Conversion of natural gas into liquified fuels became viable and feasible due to the 4-th generation of Gas-to-Liquids (GTL) technology. GTL process is producing gasoline, diesel and jet fuel from gas, rather than conventionally from crude oil, benefiting the quality of the fuel by providing high cetane index, higher energy density by weight and no sulfur or aromatics. Such fuel has barely penetrated the energy market but has a great potential to.
“Global Gas-to-Liquids Processes for Chemicals and Energy market accounted for $9.82 billion in 2015 and is expected to reach $15.50 billion by 2022 growing at a CAGR of 6.7%. Rapid increase in energy consumption coupled with ecological regulations related to the clean fuel and increasing price of oil are the foremost drivers for gas to liquid market.”
GTL offers a less costly process for producing fuel with favorable emission characteristics, and the increasing consumption of natural gas, especially in emerging countries such as India, Japan and China acts as the opportunity for gas to fuel market.