Floating Liquefied Natural Gas Market by Capacity, Technology

Description

List of Tables

[186 Pages Report] The Floating Liquefied Natural Gas Market size was estimated at USD 17.07 billion in 2023 and expected to reach USD 17.94 billion in 2024, at a CAGR 5.42% to reach USD 24.71 billion by 2030.

The Floating Liquefied Natural Gas (FLNG) market involves the processes and technologies used to convert natural gas into liquefied natural gas (LNG) at sea using floating facilities. FLNG reduces the need for land acquisition and extensive pipeline networks, offering a cost-effective solution to natural gas exploitation. FLNG helps exploit resources in offshore locations, mitigate risks associated with onshore unrest or geopolitical conflicts, and contribute to market expansion. Continuous enhancements in FLNG technology have made operations more reliable and efficient. However, The operation under extreme weather conditions and remote locations adds layers of technical complexities in deployment of FLNG solutions. Stringent environmental laws and maritime regulations may limit operational capacities and locations, limiting the market scope. Moreover, ongoing developments in modular liquefaction plants on floating devices can generate growth potential into smaller and previously uneconomical gas fields, enlarging the market scope. Ongoing research to decrease the environmental footprint of FLNG operations could facilitate smoother regulatory approvals and enhance corporate responsibility.

KEY MARKET STATISTICS
Base Year [2023]	USD 17.07 billion
Estimated Year [2024]	USD 17.94 billion
Forecast Year [2030]	USD 24.71 billion
CAGR (%)	5.42%

Regional Insights

In the Americas region, the United States and Canada have been significant countries in the FLNG market due to their robust natural gas production capabilities and technological advancements. Customers in the region benefit from the flexibility and cost-effectiveness that FLNG units offer, which is essential in catering to the domestic and export-oriented liquefied natural gas (LNG) demand. Recent investments in the Americas region have been focused on increasing export capacities and improving floating production storage and offloading (FPSO) technologies. The European market, particularly in countries such as Norway and the UK, has expressed a growing interest in FLNG technology mainly for its lower environmental impact and quicker deployment compared to onshore facilities. In the Middle East region, Countries such as Qatar and the United Arab Emirates are leveraging FLNG to maintain their stance as key LNG exporters. In the African region, with significant untapped gas fields, African nations such as Mozambique and Nigeria are exploring FLNG to bypass geographical and political challenges. In the APAC region, China has been aggressively pursuing FLNG as part of its strategy to secure a diverse and secure energy mix. China focuses on reducing urban air pollution by increasing natural gas utilization in its energy portfolio. In Japan and India, FLNG offers a flexible solution to diversify their energy sources and enhance energy security. Australia's government and major LNG companies are focusing on developing the northern regions through maritime and FLNG infrastructures, contributing to the market growth in the region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Floating Liquefied Natural Gas Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Technological advancements in FLNG technology
- Ongoing investments in Oil & Gas sector
- Growing demands for cleaner energy sources

Market Restraints
- Operational difficulties in extreme weather conditions and remote locations

Market Opportunities
- Developments in modular liquefaction plants on floating devices
- Ongoing research to decrease the environmental footprint of FLNG operations

Market Challenges
- Stringent environmental laws and maritime regulations

Market Segmentation Analysis
- Capacity: Increasing preference for large-scale FLNG facilities to cater rising global demand
- Technology: Exploring pretreatment systems to remove impurities before liquefaction

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Floating Liquefied Natural Gas Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Floating Liquefied Natural Gas Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Cedar LNG Advances with Key Sales Agreements in North America Region

Cedar LNG, a partnership between Haisla Nation and Pembina Pipeline Corporation, has secured vital long-term sales agreements enabling the commencement of engineering and construction activities for the proposed floating LNG facility in Kitimat, British Columbia. This agreement is poised to strengthen the business presence of Cedar LNG in the North Americas region, attracting a new customer base. [Published On: 2024-04-05]

Strategic Expansion of Petronas in Argentina, FLNG Developments and Collaborative Ventures Set to Enhance Global LNG Market Presence

Malaysia's Petronas is intensifying its business presence with the initiation of an offshore floating LNG (FLNG) unit off Argentina's coast. This strategic expansion underscores Petronas' proactive approach in tapping new markets and also fortifies its standing in international LNG commerce. Concurrently, Petronas collaborates with Argentina's state-controlled energy company, YPF, on an onshore LNG facility, projected to contribute substantially to the country's LNG output with an additional 20 MTPA. [Published On: 2024-03-20]

Acceleration and Expansion of Congo's LNG Capabilities, The Eni Tango FLNG Initiative

Eni has commenced the introduction of gas into its state-of-the-art Tango Floating Liquefied Natural Gas (FLNG) facility. With a liquefaction capacity set at approximately 1 billion cubic meters annually, Tango FLNG, alongside the Excalibur Floating Storage Unit, employs a pioneering "split mooring" setup, enhancing operational efficacy, marking its debut in a floating LNG setting. Furthermore, Congo's LNG project aims to amplify the Marine XII permit's gas outputs to nearly 4.5 BCMA through phased enhancements while adhering to a zero routine gas flaring commitment. [Published On: 2023-12-28]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Floating Liquefied Natural Gas Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Floating Liquefied Natural Gas Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Air Products and Chemicals, Inc., Alfa Laval, BASF SE, Bureau Veritas, Chiyoda Corporation, Eni S.p.A., Excelerate Energy, Inc., EXMAR, Golar LNG Limited, Hoegh LNG, Linde Engineering, Mitsui O.S.K. Lines, Ltd., MODEC, Inc., Petroliam Nasional Berhad, Shell PLC, and Woodside Energy Group Ltd..

Market Segmentation & Coverage

This research report categorizes the Floating Liquefied Natural Gas Market to forecast the revenues and analyze trends in each of the following sub-markets:

Capacity
- Large Scale
- Small/Mid-Scale

Technology
- Liquefaction Technology
- Offloading Systems
- Pretreatment
- Storage

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-4D00F1312C75

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Technological advancements in FLNG technology
  - 5.1.1.2. Ongoing investments in Oil & Gas sector
  - 5.1.1.3. Growing demands for cleaner energy sources
- 5.1.2. Restraints
  - 5.1.2.1. Operational difficulties in extreme weather conditions and remote locations
- 5.1.3. Opportunities
  - 5.1.3.1. Developments in modular liquefaction plants on floating devices
  - 5.1.3.2. Ongoing research to decrease the environmental footprint of FLNG operations
- 5.1.4. Challenges
  - 5.1.4.1. Stringent environmental laws and maritime regulations
5.2. Market Segmentation Analysis
- 5.2.1. Capacity: Increasing preference for large-scale FLNG facilities to cater rising global demand
- 5.2.2. Technology: Exploring pretreatment systems to remove impurities before liquefaction
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Floating Liquefied Natural Gas Market, by Capacity

6.1. Introduction
6.2. Large Scale
6.3. Small/Mid-Scale

7. Floating Liquefied Natural Gas Market, by Technology

7.1. Introduction
7.2. Liquefaction Technology
7.3. Offloading Systems
7.4. Pretreatment
7.5. Storage

8. Americas Floating Liquefied Natural Gas Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Floating Liquefied Natural Gas Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Floating Liquefied Natural Gas Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Cedar LNG Advances with Key Sales Agreements in North America Region
- 11.3.2. Strategic Expansion of Petronas in Argentina, FLNG Developments and Collaborative Ventures Set to Enhance Global LNG Market Presence
- 11.3.3. Acceleration and Expansion of Congo's LNG Capabilities, The Eni Tango FLNG Initiative
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio