Compared with traditional terrestrial biomass feedstock, microalgae possess many advantageous characteristics including a fast growth rate, high areal productivity, efficient carbon dioxide fixation, possibility of exploitation in different climates, with a wide variety of water sources (fresh, saline, wastewater) and on nonarable land, and ability to accumulate relatively high amounts of lipids and carbohydrates inside their cells for biodiesel and bioethanol production, respectively [3].