Capital Investments In Infrastructure Research Articles

Development of Mobility as a Service (MaaS) for intercity travel & rural/island areas: the case study of Greece

The specific features and requirements of island regions and rural areas make Mobility as a Service (MaaS) an attractive and evolving concept in the realm of Intercity/Rural/Island transportation. The primary goal of this research is to provide qualitative insights relative to the added value and development of MaaS for the previously mentioned transport services through a case study from Greece, a country with approximately 250 inhabited islands. In island settings, the primary societal motivation for MaaS is to enhance the accessibility of islands and improve individuals' access to multiple transport services. MaaS is found to have a strong potential to act as an enabler for more efficient transport and better accessibility to remote/island locations, acting in a complementary manner with currently applied “external” measures such as the Greek “Transport Equivalent”. To further assess the potential, development and impact of MaaS a focus group comprised by key-representatives from industry and academia stakeholders is created. The MaaS Ecosystem, as described by the experts, is comprised of the MaaS Provider, all the intercity/rural/island transport providers currently operating in the Greek market, MaaS Enabling entities (associations, regulators, investors, research institutions), the Integration Drivers and the customers. The issue of transport providers’ liability in case of disruptions and existing market regulations constitute, according to the results, an important challenge towards development of an Intercity MaaS, which needs to be addressed by legislative studies in a pan-European level. Most likely user groups for Intercity/Rural/Island MaaS are young people and digitally educated people, whilst less likely patronage groups are the elderly and “vulnerable” population groups. Relative to the external environment, high degree of fragmentation of the intercity transport industry combined by “autonomous” behavior of actors (“silo effect”) appears to be the greatest threat towards MaaS whilst anticipated capital investments in infrastructure and vehicles, which are foreseen in the proxime future, are the greatest opportunities.

Совершенствование грузовой и коммерческой работы на железнодорожном транспорте: концепция и инструментарий

Purpose: The article offers a solution to the problem of low efficiency of freight and commercial work at railway stations with a small loading volume. The goals and objectives of the national project “Digital Economy” and the program “Digital Railway” are considered. The methods of improving freight and commercial work currently used in railway transport to increase the productivity of stations and to increase workload without capital investments in infrastructure are outlined. A prospective algorithm for processing wagons on departure has been formed. The concept of improving the technology of receiving a wagon for transportation is proposed. An intelligent system for receiving wagons for transportation using a neural network has been developed. The results of the development of a program for determining the types of rolling stock in the image are shown. Methods: Methods of analysis, synthesis and neural networks, the theory of automatic control are used. Results: A solution to the problem of increasing the efficiency of the technology of receiving wagons for transportation at stations with insignificant loading volumes is proposed. Practical significance: The introduction of the developed intelligent system at railway stations will improve the quality and speed of commercial inspection when accepting a car for transportation.

Sea level rise exposure assessment of U.S. East Coast cargo container terminals

ABSTRACT Continuity of marine port operations and recovery in the event of disaster and flooding are dependent upon planning for acute or chronic disruptions. Ports are developing the capacity to integrate climate change adaptation with strategic planning and making capital investments in infrastructure. Geospatial risk assessments have demonstrated utility for planning marine port terminal facilities. Such assessments have tended to be coarse and comprehensive (whole port cities) or narrow, site-specific and single-hazard approaches (single terminal or site scale). This study develops a methodology for major container port terminals on the Eastern Seaboard of the United States to advance a screening approach to sea level rise, identify exposure to terminals and associated surface transportation, and enable comparative assessment. The study leverages geospatial data, elevation, imagery, transportation databases, tide gauges, and sea level rise projections. The approach extends prior methods to quantify exposure across multiple ports and terminals. Hypsographs and modelled future tidal flooding are derived for each port. Results highlight the need for port planning to develop GIS, monitor sea level rise trends, engage in integrative assessments, and optimize mitigation and adaptation actions. Results show similarities across yet also differentially increasing threats of relative sea level rise and tidal flooding at individual terminals.

