Global Floating Liquefied Natural Gas (FLNG) market is projected to grow at a CAGR of 20.1% by 2032: Visiongain Reports Ltd

Visiongain has published a new report entitled Floating Liquefied Natural Gas (FLNG) 2022-2032. It includes profiles of Floating Liquefied Natural Gas (FLNG) and Forecasts Market Segmentation by Spending (OPEX ($Mn), CAPEX ($Mn)) Market Segmentation by Number of Vessels (Units), Market Segmentation by Type (Floating Production, Storage and Offloading (FPSO), Floating Storage Regasification Unit (FSRU)) Market Segmentation by OPEX Type, (Topside Development, Hull Design & Construction, Mooring System, LNG Transfer Systems) Market Segmentation by CAPEX Type (Engineering & Design, Materials & Parts Procurement, FLNG Construction, FLNG Commissioning, Other CAPEX Type) (PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.

The global floating liquefied natural gas (FLNG) market was valued at US$16,670 million in 2021 and is projected to grow at a CAGR of 20.1% during the forecast period 2022-2032.

Rising Natural Gas Demand Will Drive the Global FLNG Market

Early adopters of this novel approach sought to supply their end users swiftly, efficiently, and affordably. Significant accomplishments include more than simply the first LNG delivery to Shell’s Prelude FLNG vessel for commissioning and the first shipment of LNG from Golar LNG’s Hilli Episeyo from Cameroon to China. By more effectively servicing the world and placing a crucial emphasis on diversified energy sources, they have unlocked the door to what is conceivable.

In order to get supplies to areas with high demand, LNG production and shipping technologies, particularly FLNG, have now been established and are gaining speed. China and India’s demand for gas, despite that nation’s efforts to achieve renewable energy targets, demonstrates a comprehensive strategy to power generation that should keep natural gas in demand.

Download Exclusive Sample of Report

How has COVID-19 had a significant negative impact on the Floating Liquefied Natural Gas (FLNG) Market?

The LNG market was already headed for an oversupply in 2020 and 2021 before the COVID-19 outbreak, since new projects kept expanding capacity considerably beyond consistent demand growth. The pandemic’s decreased gas consumption has increased the amount of excess supply, causing the market to be volatile. Additionally, a prolonged period of low oil prices and greater rivalry among sources of gas supply as new supply enters the market have combined to erode margins, placing pressure on gas and LNG producers. COVID-19 presents an opportunity for the floating liquefied natural gas (FLNG) market player to play an expanded role in care. The growing number of coronavirus cases across the globe and the rising relationship between technology and healthcare is projected to open new revenue avenues for the market players over the forecast period.

How will this Report Benefit you?

Visiongain’s 363-page report provides 174 tables and 160 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global floating liquefied natural gas (FLNG) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Floating Liquefied Natural Gas (FLNG). Get financial analysis of the overall market and different segments including type, spending type, OPEX type, CAPEX type, market value, market volume, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing floating liquefied natural gas (FLNG) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

FLNG Is A Viable Option for Commercialising and Exporting from Both Nearshore Gas Deposits and Land-Based Pipeline Networks

It has been demonstrated that the FLNG is a viable option for commercialising and exporting from both nearshore gas deposits and land-based pipeline networks. The operational and financial flexibility of FLNG is on full display as the need for greener, less expensive energy is steadily rising. Operators and developers are eager to see how far this ship can go them now that a more effective and affordable alternative is available on the open market.

Gas-To-Liquid (GTL) Technologies Have Been Considered and Put Forth as a Way to Make Money from Remote Gas Sources

Gas-to-liquid (GTL) technologies have been considered and put forth as a way to make money from remote gas sources, which are also being held back from wider commercialization. The search for commercially feasible technology for handling and transporting gas is prompted by the rising worldwide energy demand, depleting oil supplies, and environmental advantages of natural gas’s low greenhouse gas emissions.

Three major groups can be made up of the alternative options for marketing stranded gas: export markets, combined-commodity projects, and local or regional markets. Depending on the distance to the market and the magnitude of the gas resources, several technologies may be employed to develop remote gas fields. The environmental advantages of GTL products may help to improve the air quality in urban areas where pollution from transportation fuel emissions is a problem. According to a full-cycle environmental analysis, GTL fuels do not considerably outperform fuels from refineries.

Download Exclusive Sample of Report

Where are the Market Opportunities?

The Advancement of Technology in FLNG Sector

A lot of nations have worked to establish alternative energy sources, such as fresh and renewable energy sources. Natural gas (NG) plays a crucial role in this regard because it has the lowest capital expenditure (capex) of all the energy resources, especially in power plant fields that require large energy capacity. The capital outlay for natural gas is almost a third of what it is for coal and a sixth of what it is for offshore wind, making it the most efficient energy source. Natural gas (NG) that has been chilled to the point of liquefaction produces liquefied natural gas (LNG), which has been regarded as one of the finest solutions for minimising disputes over energy initiative and security.

Capital Improvement of Project

To properly manage financial risk in LNG projects, it is essential to understand the economics of the LNG value chain. Since LNG has become so affordable, switching to natural gas from coal and oil will no longer be supported by incentives. However, it is necessary to set up appropriate volume allocation and accompanying agreements between suppliers, buyers, and other key stakeholders in a way that favours natural gas in the long run. Utilizing data from the entire industry, liquefied natural gas (LNG) project economic viability is assessed. Liquefaction, shipping, and re-gasification are included on a unit energy basis that synchronises the range of expenditure numbers (both capital and operating) seen in the literature. Large upfront capital investments are often needed to establish natural gas projects of a size that can justify the costs involved with a liquefaction facility. The majority of gas volumes are sold to big, credit-worthy clients under lengthy take-or-pay contracts before first gas in order to ensure repayment.

Competitive Landscape
The major players operating in the floating liquefied natural gas (FLNG) market are Chevron Corporation, Daewoo Shipbuilding & Marine Engineering Co., Ltd, Equinor ASA, Excelerate Energy L.P., Exmar NV, Exxon Mobil Corporation, Golar LNG, Hoegh LNG Partners LP, Hyundai Heavy Industries Holdings Co Ltd, Lloyds Energy, Petroleo Brasileiro S.A, Royal Dutch Shell, Samsung Heavy Industries Co Ltd., TechnipFMC Plc, Total SE, Woodside Petroleum Ltd, . These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

  • 24-Feb-2022, Six years after the shipbuilding industry recession forced its closure in 2017, Hyundai Heavy Industries (HHI) has chosen to restart the operation of its shipyard on a 1.8 million square metres of land in Gunsan, North Jeolla Province in January 2022.
  • 07-Jan-2022, Petroleum Unit Shale Industrialization (SIX), located in So Mateus do Sul, state of Paraná, as well as the concession contract to control shale research and mining at SIX, were both signed today (7/1) by Petrobras and the National Agency of Petroleum, Natural Gas, and Biofuels (ANP).

Avoid missing out by staying informed – order our report now.

To find more Visiongain research reports on the oil & gas sector, click on the following links:

  • Liquefied Petroleum Gas (LPG) Market Report 2022-2032
  • Offshore Support Vessel Market Report 2022-2032
  • Well Intervention Market Report 2022-2032
  • Oil & Gas Pipeline Leak Detection Market Report 2022-2032

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: [email protected]

About Visiongain

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

Oliver Davison
PR at Visiongain Reports Limited
Tel: + 44 0207 336 6100
Email: [email protected]

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. takes no editorial responsibility for the same.