Global Large-scale LNG Terminals Market Expands at an Accelerated Pace due to Growing Demand for LNG

Liquefied natural gas (LNG) constitutes a large part of the energy mix decided by several developing nations of the world, as it is the best commercially and environmentally viable energy source. Therefore, it has played a crucial role in the development of economies in Asia Pacific. A research report suggests that LNG trade across the world stood at 240 million tons in 2013, which is about 30% of the total natural gas consumption. With increasing technological developments, the overall LNG industry has expanded by leaps and bounds. The increasing investment in this industry has also given a massive impetus to the large-scale LNG terminals market across the globe.

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Large-scale LNG terminals are built to meet the requirements of large supply and demand centers. These terminals are designed to transport natural gas from production centers to ships, trucks, and other locations through pipelines. The gas is transported in the form of liquefied natural gas (LNG). The most convenient mode of transport for large-scale terminals is ships and pipelines.

Global Large-scale LNG Terminal Market to be Driven by Demand from Marine and Transportation Sectors

LNG is transported between liquefaction plants or exporting terminals and regasification plants and importing terminals. Usually, in LNG production processes, the gas is transported from the production fields to liquefaction terminals via pipelines. The increasing demand for LNG in the transportation and marine industries has offered several growth opportunities to the global large-scale LNG terminal market.

The global large-scale LNG terminals market is segmented on the basis of technology and geography. On the basis of technology, this market is segmented into liquefaction and regasification depending on whether the project is onshore or offshore. Offshore and onshore oilfields use different types of terminals, depending on the sub-surface and surface conditions. Geographically, this market is segmented into North America, Asia Pacific, Europe, South America, and the Middle East and Africa.

Growing Demand for LNG in Asia Pacific Keeps the Region at Forefront

Statistics show that Asia Pacific held the largest share of 47.26% in the overall large-scale LNG terminals market in 2014. According to analysts, this region is expected to continue its dominance in the coming years due to a growing demand for LNG in the region. North America followed this market, with a 19.39% share in the global large-scale LNG terminals market in 2014. The large-scale LNG terminals market in the U.S. is mainly being driven by the escalating shale gas production. The existing market dynamics indicate that Asia Pacific will be the most lucrative market in the coming years due to decreasing production of oil and gas and increasing consumption of LNG.

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The key players operating in the global large-scale LNG terminals market are Nippon Gas Co. Ltd, Linde AG, Exxon Mobil Corporation, Royal Dutch Shell plc, Chevron Corporation, Santos Limited, Petroliam Nasional Berhad (PETRONAS), Statoil ASA, Gasum Oy, ConocoPhillips Company, and Rosneft. With such strong growth drivers, the global at large-scale LNG terminals market is expected to reach 4,664.7 MMTPA by the end of 2023 from 2,684.8 MMTPA in 2014, registering a steady CAGR of 2.20% from 2015 to 2023.

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