Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for energy industry professionals · Thursday, March 28, 2024 · 699,409,914 Articles · 3+ Million Readers

FLNG to be the game changer for the liquefaction industry, to witness a CAGR of 27.14% during 2018-2024: Energias Market Research Pvt. Ltd.

NEW YORK, March 03, 2018 (GLOBE NEWSWIRE) -- The Floating Liquefied Natural Gas (FLNG) market is expected to witness a CAGR of 27.14%, and is projected to reach USD 88.99 billion by 2024. Factors propelling the growth of FLNG market include increasing investment in Liquefied Natural Gas (LNG) market; shifting focus towards cleaner burning fuel, save on the cost by reduction in upstream infrastructure and reduction of operational downtime to develop a gas field. The report segments Floating Liquified Natural Gas (FLNG) market by Processing Capacity (Small (0-2.9 MTPA), Large (3 MTPA and above)), by Type (Floating Production Platform, Regassification Platform), by Deployment (Near-shore, Offshore), by Region (North America, Europe, Asia-Pacific, Middle East and Africa (MEA), Rest of the World (RoW). The report studies the global FLNG market over the forecast period (2018-2024).  

Floating Liquefied Natural Gas (FLNG) is an offshore vessel that includes all the systems to enable offshore liquefaction of natural gas to LNG. FLNG offers flexibility in the types of processing equipment installed to accommodate a variety of gas conditioning requirements. FLNG acts as a moveable midstream asset that avoids costly pipeline infrastructure to move gas onshore.

Browse full research report with TOC on "Global Floating Liquefied Natural Gas Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024" at: https://www.energiasmarketresearch.com/global-floating-liquefied-natural-gas-flng-market-outlook/

To purchase report: sales@energiasmarketresearch.com

Key findings from FLNG market

  • The FLNG market is expected to reach at a capacity of 278 MTPA by 2024
  • Small to mid-size FLNG is expected to grow by 28% during the forecast period. Low capital investment and shorter development time drives the growth of small and mid-size FLNG
  • FSRU type FLNG is expected to grow at a CAGR of 20% during 2018 to 2024. LNG FPSO market growth will be simulated by the demand of natural gas in Asia-Pacific region
  • Near-shore FLNG segment will dominate the FLNG market, factors such as reduced cost, shorter development time and reduction in land use drive the growth of near-shore FLNG
  • Geographically, North America held the largest market share due to increase in LNG production from shale gas fields
  • Asia-Pacific region is estimated to be the fastest growing region due to the increasing energy demand as well as development of gas fields in the region
  • Planned offshore liquefaction facility in Iran and other import facility in Egypt and UAE are expected to fuel the growth of FLNG market in Middle East & Africa at a significant CAGR
  • In August 2017, Golar LNG partners buys stake in Hilli Episeyo FLNG the which will be deployed later this year in Cameroon, to produce gas for Perenco
  • The key players operating in FLNG market are Petronas, Royal Dutch Shell plc, Ophir Energy, Excelerate Energy L.P, Exmar, Woodside Petroleum Limited, Golar LNG, Black & Veatch Holding Company, GEPetrol and Delfin LNG

FLNG- Changing Project Economics
Constructing offshore LNG liquefaction facilities have been able to save the costs for oil and gas companies helping them to improve the project economics. While transporting gaseous LNG from remote reserves to onshore facilities is a costly affair, adopting floating liquefaction and storage techniques would allow companies to generate more profits from offshore LNG reserves. Further uncertainty in oil prices tends to support the growth of the FLNG market across the globe. The cost cutting measures by oil and gas companies in compliance to falling prices of crude oil has led to prudent investment in many onshore facilities. FLNG offering lower production cost and increasing the profit margin is being adopted by many players operating in onshore facilities. FLNG offering opportunity to many players in energy sector is expected to register high growth over the coming years and would have positive impact on the overall gas market.

FLNG- Regional Insight
North America being the prominent FLNG market is expected to make high investments in global FLNG projects. Further, the U.S. will focus on shale gas production leading to the increasing investment in floating liquefaction.

Asia-Pacific region continues to be most active LNG import market. Japan, South Korea and China together import one third of the world LNG produced. FLNG’s accessibility in remote markets has brought Pakistan and Bangladesh into picture.  High growth in the Asia-Pacific region is due to strong demand from economies such as China and India. Further, steady growth in smaller markets including Thailand and Singapore has helped the region retain their important role in global trade.

The European FLNG market is driven on the account of stringent carbon emission reduction targets. Moreover, the need to diversify energy supplies in order to implement emissions reduction policies has led to increasing investment in the European FLNG market.

African region have a great potential to be a major LNG supplier. New offshore dry gas discoveries have brought investments in several floating and onshore projects in the region especially in Mozambique and Tanzania.  The governments support the development of liquefaction projects and have actively worked to establish gas specific legislation. Further, West Africa is emerging as an important region for the deployment of small-scale floating liquefaction. Some of the FLNG projects in the region have made good progress in a short time. The success of these projects indicates more FLNG vessels could be utilized to monetize potential future discoveries.

About Energias Market Research Pvt. Ltd. -

Energias Market Research Pvt. Ltd. publishes high quality reports, in-depth market research studies, to help clients obtain investment level clarity on current business scenario, trends and segmentation for their future developments. We are committed to our client’s needs, by providing high quality custom reports solutions best fit for strategy development and implementation to high return of invest (RoI). We believe that exceptional problems need expertise to solve, and with the help of our industries expertise we are able to offer an in depth understanding of what’s crucial, what’s applicable, and what it takes to ensure accomplishment in any business or venture.

With a wide range of expertise from various industrial sectors and more than 50 industries that includes energy, chemical and materials, information communication technology, semiconductor industries, healthcare and daily consumer goods, etc. We strive to provide our clients with a one-stop solution for all research and consulting needs.

Contact:                            

Mr. Manas Nagi

Business Development Manager

For any queries email us: info@energiasmarketresearch.com

To purchase report: sales@energiasmarketresearch.com

Call us: +1-716-239-4915

Visit: https://www.energiasmarketresearch.com/

Primary Logo

Powered by EIN News


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release