Offshore FLNG Projects: Potential to boost the demand
According to Goldstein Research, “Rising demand for clean energy and government efforts to reduce the global emissions is inclining from coal energy to gas energy. This continuous change in demand is expected to upsurge the demand for FLNG. FLNG is projected to meet the increasing global energy demand and is expected to boost the further expenditure on FLNG projects and supports the growth of global FLNG market in the near future.”
Global floating liquefied natural gas (FLNG) market is segmented on the basis of type of technology, by production capacity and by mode of deployment. Mode of deployment is further categorized into near shore and offshore. Among these segments offshore FLNG projects developments are more preferred by market players owing to its economical nature. Moreover, offshore construction helps in preserving marine and coastal environments and thus provides less environmental impacts.
Floating Liquefied Natural Gas (FLNG) Market expected to witness a promising growth in the near future. However, complexity in the processing of FLNG may hinder the development of new projects. Global floating liquefied natural gas (FLNG) market valued USD 13.2 billion in 2016 and is projected to grow at healthy CAGR during the forecast period. Middle East & Africa and Australia are expected to occupy major share in terms of expenditure on FLNG units. Completion and installation of Prelude FLNG in Australia is projected to expand the FLNG business in the country.
FLNG Facility: Future to meet energy demand
Rising energy demand and investment in gas reserves are expected to boost the new developments of FLNG units. However, lack of infrastructure creates a monetizing challenge in the establishment of new projects. Rising decline in onshore hydrocarbon production provides a new business opportunity for offshore natural gas exploration and thereby supporting the growth of FLNG market. Moreover, FLNG facilities are expected to provide flexibility and monetary benefits in establishing liquefaction of natural gas in remote areas by reducing the development cost. Completion of ongoing operations of FLNG in countries such as Argentina, Brazil, Kuwait, the UK, the UAE and the USA are expected to embellish the FLNG market growth in the near future.
Global Floating Liquefied Natural Gas (FLNG) Market
Floating liquefied natural gas (FLNG) market report contains detailed overview of the global floating liquefied natural gas (FLNG) market in terms of market segmentation by type of technology, by production capacity and by mode of deployment.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global floating liquefied natural gas (FLNG) market also provides competitive outlook of some of the major players of global floating liquefied natural gas (FLNG) market which includes profiling of companies such as Royal Dutch Shell, Golar LNG, Excelerate Energy L.P., Exmar NV, Höegh LNG, Eni, Mitsui O.S.K. Lines, Petronas, Ophir Energy, Noble Energy, Samsung Heavy Industries, Hyundai Heavy Industries, Woodside Petroleum, Perenco, Mitsubishi Heavy Industries, Black & Veatch Holding Company, JGC Corporation, KBR Inc., Saipem S.p.A., TechnipFMC plc and DAEWOO Shipbuilding & Marine Engineering Co., Ltd. (DSME). The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global floating liquefied natural gas (FLNG) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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