The global oil & gas industry experienced an 8% decline in the number of lng-related patent applications in Q1 2023 compared with the previous quarter. The total number of lng-related grants dropped by 13% in Q1 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 313 in Q1 2023, versus 339 in the prior quarter.
The top five companies accounted for 26% of patenting activity
Analysis of patenting activity by companies shows that Engie filed the most lng patents within the oil & gas industry in Q1 2023. The company filed 26 lng-related patents in the quarter, compared with 64 in the previous quarter. It was followed by Air Liquide with 23 lng patent filings, Airbus (15 filings), and Robert Bosch Stiftung (9 filings) in Q1 2023.
Patenting activity was driven by China with an 18% share of total patent filings
The largest share of lng related patent filings in the oil & gas industry in Q1 2023 was in China with 18%, followed by South Korea (12%) and Japan (9%). The share represented by China was 7% higher than the 11% share it accounted for in Q4 2022.
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.
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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.
