Transparency Market Research (TMR) has announced the publication of a new report on the global large-scale LNG terminals market. The report takes into account the market’s statistics in 2014 and the historical trajectory exhibited by the market in the last few years to present reliable forecasts about the market’s trajectory in the 2015-2023 forecast period. The report is titled ‘Large-scale LNG Terminals Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023’ and is available for sale on TMR’s official website.According to the report, the production capacity of the global large-scale LNG terminals market was close to 2,685 million metric tonnes per annum (MMTPA) in 2014. Exhibiting a moderate but steady CAGR of 2.2% from 2015 to 2023, the market is expected to rise to a capacity of 4,664.7 MMTPA by the end of the forecast period.
LNG, or liquefied natural gas, is an increasingly important part of the global natural gas market and accounted for 30% of the global natural gas market in 2014. Due to the convenience of transporting liquefied natural gas, its demand has soared, necessitating the construction of new terminals. Large-scale LNG terminals are constructed to satisfy the demand of major consumers.
The two major types of LNG terminals are liquefaction terminals, where natural gas is compressed into liquid form, and regasification terminals, where LNG is turned into gaseous natural gas for further use. Due to the increased transport of LNG in liquid form and the increasing demand for direct use of liquefied gas, the liquefaction terminals segment accounted for a dominant 55.6% of the global large-scale LNG terminals market in 2014. The report provides detailed figures relating the performance of the market for both liquefaction and regasification large-scale LNG terminals. The difference between the demand for onshore and offshore large-scale LNG terminals is also elaborated upon in the report.
largescale-lng-terminals-marketOn the basis of geography, Asia Pacific accounted for the dominant share in the global large-scale LNG terminals market in 2014. The regional market took up 47.26% of the global market in 2015 on the back of the increasing demand for LNG from developing economies such as Indonesia, China, India, South Korea, Japan, and Thailand. The promise shown by the Chinese and Indonesian oil and gas industries in recent years means that the Asia Pacific market for large-scale LNG terminals is likely to remain in a dominant position in the global market in the coming years.
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Following Asia Pacific, the North America market for large-scale LNG terminals held a 19.4% in the global market in 2015. The North America large-scale LNG terminals market is expected to be driven by the increasing production of shale gas. The Middle East and Africa market for large-scale LNG terminals is also expected to make up a significant part of the global market in the forecast period.
The report also presents detailed information on the competitive landscape of the global large-scale LNG terminals market. The major players profiled in the report include Chevron Corporation, Exxon Mobil Corporation, Nippon Gas Co., Royal Dutch Shell plc, PETRONAS, and Santos Ltd.
The global large-scale LNG terminals market is segmented as follows:
Large-scale LNG Terminals Market: By Technology
Liquefaction
- Onshore
- Offshore
Regasification
- Onshore
- Offshore
Large-scale LNG Terminals Market: By Region
North America
- U.S.
- Rest of North America
Asia Pacific
- Indonesia
- Rest of Asia Pacific
Europe
- Russia
- Spain
- Rest of Europe
South America
- Peru
- Rest of South America
Middle East & Africa
- Qatar
- Nigeria
- Rest of Middle East & Africa
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