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FLNG to be the game changer for the liquefaction industry, to witness a CAGR of 27.14% during 2017-2023

09-25-2017 02:42 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Energias Market Research

/ PR Agency: Energias Market Research
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The market is expected to witness a CAGR of 27.14%, and is projected to reach USD 70 billion by 2023. 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 (2017-2023).

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.

Key findings from FLNG report

The FLNG market is expected to reach at a capacity of 260 MTPA by 2023.
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 2017 to 2023. 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 dealing 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.

About Energias Market Research -

For details : info@energiasmarketresearch.com
call us : +1-716-239-4915
visit : http://energiasmarketresearch.com

We’re a squad of 50+ full-time analyst and 100+ part-time consultants who have proven track record in Market intelligence and consulting. We’ve proficiency across an assortment of industry verticals counting Energy, Oil and Gas, Aerospace & Defence, Chemical and Materials, Agriculture, Automotive & Transportation, Food & Beverages, and Healthcare.

About Energias Market Research -

We’re a squad of 50+ full-time analyst and 100+ part-time consultants who have proven track record in Market intelligence and consulting. We’ve proficiency across an assortment of industry verticals counting Energy, Oil and Gas, Aerospace & Defence, Chemical and Materials, Agriculture, Automotive & Transportation, Food & Beverages, and Healthcare.

Energias Market Research
Plot A 12, Ist floor, IT Park Sahastradhara Road, Dehradun -248013
Chandra Mohan (CEO & MD)
+91-9634069991
info@energiasmarketresearch.com
www.energiasmarketresearch.com

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