The impact of shale gas development on the U.S economy: Evidence from a quantile autoregressive distributed lag model

The advent of shale gas in economically and commercially viable scale has changed the dynamics of the U.S energy profile making it a net exporter of natural gas. However, despite the growing importance of shale gas, its impact on the economy of US has not been substantially investigated. This creates gaps in the empirical literature of energy economics with limited policy guides for the policy makers and other relevant stakeholders. This paper therefore contributes to the extant literature by examining the impacts of shale gas on economic expansion in the U.S in an augmented framework that includes capital stock and labour as additional variables. With quarterly dataset that covers the period, 2002Q1 to 2019Q1, we employed Cho et al. (2015) [1]’s Quantile Autoregressive Distributed Lag (QARDL) modelling technique to probe the long run relationships between the variables. The results confirm a long-run significant impact of shale gas and capital stock on economic growth of U.S while labour force is found to be a positive but not significant factor in economic growth of the U.S. Investment in capital infrastructure that can enhance the technology of natural gas extraction and fracking is recommended for full optimization of the shale gas consumption. Concerted efforts should also be made, through research and development, to improve the efficiency of labour force.

Management of Food Crop for National Development: Problems and Challenges of Cassava Processing in Nigeria

This article examined the problems and challenges of managing cassava processing in Nigeria. Based on the findings of our study, agricultural policy framework, level of mechanization, infrastructure, agricultural technical experts, and access to capital are the major factors that affect cassava processing in Nigeria, while the challenges are policy inconsistency, high cost of mechanization and inadequate capital investment in infrastructure, inadequate extension agents, as well as stringent credit facility conditions. This study, therefore, concludes that for cassava to play a major role in Nigeria’s national development government must ensure that there is a full exploration of all opportunities that have the potential to yield strong advantage. This could be achieved through a holistic assessment of the cassava process that is geared toward improving the quality of life and well-being of citizens based on Nigeria’s comparative advantage in cassava production and processing.

Criterion of comparative efficiency in planning of the transport network

Currently, there is a significant number of strategic documents that directly or indirectly postulate the priorities for the development of the railroad transport network. This drives the problem of document matching which should result in actual development trajectory. But this requires a thorough per network pre-project research in order to establish the full extent of transport and non-transport effects that are potentially caused by the network project. The paper focuses on formulating the conditions that allow simplifying pre-project evaluation and states that one of the correct ways to simplify evaluation is to use the criterion of comparative efficiency. The hypothesis of this research is that there is a more nuanced way to present capital investments in infrastructure through the aspects of infrastructure operational efficiency. Standard method of time-linear discounting of money flow is insufficient in transport network development projects. A suggested method is illustrated with a real calculation providing rationale for an option that provides powerful after-action for a rationalized project of a new strategic railroad line.

The perspectives of public-private partnership implementation as the instrument of infrastructure development in Ukraine

Infrastructure development stands out among the prime goals of an economy’s social and economic trajectory. Being a major driving force of wellbeing, economic growth strongly depends on infrastructure. An increase in capital investments in infrastructure has a comprehensive positive effect on an economy. Public-private partnership (PPP) is of particular importance for an efficient economic development strategy, especially for that of an emerging economy. Providing for sustainable economic growth is a struggle for emerging economies due to a wide spectrum of negative features they possess such as poor governance, corruption and widespread poverty. Involvement of private investment in terms of PPP leads to a decrease in government expenditures. Creating a favorable environment for PPP precedes a rapid increase in the number of private companies willing to compete for those contracts. Hectic competition expedites the establishment of the market economy, which is a reasonable conclusion to an emerging economy. Competing for a tender coerces private parties to generate as innovative approaches as possible in order to win. Maintaining a constantly increasing share of innovative activity in constructing and operating infrastructure is a viable opportunity to make a highly urbanized area gain a momentum towards more sustainable environment. Being a means of promoting green and smart technologies, PPP enables expediting integration into the global economy. Encouraging PPP facilitates globalization. Widespread utilization of PPP contracts in governmental procurement transfers risks related to construction and maintenance of infrastructure to private parties. Sustaining a creditworthy institutional and regulatory environment mitigates high sensitivity of PPP to crisis and derivative events. Ukraine is highly likely to significantly benefit from PPP. Considering Ukraine’s strong intention to integrate into the European Union, PPP may help to boost infrastructure development. It is recommended for Ukraine to follow the principle of reciprocate motivation in order to succeed in establishing an efficient mechanism of PPP development.

