Press release
FLNG Terminals Industry to Hit USD 68.9 Billion by 2034, Fueled by Expanding LNG Infrastructure
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Analyst Viewpoint
The floating LNG terminals market is witnessing significant growth due to heightened environmental concerns and the increasing demand for natural gas as a cleaner fuel alternative. By facilitating the production, liquefaction, storage, and transfer of LNG directly from offshore natural gas fields, FLNG terminals offer flexible and independent solutions with fast implementation schedules, competitive pricing, and reduced project risks. This dynamic environment is further bolstered by investments in natural gas vehicles and offshore gas liquefaction units, which are driving market expansion globally.
Market Introduction
Floating Liquefied Natural Gas (FLNG) terminals are offshore facilities that float above natural gas fields, employing a mix of technologies from land-based LNG, offshore oil & gas, and marine transport sectors. FLNG production platforms liquefy natural gas and store it temporarily, with regular transfers to LNG carriers using cryogenic loading arms capable of operating at temperatures as low as -163°C (-261.4°F). Current Ship-to-Ship (STS) LNG transfer methods include side-by-side, tandem, and parallel positioning, each designed to optimize the offloading process. Recent developments in modular design improvements for gas pretreatment, liquefaction, regasification topsides, hulls, mooring, and transfer systems are further enhancing the efficiency and reliability of FLNG terminals.
Key Players in the FLNG Terminals Market:
Mitsui O.S.K. Lines
Eni S.p.A.
Höegh LNG
BASF SE
EXMAR
ABB
Petroliam Nasional Berhad (PETRONAS)
Woodside
Golar LNG Limited
Excelerate Energy, Inc.
Shell plc
Latest Developments & Strategic Initiatives
May 2024 - Mitsui O.S.K. Lines, Ltd. signed a long-term charter contract for a newbuilding LNG carrier in collaboration with a vessel operation management company funded by JERA Co., Inc. This strategic partnership is aimed at ensuring a stable LNG supply.
May 2024 - Höegh LNG Holdings Ltd. announced an agreement with Australian Industrial Energy Pty Ltd. (AIE) and the Egyptian Natural Gas Holding Company (EGAS) for deploying the Floating Storage and Regasification Unit (FSRU) Hoegh Galleon to support energy security in Egypt.
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Top Market Trends Shaping the Industry
Increased Focus on Reducing Carbon Emissions - The shift towards natural gas as a cleaner fuel is critical in reducing greenhouse gas emissions compared to traditional fossil fuels, thus driving demand for FLNG terminals.
Growth in Adoption of Natural Gas in Transportation - Rising investments in natural gas vehicles and infrastructure are propelling market growth, as LNG serves as an alternative transportation fuel with lower CO2, NOx, and SOx emissions.
Advancements in Offshore FLNG Technologies - Investment in R&D to improve modular designs across gas pretreatment, liquefaction, and regasification systems is creating more efficient and reliable FLNG terminals.
Industry Insights and Future Outlook
The FLNG terminals market is positioned for substantial growth, propelled by environmental imperatives and the rising demand for natural gas in the transportation sector. With increasing investments in reducing carbon emissions and enhancing energy security through offshore gas liquefaction, market players are likely to expand their portfolios and improve technology integration. This forward-thinking approach is expected to drive market penetration across key regions, particularly in Asia Pacific, which is leading the market due to its rapid adoption of natural gas and growing infrastructure investments.
Market Segmentation
By Technology
LNG FPSO
FSRU
Others
By Product
Small/Mid-scale
Large Scale
Others
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
By Country
U.S.
Canada
Germany
U.K.
France
Italy
Russia & CIS
Japan
China
India
ASEAN
Brazil
Mexico
South Africa
GCC
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