Coal Bed Methane Market - Forecast 2022 - 2027

Coal Bed Methane Market Overview

The Coal Bed Methane?Market size is forecast to reach US$16.5 billion by 2027, after growing at a CAGR of 5.5% during the forecast period (2022-2027).?Coal bed methane (CBM) is a form of natural gas that is commonly found in coal seams or coal deposits. Coal bed methane is formed during the process of coalification by transforming plant material into coal. It can be considered a clean energy source of natural gas. It is also used as a clean-burning fuel (also known as compressed natural gas) for multiple industrial and domestic uses. It is used for a wide range of applications which include power generation, transportation, manufacturing, and other similar applications. According to NES Fircroft, the Rio Grande LNG project, worth around US$ 15 billion, is currently undergoing development under its subsidiary Rio Grande LNG.

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Key Takeaways

• Power generation application in Coal Bed Methane Market is expected to see the fastest growth, owing to the increasing demand for CBM in the thermal power generation projects.
• Coal bed methane is an alternative form of natural gas that is found in coal seams or coal deposits. It is a clean-burning fuel (compressed natural gas) that can be used for both domestic and industrial purposes.
• North America dominated the Coal Bed Methane Market in 2021, owing to the increasing demand for CBM from the natural gas production sectors of the region.?In October 2021, the US Federal Energy Regulatory Commission (FERC) approved appeals to increase the authorized LNG production at the Sabine Pass and Corpus Christi LNG terminals. The terminals will increase their LNG production by optimizing operations, including production increment, modifications, and maintenance.