The global oil & gas industry experienced a 9% decline in the number of lng-related patent applications in Q2 2024 compared with the previous quarter. The total number of lng-related grants rose by 9% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Oil & Gas: Patents Trends Q2 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of lng-related patent applications in the oil & gas industry was 423 in Q2 2024, versus 464 in the prior quarter.
The top five companies accounted for 28% of patenting activity
Analysis of patenting activity by companies shows that Gaztransport & Technigaz filed the most lng patents within the oil & gas industry in Q2 2024. The company filed 59 lng-related patents in the quarter, compared with 40 in the previous quarter. It was followed by Air Liquide with 19 lng patent filings, Airbus (16 filings), and Air Products and Chemicals (14 filings) in Q2 2024.
Patenting activity was driven by China with a 20% share of total patent filings
The largest share of lng related patent filings in the oil & gas industry in Q2 2024 was in China with 20%, followed by the US (16%) and France (8%). The share represented by China was 1% lower than the 21% share it accounted for in Q1 2024.
For further understanding of GlobalData's Oil & Gas: Patents Trends Q2 2024, buy the databook here.
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