The global oil & gas industry experienced a 2% decline in the number of lng-related patent applications in Q2 2023 compared with the previous quarter. The total number of lng-related grants dropped by 9% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s LNG Liquefaction Industry Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries, 2021-2026 report provides granular data on capacity of active, planned, and announced liquefaction terminals, and new build and expansion capital expenditure outlook at global as well as regional level. Buy the report here.
Notably, the number of lng-related patent applications in the oil & gas industry was 416 in Q2 2023, versus 423 in the prior quarter.
The top five companies accounted for 22% of patenting activity
Analysis of patenting activity by companies shows that Engie filed the most lng patents within the oil & gas industry in Q2 2023. The company filed 37 lng-related patents in the quarter, compared with 34 in the previous quarter. It was followed by Air Liquide with 20 lng patent filings, Airbus (16 filings), and Linde (10 filings) in Q2 2023.
Patenting activity was driven by the US with an 18% share of total patent filings
The largest share of lng related patent filings in the oil & gas industry in Q2 2023 was in the US with 18%, followed by China (17%) and South Korea (13%). The share represented by the US was 0.41% lower than the 19% share it accounted for in Q1 2023.
For further understanding of GlobalData's LNG Liquefaction Industry Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries, 2021-2026 buy the report here.