Modeling of train flow handling through a limiting single-track section of the route at the organization of high-speed operation using the existing infrastructure

The article examines the problem of studying the process of handling the opposing train flows through a single track section of the route by modeling for the conditions of organizing high-speed operation while minimizing capital investments in infrastructure. The issue of saving capital investments in infrastructure is especially urgent with the small size of high-speed traffic on non-main lines, including feeder lines for high-speed routes. Significant savings can be ensured by using single-track fixed structures, as well as single-track distances in conditions where the construction of the second main track is associated with a significant increase in cost. However, in this case, an important question arises about the effect of high-speed traffic on the capacity of single-track sections and on the line as a whole. When operating a one-track or two-track section of the route, the issue arises on the adequacy of the capacity level of the junction points from two to one track (one-track section of the route, then the limiting element), and also the possible delays of trains. To investigate the conditions for passing trains through such sections of the route, the Barrier-1 program was developed, which makes it possible to estimate the capacity of the limiting element on the basis of the methods of queuing theory. The model implements an algorithm that does not impose any restrictions on the characteristics of the incoming train flow, which makes it possible to investigate the various conditions for trains to pass through the limiting element (in particular, the regularity or irregularity of the flow, the intervals between trains, the occupation times of the limiting element). The results of modeling the passing of counter traffic flows are displayed in numerical form, as well as in the form of the train traffic schedule, taking into account the increase in time on approaches to the limiting element. The model takes into account the peculiarities of passing the opposing train traffic and allows determining optimal way of passing high-speed and other trains through the limiting element of the route. The calculation is provided using the model and analysis of the capacity of a limiting element of the route for various options of the high-speed trains handling organization, as well as the conditions under which the maximum capacity with the minimum number and delay time (decrease) of trains on approaches to the limiting element.

Bricks-and-mortar and patient safety culture

PurposeBuilding a new hospital requires a major investment in capital infrastructure. The purpose of this paper is to investigate the impact of bricks-and-mortar on patient safety culture before and two years after the move of a large tertiary hospital to a greenfield site. The difference in patient safety perceptions between clinical and non-clinical staff is also explored.Design/methodology/approachThis research uses data collected from the same workforce across two time periods (2013 and 2015) in a large Australian healthcare service. Validated surveys of patient safety culture (n=306 and 246) were analysed using descriptive and inferential statistics.FindingsUsing two-way analysis of variance, the authors found that perceived patient safety culture remains unchanged for staff despite a major relocation and upgrade of services and different perceptions of patient safety culture between staff groups remains the same throughout change.Practical implicationsA dramatic change in physical context, such as moving an entire hospital, made no measurable impact on perceived patient safety culture by major groups of staff. Improving patient safety culture requires more than investment in buildings and infrastructure. Understanding differences in professional perspectives of patient safety culture may inform organisational management approaches, and enhance the targeting of specific strategies.Originality/valueThe authors believe this to be the first empirically based paper that investigates the impact of a large investment into hospital capital and a subsequent relocation of services on clinical and non-clinical staff perceptions of patient safety culture.

