COVID-19 Impact on Floating LNG Pretreatment Market

  • The COVID-19 outbreak is hampering demand for floating LNG pretreatment in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the coronavirus. This has resulted in a slowdown and even a halt in pretreatment operations, thus hampering the demand for LNG pretreatment.
  • Key players operating in the floating LNG pretreatment market are primarily tier I and tier II service providers. Liquefied natural gas (LNG) and supply chain facilities of these service providers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain.
  • The industrial shutdown caused by the COVID 19 pandemic has created disruption in the production and supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market. The reduced downstream demand for LNG pretreatment process has resulted in some Asian LNG buyers being physically unable to unload scheduled LNG cargos. With limited storage and inventory levels reaching tank tops, buyers have been forced to turn away cargos.

Key Drivers of Floating LNG Pretreatment Market

  • The floating LNG pretreatment market is expected to expand due to rising demand for clean fuel technologies and growing focus on a sustainable energy mix. Rapid depletion of fossil fuels, combined with ongoing efforts to reduce carbon emissions, is likely to help businesses thrive.
  • Floating LNG pretreatment is cost efficient compared to onshore liquefaction plants. It can also be relocated to several places. This combined with its adaptability to operate in varied well depths is driving the market.

Restraints of Floating LNG Pretreatment Market

  • Floating LNG pretreatment size and weight are extremely important for any topside design. FLNG topside can typically weigh up to 40,000 tons; any reduction in size and weight can assist in additional production.
  • Floating LNG reserves are located in embedded underground areas and a significant portion of these reserves are often located off-shore
  • The floating LNG pre-treatment is expensive due to installation of long subsea natural gas pipeline. This is hampering the floating LNG pretreatment market.

Asia Pacific to Constitute Significant Share of Global Floating LNG Pretreatment Market

  • In terms of region, the global floating LNG pretreatment market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • The floating LNG pretreatment market in Asia Pacific is likely to witness substantial growth on account of ongoing government initiatives along with significant financial support for the development of stranded gas reserves across the region. Increasing energy demand coupled with rising number of projects across India is also estimated to enhance the market outlook.
  • The floating LNG pretreatment market in Africa is set to grow due to accelerating investment in infrastructure development along with substantial government support in floating LNG storage and regasification units. The Government of Guinea is seeking to raise the share of natural gas in primary energy, leading to robust growth of the natural gas market, where LNG is the largest contributor.

Competitive Landscape of Global Floating LNG Pretreatment Market

  • Major players operating in the global floating LNG pretreatment market are adopting various growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players.

Key Players Operating in Global Floating LNG Pretreatment Market

  • Lummus Technology
  • Honeywell International Inc.
  • Newpoint Gas
  • Shell
  • Schlumberger
  • Petronas
  • Exmar
  • Golar LNG

Global Floating LNG Pretreatment Market, by Process

  • Amine Treating
  • Membrane Treating
  • Mercury Removal
  • Mole Sieve Dehydration
  • Oxygen Removal

Global Floating LNG Pretreatment Market, by Capacity

  • Large-scale capacity
  • Small-scale capacity

Global Floating LNG Pretreatment Market, by Application

  • Removing Impurities
  • Removing high CO2 and H2S

Global Floating LNG Pretreatment, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Floating LNG Pretreatment Market: Introduction

  • Floating LNG pretreatment is used to lower the temperature of natural gas streams going to the liquefaction section. It helps reduce energy requirements for the gas liquefaction process.
  • Floating LNG pretreatment acts as a liquefaction facility and processing platform that helps eliminate the cost of production facilities. It is installed in ships that are used for short or prolonged periods and can be leased or owned, unlike onshore terminals that are developed for decades of use.

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Floating LNG Pretreatment Market