Large-scale LNG Terminals Market – Snapshot
Liquefied natural gas refers to the form that is utilized in transport of natural gas through ocean over long distances. Liquefied natural gas or LNG terminals are those ports that are built to facilitate import and export of liquefied natural gas. The growth of the global large-scale LNG terminals market is likely to be influenced by the growing business of liquefied natural gas across the globe.
Liquefied natural gas or LNG terminals are particularly made and designed ports that are meant to load, store and then unload natural gas to several liquefied natural gas carrier ships. In other words, these terminals are utilized extensively in the business of exporting and importing liquefied natural gas to several destinations across the globe. This factor is likely to work in favor of the global large-scale LNG terminals market in the years to come. Large-scale LNG terminals comprise the terminals that come with the capacity of more than two MMTPA (metric million metric ton per annum).
LNG Terminals (either small scale or large-scale) are divided into the following
- built on onshore and offshore
- liquefaction and re-gasification terminals
Download PDF Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=8668
Increasing Demand for Clean Environment to Push for Use of Liquefied Natural Gas
The LNG exporting countries with lesser capacity of liquefaction is less than that of the LNG importing countries with higher capacity of re-gasification. The number of terminals or the capacity is dependent on the requirement of natural gas by different countries. Natural gas is a clean fuel, unlike crude oil and it assists in the reduction of air pollution. As such, it helps in the lessening of spread of air-borne diseases, which can be transmitted via countless toxic macro particles. This factor is likely to bolster growth of the global large-scale LNG terminals market in the forthcoming years.
In the last few years, there has been a rise in the number of oil and gas exploration and drilling activities worldwide, which is likely to pave way for rapid expansion of the global large-scale LNG terminals market in the near future.
More Trending Reports by Transparency Market Research – https://www.prnewswire.com/news-releases/nutritional-oil-powder-market-to-reach-a-valuation-of-us-3-2-bn-by-2027-market-to-be-driven-by-food-processing-industry-from-2019-to-2027-transparency-market-research-301006405.html
Global Large-scale LNG Terminals Market: Snapshot
Rising focus on shale gas production has changed the demand-supply demographic of several energy producing regions across the globe in the past few years. The shale boom in the U.S. is on the verge of making North America, a major importer of crude oil and natural gas in the past years, an exporter of LNG. The urgency to improve production and supply infrastructure owing to such changes is the key facilitator of growth for the global large-scale LNG terminals market.
The global consumption of LNG is also mounting owing to its cleaner nature compared to conventional petroleum-based fuels. With emission control norms becoming increasingly strict across the globe, domestic, commercial, and industrial sectors will be compelled to switch to cleaner fuels such as LNG in the near future. This factor will also provide a big boost to the overall development of the large-scale LNG terminals market in the next few years.
Transparency Market Research states that the global large-scale LNG terminals market will exhibit a 3.9% CAGR over the period between 2017 and 2024.
Request For the Customization – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=8668
Large-scale Regasification Terminals to Dominate
The segment of regasification terminals presently dominates the global large-scale LNG terminals market. The section accounted for a dominant share of nearly 56% in the global market in 2014. In the next few years, large-scale regasification capacities are expected to increase at a substantial rate across the globe, especially in Asia Pacific, North America, and Europe.
Countries across Asia Pacific, such as China and Japan are focusing on increasing the consumption of natural gas across the power generation, mining, and industrial sectors. This will lead to the increased need for floating and onshore large-scale LNG regasification terminals. In archipelagic topographies such as Indonesia, the rising consumption of LNG will boost the development of off-shore regasification terminals in the next few years. In terms of throughput, the market for large-scale LNG regasification terminals market will expand at over 5% CAGR from 2015 to 2024.
Asia Pacific Continues to Lead Large-scale LNG Terminals Market
In many countries in Asia Pacific, a continuous rise in the number of large-scale LNG terminals has enabled the easy access to natural gas at economic rates. This will facilitate the much needed shift from conventional fuels to natural gas in the transportation and power generation industries in Asia Pacific and encourage the increased adoption of natural gas.
Asia Pacific is presently the leading regional market for large-scale LNG terminals, accounting for a dominant share of over 45% in the global market in 2014. The region will continue to account for a major share in the global large-scale LNG terminal market over the period between 2015 and 2024 as well. Rising environmental concerns and fluctuating prices of crude oil will further encourage the adoption of a cleaner energy source such as natural gas across industrial as well as commercial sectors in the region.
The global large-scale LNG terminals market is characterized by high fragmentation and a rapid influx of new global vendors at a sustained pace. This has led to a substantial rise in production volumes and have brought the prices down, intensifying the competition and leveraging the bargaining power of buyers. Some of the major players operating in the market are Royal Dutch Shell plc, Exxon Mobil Corporation, Linde AG, ConocoPhillips Company, Petroliam Nasional Berhad (PETRONAS), and Nippon Gas Co. Ltd.
Request for covid19 Impact Analysis – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=8668