Infrastructure development and asset management

Infrastructure, a nation's investment in providing the basic facilities and services to its citizens, often overlooked by them until a bridge collapses, a major highway is closed for repairs or drinking water is shut off because of a break in a 100 year old underground main. Adequate funding for the capital investment in infrastructure is frequently given short shift in a nation's annual budget because there always seems to be a more pressing need to deal with other priorities. However time and time again, deferred funding for highway, bridges and tunnels, both new and existing, has been proven to be costly. These forms of infrastructure play a major role in the economic health of the nation they serve. The smooth and swift flow of goods and services is what business, industry and the populace need to keep healthy and prosperous.

The potential of the Western Balkans in international trade

The last two decades have witnessed massive changes in the global economy, primarily because of the growing influence of China. This change in the global economic structure leads to changes in the trade routes. This raises the question: How can Western Balkan countries take advantage of their geo-strategic position and their planned membership in the European Union to accelerate their economic development? To answer the question, this paper treats future global economic development with special attention to the opportunities that open to the Western Balkan countries - as defined by the European Union: Serbia, Bosnia and Herzegovina, Montenegro, Macedonia and Albania. The paper emphasises the fact that it is necessary to improve the infrastructure through the development of highways, airports, ports and railways. Also, the geo-strategic position of the Balkans opens potential transit routes for important energy projects, given that energy such as natural gas, is transported from the Caucasus, through Turkey, the Balkan countries to central Europe. All of this opens up new possibilities for economic development of the Western Balkans, which may be the key centre for connecting Europe and Asia, as it represent the entrance gate to Europe. But to use this potential, they need to fulfill at least two conditions: massive capital investments in infrastructure and membership in the European Union. Only in this way they can take advantage of the Western Balkan countries - such as low lab our costs, tax incentives and educated workforce.

Remote Sensing in Pre-earthquakes Exploration, Case Study of Zagreb Region, Croatia

Broader region of the Zagreb city is seismotectonically very active. In that region are located several epcentral areas with strong earthquakes. The most active is Medvednica Mountain near Zagreb city. The main cause of these earthquakes is major intersecting faults with longitudinal (NW-SE) and transverse (NE-SW) strike. The LANDSAT digital processed images were used for seismotectonical analysis and registration of different tectonical elements, particularly major faults and ring structures in this region. The earthquake epicentres occurred more often along these faults and at their intersections, which have various orientations. This fact could be valuable for local governments to help in city planning and capital investments in infrastructure and construction. Epicenters are located in particular bordering zones, amongst which are distinctive zones, for example the zone that strikes from Banja Luka (Bosnia), Zagreb (Croatia), Ljubljana (Slovenia) and further towards Tolmezzo in Friuli (Italy). Broader Zagreb region is seismotectonically very active. In that region are located several epicentral areas, with strong earthquakes. The most active is Medvednica Mountain near Zagreb city. The main cause of these earthquakes is major intersecting faults with longitudinal and transverse strike. The Landsat satellite digital processed images were used for seismotectonical analysis and registration of major faults and ring structures in this region. The stronger earthquake epicentres, instrumentally registered, occurred more often along these faults and at their intersections, which have various orientations. That has been showed on so created tectonic map.

