The global oil & gas industry experienced a 29% decline in the number of lng-related patent applications in Q3 2024 compared with the previous quarter. The total number of lng-related grants dropped by 15% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Oil & Gas: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
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Notably, the number of lng-related patent applications in the oil & gas industry was 423 in Q3 2024, versus 596 in the prior quarter.
The top five companies accounted for 28% of patenting activity
Analysis of patenting activity by companies shows that Gaztransport & Technigaz filed the most lng patents within the oil & gas industry in Q3 2024. The company filed 35 lng-related patents in the quarter, compared with 88 in the previous quarter. It was followed by Linde with 30 lng patent filings, Air Liquide (21 filings), and Hanwha (21 filings) in Q3 2024.
Patenting activity was driven by the US with a 21% share of total patent filings
The largest share of lng related patent filings in the oil & gas industry in Q3 2024 was in the US with 21%, followed by China (14%) and Japan (5%). The share represented by the US was 10% higher than the 12% share it accounted for in Q2 2024.
For further understanding of GlobalData's Oil & Gas: Patents Trends Q3 2024, buy the databook 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.
