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Global Large-scale LNG Terminals Market to Exhibit 2.20% CAGR from 2015 to 2023

Article Description

Liquefied natural gas (LNG) refers to natural gas that has been converted into liquid form for easy transport and storage. In developing economies, LNG is considered as one of the most commercially viable energy solutions for achieving their energy requirements. LNG is nontoxic, odorless, non-corrosive, and colorless. The global LNG trade accounted for around 240 million tons in 2013, which is around 30% of the global natural gas consumption. In recent years, the global LNG market observed several technological advancements. As a result, small-scale LNG terminals and large-scale LNG terminals are expected to witness high investments in the near future.

In 2014, the global large-scale LNG terminals market was valued at 2,684.8 MMTPA and is estimated to reach 4,664.7 MMTPA by the end of 2023. The market is projected to register a 2.20% CAGR between 2015 and 2023.

Browse the full Global Large-scale LNG Terminals Market report at http://www.mrrse.com/largescale-lng-terminals-market

Liquefaction Segment Dominated Large-scale LNG Terminals Market in 2014

The global market for large-scale LNG terminals can be divided on the basis of technology into liquefaction and regasification. These two segments are further sub-segmented into onshore and offshore. Liquefaction plants are called as exporting terminals and regasification plants are known as importing terminals. The transportation of LNG takes place between these two terminals. The basic LNG production comprises transportation of natural gas from the manufacturing unit to liquefaction terminals with the help of pipelines.

The increasing demand for LNG from the transportation and marine industries has offered new opportunities for the growth of the global market for large-scale LNG terminals. LNG terminals are designed differently for offshore and onshore oilfields, based on the surface and sub-surface conditions. Among the two segments, in 2014, the liquefaction segment of the global market for large-scale LNG terminals held a share of 55.95% in the overall market.

One of the key drivers for the growth of the global market for large-scale LNG terminals is the consideration of LNG as a substitute fuel source by big long-haul vehicle fleet owners. In addition, the tremendous increase in the consumption of LNG in comparison with other fuels is projected to boost the demand for large-scale LNG terminals in the coming years.

Asia Pacific Led Global Market for Large-Scale LNG Terminals in 2014

The global market for large-scale LNG terminals can be divided on the basis of geography into the Middle East and Africa, North America, South America, Europe, and Asia Pacific. In 2014, Asia Pacific dominated the overall market, holding a 47.26% share in the global market for large-scale LNG terminals. This region is estimated to remain in the leading position in the next few years owing to the increasing demand for LNG.

Asia Pacific is followed by North America, which held a share of 19.39% in the overall market. The tremendous growth in the production of shale gas in the U.S. is the major factor responsible for the significant growth in the demand for large-scale LNG terminals for liquefaction in this region. The decreasing production of oil and gas and tremendous increase in the demand for LNG are the key factors that are expected to make the Asia Pacific regional market one of the most attractive large-scale LNG terminal markets in the coming years.

The major players operating in the global market for large-scale LNG terminals include Petroliam Nasional Berhad, Exxon Mobil Corporation, Royal Dutch Shell plc, Gasum Oy, Santos Limited, ConocoPhillips Company, Rosneft, Statoil ASA, Nippon Gas Co. Ltd., Chevron Corporation, and Linde AG.