LNG Re-Gasification Market - Global Industry Analysis 2020

Increase in the oil and gas exploration activities to satisfy the global energy needs can have direct implications on the global LNG Re-gasification industry. The global market for LNG Re-gasification industry depends upon the demand for LNG, and hence any factor driving LNG demand could also drive the LNG Re-gasification market. Re-gasification is a process of converting back the Liquefied Natural Gas into its original form. The stringent environmental laws advocating the use of cleaner fuels can have positive impact on the demand of natural gas, and hence re-gasification equipments. The need to meet the energy and climate targets by various countries is one the major driver for the LNG re-gasification industry. LNG re-gasification plants can be located on both onshore and offshore locations. The offshore plants are usually located on the floating barges equipped with all necessary technologies for re-gasification.

Segmentation of the LNG Re-gasification market can be done on the basis of technology, plant location (Onshore and Offshore Re-gasification), end user industry and geography. Some of the major LNG-re-gasification technologies include the use of open rack vaporizers, submerged combustion vaporizers, shell and tube vaporizers, intermediate fluid vaporizers and ambient air vaporizers. The LNG Re-gasification industry can also be segmented depending upon the location of re-gasification plants. The LNG Re-gasification plants can be located both on the onshore and offshore areas. The Floating Storage and Re-gasification Units (FSRU) are purposely built tankers that can be used for designed for re-gasification of LNG. Natural gas is widely used as a fuel for gas powered cars, buses and trucks. Besides that natural gas can also be used as fuel for power plants.

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The segmentation of the LNG Re-gasification market can be done by indentifying the major LNG importing and producing countries. Major natural gas importing and producing countries include the United States, Canada and Mexico; Australia, India, Singapore, China, Korea and Japan; Italy, Spain, Germany, Russia and the United Kingdom in Europe; Oman, Qatar, Kuwait, Iran, Iraq and Saudi Arabia. Rest of the World segment includes countries from Africa and Latin America. Major countries in this segment are Angola, Nigeria, Venezuela, Brazil and Ecuador. Recent natural gas discoveries in West Africa and Central Asia are also having the positive impact on the world LNG Re-gasification industry.

Increasing onshore and offshore natural gas exploration activities, advancements in re-gasification technologies, increasing demand for natural gas, stringent environment regulations advocating the use of cleaner fuels are the major drivers for the LNG Re-gasification industry. Moreover, the development of offshore re-gasification units can also have a positive impact on the LNG Re-gasification industry. High cost of installation for LNG re-gasification units is one of the major restraints to the LNG Re-gasification industry. Moreover, the development of bio-fuels and renewable energy technology can also be a restraint to the LNG market and hence the LNG Re-gasification industry. Increase in the number of vehicles especially in the Asia Pacific countries such as India and China can act as the opportunity for the LNG Re-gasification industry. Both of the countries import LNG in large quantities and hence can act opportunities for the companies planning to invest in LNG Re-gasification.

Some of the major companies involved in LNG Re-gasification include KBR, Inc., Golar Management Ltd., Höegh lng AS, John Wood Group PLC, Wärtsilä, Excelerate Energy, L.P and others.

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