insulation materials, committed to research and development investment in LNG thermal insulation materials and market development, the production of glass fiber elastic felt for LNG transportation and storage links, to ensure the safety of LNG transportation and storage.

　　Application of large LNG storage tanks

　　With the increasingly active global LNG production and trade, large LNG storage tanks are the basic facilities for importing and storing LNG, which are being built on a large scale in various countries. As a large energy consuming country, our country attaches great importance to the development of LNG industry. At present, 17 large-scale LNG receiving stations have been completed, and about 50 are under construction or in preparation.

　　Heat insulation of LNG storage tank

　　LNG storage tanks are mainly in the form of single containment tank, double containment tank and full containment tank, all of which are double-layer tanks. The insulation materials between the inner and outer tanks are filled. The main insulation materials include foam glass brick, expanded perlite, glass fiber elastic felt, glass wool, etc.

　　Among them, glass fiber elastic felt, a special insulation material for LNG storage tank, is made of fine glass fiber bonded together in a random direction by a special process. The binder is a special thermosetting resin, made of glass fiber felt has outstanding resilience, tensile strength and other mechanical properties. And widely used in all kinds of storage tanks, equipment insulation and cooling. Uetersen elastic felt is widely used in double wall LNG tanks, LPG tanks, liquid nitrogen tanks, LNG carriers and other projects around the world. We can produce products of various thickness and density according to customers' requirements.

　　Challenges facing the LNG industry

　　The LNG industry is an intermediate process that is influenced by end-user markets and feedstock prices. Amid the uncertainty of global economic development, economic recession, energy demand growth may slow down. LNG industry is in the early stage of development, so it is necessary to correctly understand the problem of overcapacity in stages. And help to solve the upstream and downstream industries related pricing mechanism defects, imperfect development and low import resources and other problems, promote the rapid development of related industries.

　　Risks are inevitable for the LNG industry in the face of an unexpected market surge. Relevant LNG companies must keep a clear mind and clear judgment on this.