Liquefied Natural Gas (LNG) is a natural gas that is transformed into liquid state by cooling it to below -163C. Essential requirements to set up LNG chain include investment in exploration and production, liquefaction, shipping, and storage and regasification. Planned LNG describes expansion of storage and regasification terminal capacities. This terminal also aids in lower transportation costs. LNG is a clean burning fuel majorly used for long vehicles. LNG helps in reduction of emissions, which prompts many fuel service providers to adopt LNG as an alternative fuel.
This report projects the trends and opportunities of the global planned LNG market. This research study includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period.
The market witnesses a significant demand owing to development of unconventional gas sources as well as advancement in offshore liquefaction technology & offshore gas exploration are some of the factors that augment the market growth. In addition, development of planned liquefaction plants and increase in demand for LNG significantly drives the market growth. In addition, rise in shale gas formations in the developed economies has reduced the reliability on natural gas imports, thereby creating surplus for LNG exports and in turn enhances the market growth. However, rise in installation costs of LNG terminals and the storage of LNG is expected to restrict the market growth to some extent. Furthermore, with the development of floating terminals and floating production storage offloading (FPSO) platforms, which are easily relocated at offshore fields at times of bad weather provides lucrative opportunities for the market players. Hence, development of floating terminals is expected to boost the market growth.
The global planned LNG market is segmented based on technology, end-user, and geography. On the basis of technology, it is bifurcated into liquefaction and regasification. On the basis of end-user, the market can be classified into residential, commercial, and industrial. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key market players in this sector include Shell Plc, LNG Croatia LLC, Chevron Corporation, Petrobras, Southern Union Company, Corpus Christi Liquefaction, LLC, Freeport LNG Development, L.P., Sempra Energy, ConocoPhillips Co., Queensland Gas Co. Ltd, and Skangass AS.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the current trends, estimations, and dynamics through 2017-2023, which assists to identify the prevailing market opportunities.
- Major countries in each region are mapped as per individual market revenue.
- Region-wise and country-wise market conditions are comprehensively analyzed in the report.
- Key players of the planned LNG market are also listed.
- This study evaluates the value chain to understand the competitive environment across geographies.
- An in-depth analysis of segmentation is provided to elucidate the prevailing market opportunities.
Planned LNG Market Key Segments:
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA