Small Scale LNG Terminals Market Estimated to Record Highest CAGR by 2022
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The emergence of LNG as a highly preferred fuel gas for a number of applications in the past few years has led to the rapid development of the overall infrastructure of LNG. The rising global demand for LNG has significantly benefitted small scale LNG terminals. The constantly fluctuating supply of crude oil across the globe has led to the development of ways in which the issue can be dealt with. One of the most promising ways is the establishment of more focused, smaller extraction centers rather than the conventional large oil rigs prevalent across the global petroleum extraction scenario currently. This has significantly boosted the global market for small scale LNG terminals in the past few years.
Small scale LNG terminals help in reducing transportation costs, a major expense for LNG producers in the current scenario since the majority of LNG presently produced need to be transported from distant processing and packaging plants to urban utility centers. Small scale LNG terminals mitigate this issue, making them more cost effective than large-scale LNG extraction units.
LNG also comes across as a relatively clean-burning fuel, especially for long-haul vehicles. This has prompted many fuel service providers in adopting LNG as the fuel of choice on fuel stations. The relative ease of transporting and storing LNG also leads to its high demand, subsequently propelling the global small scale LNG terminals market.
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The report segments the market on the basis of type of terminals and geography.On the basis of type, the market is segmented into liquefaction terminals and regasification terminals. Both these segments are further categorized into onshore and offshore terminals. Of these, the market for small scale liquefaction terminals is expected to grow at the fastest pace over the report’s forecast period.On the basis of geography, the global small scale LNG terminals market is segmented into North America, South America, Asia Pacific, Middle East and Africa, and Europe.
The report also gives a comprehensive overview of the competitive landscape of the global small scale LNG terminals market. The report states that the market is presently marked by routine mergers and acquisitions and collaborations between major companies. The report presents detailed business profiles of some of the key companies operating in the market, with a SWOT analysis of these companies to elucidate the strengths, and weakness of these companies, and the threats and opportunities for them in the market. Companies profiled in the report include Skangass AS, Emirates LNG LLC, Nippon Gas Co. Ltd., Prometheus Energy Company, PETRONAS.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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