Large-scale LNG Terminals Market
Large-scale LNG Terminals Market (Type - Onshore and Offshore; Technology - Liquefaction and Regasification) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2017 - 2023
- Energy & Natural Resources
- 108 Pages
Large-scale LNG Terminals Market - Snapshot
Liquefied natural gas refers to the form that is utilized in transport of natural gas through ocean over long distances. Liquefied natural gas or LNG terminals are those ports that are built to facilitate import and export of liquefied natural gas. The growth of the global large-scale LNG terminals market is likely to be influenced by the growing business of liquefied natural gas across the globe.
Liquefied natural gas or LNG terminals are particularly made and designed ports that are meant to load, store and then unload natural gas to several liquefied natural gas carrier ships. In other words, these terminals are utilized extensively in the business of exporting and importing liquefied natural gas to several destinations across the globe. This factor is likely to work in favor of the global large-scale LNG terminals market in the years to come. Large-scale LNG terminals comprise the terminals that come with the capacity of more than two MMTPA (metric million metric ton per annum).
LNG Terminals (either small scale or large-scale) are divided into the following
- built on onshore and offshore
- liquefaction and re-gasification terminals
Increasing Demand for Clean Environment to Push for Use of Liquefied Natural Gas
The LNG exporting countries with lesser capacity of liquefaction is less than that of the LNG importing countries with higher capacity of re-gasification. The number of terminals or the capacity is dependent on the requirement of natural gas by different countries. Natural gas is a clean fuel, unlike crude oil and it assists in the reduction of air pollution. As such, it helps in the lessening of spread of air-borne diseases, which can be transmitted via countless toxic macro particles. This factor is likely to bolster growth of the global large-scale LNG terminals market in the forthcoming years.
In the last few years, there has been a rise in the number of oil and gas exploration and drilling activities worldwide, which is likely to pave way for rapid expansion of the global large-scale LNG terminals market in the near future.
Global Large-scale LNG Terminals Market: Snapshot
Rising focus on shale gas production has changed the demand-supply demographic of several energy producing regions across the globe in the past few years. The shale boom in the U.S. is on the verge of making North America, a major importer of crude oil and natural gas in the past years, an exporter of LNG. The urgency to improve production and supply infrastructure owing to such changes is the key facilitator of growth for the global large-scale LNG terminals market.
The global consumption of LNG is also mounting owing to its cleaner nature compared to conventional petroleum-based fuels. With emission control norms becoming increasingly strict across the globe, domestic, commercial, and industrial sectors will be compelled to switch to cleaner fuels such as LNG in the near future. This factor will also provide a big boost to the overall development of the large-scale LNG terminals market in the next few years.
Transparency Market Research states that the global large-scale LNG terminals market will exhibit a 3.9% CAGR over the period between 2017 and 2023.
Large-scale Regasification Terminals to Dominate
The segment of regasification terminals presently dominates the global large-scale LNG terminals market. The section accounted for a dominant share of nearly 56% in the global market in 2014. In the next few years, large-scale regasification capacities are expected to increase at a substantial rate across the globe, especially in Asia Pacific, North America, and Europe.
Countries across Asia Pacific, such as China and Japan are focusing on increasing the consumption of natural gas across the power generation, mining, and industrial sectors. This will lead to the increased need for floating and onshore large-scale LNG regasification terminals. In archipelagic topographies such as Indonesia, the rising consumption of LNG will boost the development of off-shore regasification terminals in the next few years. In terms of throughput, the market for large-scale LNG regasification terminals market will expand at over 5% CAGR from 2015 to 2023.
Asia Pacific Continues to Lead Large-scale LNG Terminals Market
In many countries in Asia Pacific, a continuous rise in the number of large-scale LNG terminals has enabled the easy access to natural gas at economic rates. This will facilitate the much needed shift from conventional fuels to natural gas in the transportation and power generation industries in Asia Pacific and encourage the increased adoption of natural gas.
Asia Pacific is presently the leading regional market for large-scale LNG terminals, accounting for a dominant share of over 45% in the global market in 2014. The region will continue to account for a major share in the global large-scale LNG terminal market over the period between 2015 and 2023 as well. Rising environmental concerns and fluctuating prices of crude oil will further encourage the adoption of a cleaner energy source such as natural gas across industrial as well as commercial sectors in the region.
The global large-scale LNG terminals market is characterized by high fragmentation and a rapid influx of new global vendors at a sustained pace. This has led to a substantial rise in production volumes and have brought the prices down, intensifying the competition and leveraging the bargaining power of buyers. Some of the major players operating in the market are Royal Dutch Shell plc, Exxon Mobil Corporation, Linde AG, ConocoPhillips Company, Petroliam Nasional Berhad (PETRONAS), and Nippon Gas Co. Ltd.
Global Large-scale LNG Terminals Market: Overview
The research report analyzes the market for large-scale LNG terminals in terms of throughput in MMTPA. For the research, 2016 has been considered as the base year and forecasts have been provided for 2017-2023.
Large-scale LNG terminals include terminals with throughput more than 300,000 tons per annum. All other terminals below this capacity are not within the scope of this study. For some countries, the percentage of large-scale terminal throughput as a percentage of overall throughput was available directly from secondary sources or was established through primary interviews. For regional segments, where there was dearth of data from both primary and secondary sources, percentages were established using benchmarking and estimates.
The report studies the large-scale LNG terminals market in terms of type, technology, and geography. Included in the report is CAGR for each segment under different category and their growth behavior through 2023. Past and current market figures have been used to present projections until 2023.
Global Large-scale LNG Terminals Market: Report Snapshot
The executive summary section of the report includes market snapshot of the global large-scale LNG terminals market and comparative analysis by geography in terms of value for the 2017-2023 forecast timeframe.
The market overview section of the large-scale LNG terminals market report looks into vital market indicators such as demand drivers, challenges, and opportunities that could have a bearing on the said market over the 2017-2023 forecast period. Some other vital indices such as market attractiveness analysis by geography and Porter’s five forces analysis have been presented in the report as well. These indicators throw light on bargaining power of suppliers, threat of new entrants, bargaining power of buyers, threat of substitutes, and competitive rivalry between players in the large-scale LNG terminals market.
In addition, market share analysis of key players in the past has been provided in this report. This information enables readers for a know-how of the competitive hierarchy in the large-scale LNG terminals market in the past. The section concludes with a section on value chain analysis of the large-scale LNG terminals market. The interaction and roles of various stakeholders, right from producers of natural gas and LNG to distributors and final end-users have been explained in detail.
Global Large-scale LNG Terminals Market: Research Methodology
The making of the report involved using proven research methodologies and verifiable assumptions. Some of the factors considered for deriving forecasts were growth in production and availability of natural gas in regions, increasing demand from the marine and road transportation sectors, rising consumption from other sectors – such as power, development of large natural gas fields, and policy-based directives to increase natural gas consumption and reduce emissions.
Some secondary sources reached out to analyze the large-scale LNG terminals market are company websites and company annual reports, Oil & Gas Journal, Rigzone, U.S. Energy Information Administration, BP Statistical Review of the World, and International Energy Agency.