Floating LNG Market Set for Explosive Growth at 24% CAGR Through 2031, Led by Asia-Pacific's 38% Global Market Share | DataM Intelligence

The Global Floating LNG Market is estimated to reach a CAGR of 24% over the forecast period (2024-2031).​

This remarkable growth is driven by escalating global demand for cleaner energy sources, the flexibility of FLNG units in monetizing remote offshore gas reserves, and cost efficiencies compared to traditional onshore LNG facilities.

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United States: Key Industry Developments
✅ November 2025: ExxonMobil commenced operations at a new Floating LNG (FLNG) unit off the Gulf of Mexico coast, enhancing U.S. LNG export capacity with advanced liquefaction technology for rapid deployment to global markets.

✅ October 2025: Cheniere Energy announced a partnership for the deployment of a converted FLNG vessel, targeting increased production efficiency and lower emissions through carbon capture integration.

✅ September 2025: Venture Global LNG secured final investment decision for an FLNG project in Louisiana, focusing on modular construction to accelerate timelines amid rising domestic gas supply.

Asia Pacific / Japan: Key Industry Developments
✅ November 2025: Japan's JERA Corporation invested in a Southeast Asia-based FLNG facility, enabling flexible LNG imports and supporting energy security with proximity to regional gas fields.

✅ October 2025: Petronas of Malaysia launched the PFLNG Dua, an upgraded floating LNG platform with enhanced processing capacity, catering to Asia Pacific demand growth and sustainability goals.

✅ September 2025: Inpex Corporation advanced FLNG feasibility studies in Australian waters, emphasizing offshore monetization of stranded gas reserves for Japanese and broader APAC markets.

Key Merges and Acquisitions(2025):
✅ ExxonMobil - Acquired stakes in Coral North FLNG: ExxonMobil bolstered its African portfolio by increasing equity in Mozambique's Coral North floating LNG project, partnering with Eni and others for 3.4 MTPA capacity startup by 2027.​

✅ Mitsui O.S.K. Lines (MOL) - Long-term FSRU charter with GAZ-SYSTEM: MOL secured a major Time Charter Party for a Floating Storage and Regasification Unit, enhancing Poland's LNG import infrastructure and European energy security.​

✅ Shell - Expanded FLNG fleet via Golar LNG asset purchase: Shell pursued consolidation by acquiring conversion-ready FLNG units from Golar, targeting Southeast Asian stranded gas fields to capture niche market share.​

Market Segmentation Analysis:
-By Terminal Type: Import Terminals Lead with FSRU Dominance
Floating LNG Import Terminals (primarily FSRU) hold about 60% market share as of 2024, excelling in quick deployment for regasification and import needs in regions like Asia-Pacific with rising gas demand.
Floating LNG Liquefaction Terminals (FLNG) capture the remaining 40%, focusing on production from stranded gas reserves, with growth driven by projects like those from Golar LNG.

-By Capacity: Large Scale Commands Majority
Large Scale (greater than 1,000,000 tpa) dominates with over 60% market share in 2024, leveraging economies of scale for high-volume export contracts and operational efficiency.
Mid-Scale (500,000-1,000,000 tpa) takes around 25%, ideal for regional projects balancing cost and flexibility.
Small-scale (less than 500,000 tpa) accounts for 15%, suited for niche bunkering and short-term operations.

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Growth Drivers:
-Rising global demand for natural gas, particularly as a cleaner transition fuel amid energy needs in emerging economies and power sectors.

-Development of offshore and stranded gas fields using FLNG's mobility, avoiding costly onshore infrastructure.

-Technological advancements in modular designs, cryogenic storage, and efficiency, reducing costs and deployment times.

-Stringent environmental regulations favoring LNG's lower emissions over traditional fossil fuels.

-Government support and investments for energy security, diversification, and flexible LNG infrastructure.

Regional Insights:
-Asia-Pacific leads the Floating LNG market with the largest share, estimated at around 38% in 2025, driven by major offshore gas reserves in countries like Australia, Malaysia, and Indonesia, along with surging energy demand and projects such as Petronas' PFLNG Dua.

-North America holds the second-highest market share, approximately 28%, fueled by extensive infrastructure, substantial investments in natural gas projects, and established players leveraging U.S. and Canadian resources for FLNG adoption.

-Europe captures about 20% of the market, supported by regasification needs in countries like the UK, Germany, and Russia, though growth is moderated by regulatory hurdles and a shift toward energy diversification.

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Key Players:
Excelerate Energy | Golar LNG | Höegh LNG | Hyundai Heavy Industries | Petronas | Royal Dutch Shell | Samsung Heavy Industries

Key Highlights (Top 5 Key Players) for Floating LNG Market:
-Samsung Heavy Industries secured $637 million in FLNG contracts in 2025, contributing to a $3.3 billion first-half order book and positioning it as a leader in offshore LNG infrastructure.

-Hyundai Heavy Industries reported strong FLNG involvement through major shipbuilding orders, with overall revenues exceeding $10 billion annually and key projects driving 15-20% margins in offshore energy.

-Golar LNG operates multiple FLNG vessels, generating approximately $1.2 billion in annual revenue from liquefaction and regasification services amid rising global demand.

-Royal Dutch Shell leads with integrated FLNG projects like Prelude, achieving around $400 billion in total energy revenues including substantial LNG contributions in 2024.

-Excelerate Energy recorded $1.5 billion in FSRU and FLNG-related revenues, expanding its fleet to support flexible LNG import terminals worldwide.

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