Small Scale LNG Market Growing Extensively By 2019-2026 With Top Players Like Total, Shell, ENGIE, Siemens, Eni, BP, Wärtsilä, Statoil, BG Group, Air Products
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The small scale LNG market Global Small-Scale LNG Market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026. Increasing demand for the LNG is the major factor for the growth of this market.
The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker, ships and trucks. These small LNG has production capacity of 500000 TPY and are usually used where there is requirement of LNG by the consumers. Increasing demand of LNG in marine and heavy transport is the major factor for the growth of this market.
Key Market Competitors:
Few of the major competitors currently working in small- scale LNG market are Linde plc, Wärtsilä, Honeywell International Inc, GENERAL ELECTRIC, ENGIE, Gazprom, Sofregaz Company, Dresser-Rand, , Excelerate Energy. L. P., Cryostar, Equinor ASA, PT Pertamina(Persero), Eni, Total, Gasum Oy, Kunlun Energy Company Limited, Royal Dutch Shell, BP p.l.c.
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Segmentation: Global Small-Scale LNG Market
Based on Type, market is segmented into Liquefaction Terminal, Regasification Terminal
Based on Application, market is segmented into Heavy-Duty Vehicles, Marine Transport, Industrial & Power, Utilities, Residential
Based on Modes of Supply, market is segmented into Trucks, Trans- Shipment and Bunkering, Captive Consumption through Pipeline & Rail
Based on Infrastructure, market is segmented into Truck Fuelling Stations, Bunkering Vessels, Bunker Barge, Bunkering Terminals, Storage Hubs, LNG Storage, Regas Facilities, Truck-To-Ship Bunkering, LNG Trailers
Based on Geography, market is segmented into North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Key Developments in the Market:
· In December 2018, Novatek announced the launch of their new small- scale LNG plant at Baltic Sea which has a capacity of 660,000 tonnes of the frozen gas per year and will expand it to 800,000 tonnes by 2021. It is the first cargo of liquefied natural gas as per the contractor Atomtekhenergo.
· In November 2018, Edison announced the launch of their first Italy first integrated logistics chain of small scale LNG along with PIR (Petrolifera Italiana Rumena). It will have storage capacity of 20,000 cubic meters of LNG and will come into operation in 2021.
· Increasing demand of LNG in marine is driving the market
· Low cost of LNG as compared to other energy sources is driving the market
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