Investing in Ontario's Infrastructure for Economic Growth and Prosperity

This paper documents the potential employment and other value-added benefits of infrastructure investments in Ontario. In particular, it details the impact of infrastructure investment as a counter-cyclical fiscal policy tool. A review of the recent literature reveals that infrastructure investment serves both as a tool for job creation and as a stimulus for the economy as a whole. During recessionary times infrastructure investments have been able to boost the economy and have served as a primary job creation tool, especially when the private sector investments have dried up. At the same time, these investments have produced the infrastructure necessary to support future economic growth. Published research also revealed that the input-output models have been the preferred tool to capture the relationship between infrastructure investments and their impact on economy. Thus, the primary aim of this paper is to illustrate the impact of infrastructure investment on job creation, GDP, and tax revenue in the Province of Ontario using an input-output model. The paper documents the results of a simulation exercise, using an input-output model of the Ontario economy based on a 2008 industry structure that estimated the economic impact of a $12-billion public sector (government) investment in non-residential building and engineering construction in Ontario. This infrastructure investment is estimated to have a $38.4-billion impact on the province’s economy. The $12-billion investment would create an estimated 203,000 jobs (person-years of employment) in the provincial economy, generate an estimated $10 billion in employment income and increase the provincial GDP by an estimated $18.5 billion. This investment would also generate an estimated $668.7 million in corporate taxes and $161.2 in personal income taxes. When the impacts are normalized to a $1-billion stimulus, the IO simulations revealed that during the 2008 recessionary period in Ontario, every billion dollar invested in non-residential building and engineering construction would create almost 17,000 new jobs. Of those, the model estimated 3,050 jobs in direct impact, 2,850 jobs in indirect impact, and 11,000 jobs in induced impact. These benefits are in addition to the longer term direct benefits of infrastructure investments that would result from the use of new or rehabilitated infrastructure. For instance, a $12-billion investment in transportation infrastructure could result in a significant improvement in accessibility and mobility in the region, and related improvements in labour and business productivity. The above-mentioned monetized impacts of infrastructure investments, however, are above and beyond the positive impacts on accessibility and productivity. Finally, the paper reviews transportation infrastructure plans for the Greater Toronto and Hamilton Area (GTHA) and discusses the investment tools identified recently by various agencies. The paper concludes that public-private partnerships for infrastructure development will promote greater use of private capital in the construction and development of public infrastructure. User fees and those taxes that are likely to modify consumer behaviour are recommended as the preferred tools for revenue generation to support the construction of new infrastructure. We recommend that sufficient funds should be made available for infrastructure development and renewal in Canada to maintain the competitiveness of Canadian businesses. The opportunity cost of not spending now reduces the productive capacity of the economy in the future, especially when public capital investments in infrastructure have the potential to generate immediate and substantial productivity gains.

Are we risking too much? Estimating the risk-mitigating benefit of urban water supply augmentation options

Increasing population is leading to water shortfalls in urban areas across the world. Shortfalls are intensified in arid and semi-arid regions under climate change through reduced and highly variable rainfall and greater frequency of droughts. Water planners are increasingly considering investments in capital infrastructure to enhance water security. Augmentation involves high capital sunk costs, and a typical challenge that arises is the need to determine whether or not, and at what scale, to invest in augmentation. Water planners face a risk of over- and under-investing in augmentation, but assessments that represent the tradeoffs involved in making augmentation decisions accurately and comprehensively are scarce. The analytical framework presented in this paper, looks retrospectively at what the insurance value of a seawater desalination plant in Adelaide would have been, had the investment been a decade earlier than it was, to illustrate assessing the risk of over- or under-investing in augmentation. The framework draws from three concepts: benefit cost analysis (BCA), probability theory, and conditional value at risk (CVaR). Results show that, at best, had the desalinisation plant been operational during the recent millennium drought, from 1998 to 2010, potential net annual cost of up to a maximum of A$170.6 m in extreme shortfall years, would have been avoided, but this would have involved incurring annual cost of up to A$149.0 m in years of no shortfalls.

Expression of erythropoietin in Indian tetraploid potato variety

With the advent of protein-based biotech drugs in the market, the quest for the “perfect” protein expression system, which is both economical and effective, has come into focus. Currently bacteria, yeast, insect cells, mammalian cells, transgenic animal and transgenic plants are widely used for the expression of therapeutic proteins. Among these, transgenic plants provide advantages in terms of low production cost, lower capital investment in infrastructure, and suitable post-translational modifications. The major limitation of plants as an expression host is the low level of transgene expression. To increase the expression of heterologous proteins in plants, a number of approaches have been used. One of the approaches is to increase the transgene expression by using tissue-specific promoter(s) which can concentrate the protein of interest in targeted tissues and, thus, prove advantageous in downstream purification. In the present report, a protocol for expression of heterologous protein erythropoietin in potato tuber using patatin, the tuber-tissue-specific promoter, was standardized. Expression vectors for production of the erythropoietin gene under tissue-specific promoter were successfully constructed. For production of a transgenic plant, tissue culture techniques for regeneration of the whole plant from single explants were standardized. Polymerase chain reaction (PCR) analysis was performed to confirm the stable integration of the erythropoietin gene in the potato plant by using sequence-specific primers.

