Market research Future Oil and Gas Storage Market Share, Size. | Page 4

Oil and gas storage market Research Report- Forecast to 2023
3 Market Research Analysis
Natural gas storage is expected to dominate the market in terms of product type. With gas being
increasingly used for providing domestic heating in North America and Europe regions, storing gas for
winter season demand is of prime importance to the countries in the region. Countries are eager to take
advantage of the price drop of natural gas and are procuring it more than the required demand. This
procured gas has to be stored so that it can be used again in the state of winter season demand. Natural gas
is stored in underground inventory such as depleted reservoirs in oil and/or natural gas fields, aquifers, and
salt cavern formations. Liquefied natural gas is stored in liquid or gaseous forms above ground.
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