Global demand for natural gas has been rising as it is a preferred fuel in power generation in various industries. Natural gas is cleaner, safer, and more cost-effective than other fuels. It has the potential to significantly reduce greenhouse gas (GHG) emissions. Natural gas is consistently being used to substitute high pollutant fuels such as coal and fuel oil in power and industrial sectors in several countries. Natural gas is a multipurpose fuel. Its growth is associated in part to environmental benefits relative to other fossil fuels.
FLNG terminals provide a solution for gas to be processed, stored, and liquefied in offshore facilities before loading it on to tankers for export. FLNG systems operations and processes are carried out for the movement of off-shore based natural gas reserves. Floating terminal operations and processes are majorly used for production, storage, liquefaction, and transfer of liquefied natural gas from offshore gas reserves to onshore ones. FLNG terminals offer cost-effective solution for the development of standard fields. Oil & gas companies can relocate their vessel to other fields due to the depletion of resources. This not only lowers the decommissioning cost but also reduces the cost of adding new fields. Offshore FLNG production vessels can be described as placing the traditional onshore liquefaction plant on liquefied natural gas tanker which delivers the storage capacity.
FLNG terminals generate liquefied natural gas directly on off-shore floating systems. This helps lower down the investments required for onshore LNG system development. FLNG terminals require less space; this minimizes the development cost and reduces disturbance caused by space requirements. The opportunity provided by the Floating Storage Regasification Unit (FSRU) and Floating Production Storage and Offloading (FPSO) contractors to lease FLNG vessel enables smaller independent energy companies it also helps companies by avoid ordering and buying cost of liquefaction equipment and facility requirement.
Increase in new offshore floating projects due to the rise in demand for gas is expected to boost the FLNG terminals market. FLNG terminals offer the possibility of lowering production costs and expanding production, thus improving the project economics. Lease option would enable smaller independent energy companies with limited capital to enter the market and meet the global demand for gas. Lack of infrastructure and sluggish growth of developing economies are factors anticipated to negatively impact the FLNG terminals market. Design and construction challenges pertaining to FLNG terminal facilities are also estimated to hamper the market during the forecast period.
Based on type, the FLNG terminals market can be divided into FLNG import terminals and FLNG export terminals. Rise in demand for floating vessels to eliminate the deployment of extensive gas pipelines in onshore facilities is expected to boost the FLNG terminals market.
Based on region, the FLNG terminals market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Middle East & Africa is projected to lead the FLNG terminals market during the forecast period, followed by Europe. Dominance of Middle East & Africa region can primarily be ascribed to the presence of large number of natural gas reverses in Qatar, Kuwait, the UAE, and Jordan.
Key companies operating in the FLNG terminal market include Royal Dutch Shell, Excelerate Energy, Samsung Heavy Industries, Golar LNG, Hoegh LNG, PETRONAS, and Hyundai Heavy Industries.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.