Expression of erythropoietin in Indian tetraploid potato variety

With the advent of protein-based biotech drugs in the market, the quest for the “perfect” protein expression system, which is both economical and effective, has come into focus. Currently bacteria, yeast, insect cells, mammalian cells, transgenic animal and transgenic plants are widely used for the expression of therapeutic proteins. Among these, transgenic plants provide advantages in terms of low production cost, lower capital investment in infrastructure, and suitable post-translational modifications. The major limitation of plants as an expression host is the low level of transgene expression. To increase the expression of heterologous proteins in plants, a number of approaches have been used. One of the approaches is to increase the transgene expression by using tissue-specific promoter(s) which can concentrate the protein of interest in targeted tissues and, thus, prove advantageous in downstream purification. In the present report, a protocol for expression of heterologous protein erythropoietin in potato tuber using patatin, the tuber-tissue-specific promoter, was standardized. Expression vectors for production of the erythropoietin gene under tissue-specific promoter were successfully constructed. For production of a transgenic plant, tissue culture techniques for regeneration of the whole plant from single explants were standardized. Polymerase chain reaction (PCR) analysis was performed to confirm the stable integration of the erythropoietin gene in the potato plant by using sequence-specific primers.

Feasibility of discontinuous electrification on the Great Western Main Line determined by train simulation

The UK has a number of main line railway routes that are not yet electrified. Some of these routes are under active consideration for electrification and the UK Government has recently announced the electrification of the Great Western Main Line (GWML). Railway electrification requires a large capital investment in infrastructure. Areas with limited clearance, such as tunnels and sections through overbridges, are particularly expensive to electrify. In this paper, train performance on the GWML, from London Paddington to Cardiff and vice versa, is modelled for three cases: no electrification; full electrification; and electrification that does not include tunnels, most notably the Severn Tunnel. The modelled trains were: the High Speed Train hauled by pairs of Class 43 diesel-electric locomotives; the nine-car Class 390; and Intercity Express Programme (IEP) trains formed as straight electric or bi-mode multiple units. Bi-mode trains combine electric and diesel traction in the same train. The considered IEP trains included both five-car and eight-car bi-mode options. Journey time, energy consumption and CO2 emissions were determined in each case. Electrification of the route will result in a reduction in energy consumption, carbon emissions and journey time, with the longest trains offering the greatest benefit. Under normal conditions, all modelled trains were able to complete the journey under discontinuous electrification. However, a small reduction in entry speed into the Severn Tunnel resulted in stalling of the exclusively electric trains. Bi-mode rail vehicles completed the journey in all cases and, as to be expected, also when tunnel entry speed is reduced; journey time, energy consumption and carbon emissions are not majorly impacted compared to exclusively electric operation.

On the dynamics of competing energy sources

We characterize the dynamics of energy markets in which energy is derived from polluting (fossil) and clean (solar) resources. The analysis is based on geometric optimal control considerations. An important feature of solar energy technologies is that their cost of supply is predominantly due to upfront investment in capital infrastructure (rather than to actual supply rate) and this feature has important implications for the market allocation outcome. In particular, it gives rise to a threshold behavior in that solar energy is adopted only when the price of fossil energy exceeds a certain threshold. Under this condition solar technologies will (eventually) dominate energy supply by driving fossil energy altogether out of the energy sector. A tax on fossil energy can have a substantial impact since it changes the threshold price. A quantity restriction (e.g., a cap on fossil energy) allows for the coexistence of clean and polluting energy technologies also in the long run, and its effect on the use of fossil energy is more moderate.

