CHART: The Global Rise Of The Natural Gas Vehicles

Sam Ro | Jun. 10, 2013, 6:33 AM | 1,252 |

Folks like oil man T. Boone Pickens have been big advocates of getting a natural gas vehicle (NGV) infrastructure in the U.S.

Unfortunately, that really hasn't gotten off of the ground.

However, natural gas vehicles are booming in Asia and in particular China, where the right incentives seem to be in place.

Here's Citi:

Asia over the past decade has grown to become the largest NGV market, led by Pakistan, Iran and India, with China surging ahead. Favorable fuel economics between oil and natural gas, national security and environmental factors, in part or in full, drove the adoption of natural gas vehicles. Asia, including China, now consumes more than 7-mb/d of oil for transportation. For China specifically, the much cleaner burning attributes of natural gas amid pollution problems in the country, and the current favorable price of gas vs. oil, along with fuel diversification factors, are propelling the country forward in the use of gas in transportation. China is way ahead of the U.S. in the deployment of NGVs and related infrastructure.

Check out this chart of NGVs across the world. You can barely see North America at the bottom of this chart.

Citi Research

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