Dallas, Texas (PRWEB) October 26, 2012
The next few years are set to see increased use of Floating Liquefied Natural Gas (FLNG) vessels in the global LNG industry, as distant ‘stranded’ natural gas fields are given new life through the pioneering technologies offered by FLNGs.
This new report “Floating LNG Terminals Industry - Global Market Analysis, Competitive Landscape and Planned Projects to 2016” examines the huge anticipated rise in FLNG vessel capacity, which is set to witness a shift in concentration from the American continents to the up-and-coming Asian region.
FLNG vessels are used in the production, liquefaction and offload of Liquefied Natural Gas (LNG) to carrier ships, and enable access to remote offshore natural gas industry left unexplored and undeveloped due to the high development costs that traditional LNG facilities would necessitate. Offshore LNG facilities can also avoid inland environmental laws, and be transferred to new locations in response to industry need.
The report discusses how technological developments have been instrumental in raising the profile of the global FLNG industry, which is slowly developing its presence in the global oil and gas industry. Analysis states that a total of 20 FLNG regasification terminals are planned across 13 countries for 2012-2016, representing a total regasification capacity addition of 3,488.5 billion cubic feet (bcf). These capacity additions will lead floating regasification capacity to account for 11.3% of global LNG regasification capacity.
Regional dominances in global FLNG regasification capacity will change substantially as a result. North America and South and Central America currently dominate global FLNG regasification capacity, with shares of around 40% each; but, by 2016, North America’s portion is expected to fall to around 26%, while South and Central America’s share will drop to around 20%. In contrast, the Asia-Pacific region is set to contribute a share of 25% to global capacity, despite the region holding no active FLNG regasification capacity at this moment in time.
Planned terminals expected to become operational during the next four years include Kakinada FLNG (Shell) and Pipavav FLNG in India, Fujairah FLNG in the United Arab Emirates (UAE), and Chittagong FLNG in Bangladesh. Europe’s share of global FLNG regasification capacity is also set to climb, albeit less impressively, from 8% in 2012 to 21% by 2016.
This research analyses the role of FLNG projects in the global Liquefied Natural Gas (LNG) industry amidst growing demand for natural gas, the need for an economical monetization option and increasing discoveries in remote offshore regions. The report also gives information on FLNG regasification and liquefaction markets covering processing capacities, major operating companies and key existing and planned projects to 2016.
Major Points from Table of Contents of the report “Floating LNG Terminals Industry - Global Market Analysis, Competitive Landscape and Planned Projects to 2016”:
1. Active Global Floating LNG Regasification Capacity Currently Amounts to 1,698.4bcf
2. Global Floating LNG Regasification Market to Record Planned Capacity Addition of 3,488.5bcf Between 2012 and 2016
3. North America and Asia-Pacific to be Largest Contributors to Global FLNG Regasification Capacity by 2016
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