Global Floating LNG Market 2015-2019
About Floating LNG
Floating LNG refers to a system in which a set of operations and processes are performed for the development of offshore-based natural gas reserves. Floating LNG systems are mainly used for the production, liquefaction, storage, and transfer of LNG from offshore gas reserves to onshore areas. A floating LNG facility produces LNG directly on the offshore floating system, which undergoes a different process, and is stored in vessels or tanks and is finally transported to onshore. The entire value chain of floating LNG system is shorter than the common onshore LNG system. All the equipment, facilities, and other processes in a floating system take place in a single enclosed structure, thereby using just one-third of the space required by normal LNG system. Therefore, the use of floating LNG system eliminates the need for long-distance pipelines and onshore infrastructure and therefore ultimately reduces the disturbance to the surrounding environment and minimizes the development costs to a large extent.
TechNavio's analysts forecast the Global Floating LNG market to grow at a CAGR of 15.2 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Floating LNG market for the period 2015-2019. The report includes the segmentation of the Global Floating LNG market on the basis of type of floating LNG terminal.
TechNavio's report, the Global Floating LNG Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Floating LNG market landscape and its growth prospects in the coming years. The report includes the geographical segmentation of the Global Floating LNG market. It also includes a discussion of the key vendors operating in this market. Key Vendors
Technavio Announces the Publication of its Research Report – Global Floating LNG Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Floating LNG Market: Excelerate Energy LLC, Golar LNG, Höegh LNG, Royal Dutch Shell plc and Samsung Heavy Industries
Other Prominent Vendors in the market are: Daewoo Shipbuilding and Marine Engineering, Hyundai Heavy Industries and PETRONAS
Commenting on the report, an analyst from Technavio’s team said: “One of the key trends expected to mitigate the effect of the challenges is the increase in LNG exports. Because of the increase in demand for energy, the LNG exports are increasing to fulfil this demand. Producers are seeking to convert existing import terminals into export terminals.”
According to the report, one of the key factors driving the market is the growing offshore field development. It is expected that the market will witness a significant increase in the number of new offshore floating LNG projects during the forecast period compared to other shale gas and related exploration projects.
Further, the report states that the design and construction challenges for floating LNG facilities have become a serious concern in the market. The movement of LNG production to the offshore set-up is very complex and poses a set of challenges related to the design and construction of floating LNG systems. In the floating LNG system, the size of the total LNG system is reduced to one-third the size of a typical LNG facility.
Excelerate Energy , Golar LNG , Höegh LNG, Royal Dutch Shell, Samsung Heavy Industries , PETRONAS, Daewoo Shipbuilding and Marine Engineering, Hyundai Heavy Industries