The oil and gas industry continues to be a hotbed of innovation, with activity driven by the need for more efficient production, safety improvements and long-term sustainability. The industry is pursuing a clean energy transition, alongside which there has been a growing interest in technologies such as green hydrogen, fuel cells, and carbon capture and storage (CCS). In the last three years alone, there have been over 534,000 patents filed and granted in the oil and gas industry, according to GlobalData’s report on Energy Storage in Oil & Gas: Pressurized cryogenic gas storage.

According to GlobalData’s Technology Foresights, which uses over 256,000 patents to analyse innovation intensity for the oil and gas industry, there are 40+ innovation areas that will shape the future of the industry. 

Pressurised cryogenic gas storage is a key innovation area in energy storage

Cryogenic tanks/storages are specially designed enclosures to store gaseous material at low temperatures. Pressurised cryogenic gas storages are especially useful when large quantities of gas need to be stored in liquid form. These gases may include liquid oxygen, liquid nitrogen, LNG, LPG, and liquid hydrogen, among others. Cryogenic storage offers efficient use of space and improves the cost of transporting gases.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies.  According to GlobalData, there are 20+ companies, spanning technology vendors, established oil & gas companies, and up-and-coming start-ups engaged in the development and application of pressurised cryogenic gas storage.

Key players in pressurised cryogenic gas storage – a disruptive innovation in the oil & gas industry

‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.

‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.

The leaders in patent filling for pressurized cryogenic gas storage, include Hyundai Heavy Industries , Air Liquide , and ConocoPhillips .

Hyundai Heavy Industries is the world’s largest shipbuilding company. It undertakes the building of different types of vessels, including LNG carriers that have cryogenic tanks onboard for transporting natural gas in liquid form. It has collaborated with oil and gas companies and technology vendors to develop and implement cryogenic storage technology on these carriers.

Air Liquide supplies industrial gases and services to energy companies. It has developed cryogenic technology that can be used for storage of hydrogen, helium, and nitrogen gases.

ConocoPhillips , a prominent exploration and production (E&P) company, has invested in LNG liquefaction projects in Australia and Qatar. It also develops LNG technology, which includes pressurised cryogenic gas storages. Its Optimized Cascade Process for LNG has been licensed to plants across the world.

To further understand the key themes and technologies disrupting the oil & gas industry, access GlobalData’s latest thematic research report on Top 20 Oil & Gas Themes 2022.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.