21 Jul 2015 08:07:26
Small Scale LNG Terminals Market Estimated to Reach 102 MMTPA by 2022 a CAGR of 10.4% Due to Economical Distribution Factors
LNG is being used by numerous end-user industries and is among the most favored fuels. The clean burning attribute of LNG reduces emissions and this factor makes the fuel better to use than other fossil fuels. There is an essential requirement for LNG infrastructure to be improved since transportation of liquefied gas is more cost effective than constructing gas pipelines. At present, there are large scale LNG terminals that have been built worldwide to meet this need.
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Need for Gas Supply Security Prompts Investments in Small Scale LNG Terminals
The global LNG small scale market is estimated to reach 102 MMTPA at a CAGR of 10.4% by 2022. Transportation of natural gas to faraway inland demand centers from regasification centers situated in ports is proving to have its own set of limitations. These small scale centers are the best possible infrastructure expected to expand volumes of natural gas distribution for consumption. The security of gas supply in small demand centers has led to increased investment in small scale LNG terminals. The demand for small scale LNG terminals with tank sizes of 200,000 cubic meters or less, and lower throughputs than 300,000 tons per annum, is expected to grow globally over the next few years.
Onshore Liquefaction and Regasification Terminals Estimated to Expand
Small scale LNG terminals operate in two main infrastructure forms: Regasification terminals and liquefaction terminals. The vast majority of importers of LNG use regasification and exporters use liquefaction. These are further segmented into onshore and offshore types that can be located in onshore or offshore areas. With reference to types segment, liquefaction and regasification terminals onshore are expected to continue as the most prevalent type of small-scale LNG infrastructure through the next few years. Offshore infrastructure such as FSLUs and FSRUs are also anticipated to gain popularity over the coming years.
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Other market growth factors for the small scale LNG terminals can be attributed to addition of LNG bunkering and surface transportation increasing capacity for small scale liquefaction terminals. These capacity additions are estimated to grow over the years leading to 2022. Additionally, market drivers for small scale LNG terminals industry are: Rapid growth of smaller gas fields and increased preference for using gas as a clean fuel alternative. These factors have led to a rise in investments for small scale LNG terminals over that of megaprojects. Declining energy prices are another factor for the demand for small scale LNG terminals.
Other market growth factors include increased usage by power generation and industrial sectors and the development of small demand centers located near waterways generating demand for floating regasification units. Among the regional segments for small scale LNG terminals market, Asia Pacific and Europe are considered as accelerating markets. Small scale LNG terminals are already developed greatly in Norway and China. Countries in North America and Europe are predicted to lead the market for small scale LNG terminals due to their high environmental awareness. These regions are expected to use these terminals for LNG bunkering in the near future.
The market outlook for the small scale LNG terminals is optimistic globally, with more emphasis on liquefaction terminal installations.
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