Investing in Developed Country Private Infrastructure Funds

Infrastructure investment encompasses multiple sectors, geographies, stages, and investment instruments/ products each with their own risk/return attributes. This broad range makes it a versatile asset permitting its consideration in diverse tailored portfolios. Infrastructure has traditionally been under the purview of governmental bodies. Its importance from a public interest perspective cannot be overstated. For several reasons, there has been globally widespread historical under-investment, resulting in degradation of existing assets with simultaneous failure to add new capacity. As this issue is unlikely to reverse course any time soon, forward thinking countries and government entities have sought to encourage convergence of public and private sector activity. Their aim is to help the creation of economically viable new infrastructure assets and upgrade, properly maintain, manage and operate existing ones. Formal contracting structures through active PPPs supported by recent government initiatives have made progress in encouraging private capital investment in infrastructure. A lot still remains to be done. Despite where they stand in the different stages of the privatization process, the collective market opportunity in developed countries remains substantial. These opportunities are in civil aviation, bridges, roads, mass transit, railways, greenfield and brownfield projects, dams, water, waste management and energy. From an alternative investment perspective, infrastructure assets exhibit different risk and return profiles from other private investments; they can be a source of both alpha as well as a valuable diversification tool in portfolio construction. They provide exposure through both illiquid long-term private vehicles as well as liquid publicly traded funds. This versatility makes them extremely attractive for different investor segments.

The state of natural gas

As global energy demand rises, natural gas now plays an important strategic role in energy supply. It is more difficult to transport and store gas than oil and consequently it lagged behind that commodity for a considerable period. Over the last couple of decades this has changed and gas markets continue to expand more rapidly than those of other fossil fuels. Natural gas is the cleanest and most hydrogen-rich of all the hydrocarbon energy sources and it has high energy conversion efficiencies for power generation. Of more significance is that gas resources discovered but as yet unexploited remain plentiful. The sector is poised for considerable growth over the next two decades and some believe that it may even overtake oil as the prime fuel between 2020 and 2030. The trend towards natural gas becoming the premium fuel of the world economy is not now easily reversible. The key and the challenge for the energy industry is how that transition is to be managed. We examine in this paper sources of natural gas, their limitations and potential. We also identify the technological and commercial challenges to be overcome in taking the world through the transition. There is a fundamental turn towards natural gas which today accounts for about 23% of the world energy demand. Large capital investments in infrastructure to enable increased gas consumption are being made on both demand and supply sides. Several gas-producing countries have embarked upon very ambitious plans for markedly increased gas output. Many new LNG facilities are being built supply chains diversifying and becoming ever more flexible. There is a growing recognition that unconventional sources of gas, such as shale gas, coal bed methane (CBM) and deep tight gas will contribute a significant component of future gas supplies as technologies evolve. Other gas conversion technologies such as GTL and CNG are attracting more serious attention, but energy efficiency, cost and cost inflation remain barriers for these promising alternatives. Natural gas is also competing strongly with other fossil fuels from an efficiency and emissions perspective as the fuel of choice for power generation. However, gas price volatility and security of supply concerns means that some power generators still favor coal and nuclear components in their power generation portfolio. As the cost of carbon emissions have a bigger impact around the world, gas has the potential to increase its share of the power generation market significantly over the coming decade. A rapid growth opportunity exists for natural gas in its potential contribution to transportation either directly or by electrifying the sector. Real and imagined environmental concerns and restricted access for OECD nations to long-term oil reserves are expected to accelerate the emergence of hydrogen fuel cells. Currently available technologies dictate that the most commercially viable source of hydrogen in large quantities is natural gas, particularly methane through the reforming processes that yield synthesis gas (i.e. carbon monoxide and hydrogen). Current technologies, investments and consumption trends suggest that natural gas will be at the center of a worldwide transformation resulting in a greatly expanded market share of gas in the energy mix for power generation, space heating, petrochemical feedstocks and transportation fuels (e.g. natural gas vehicles are now on the agenda for both energy efficiency and lower emissions reasons).