Liquefied Natural Gas (Lng) Infrastructure Market Is Set To Grow To $63,606m In 2017
09 August 2017
Visiongain’ has launched a new energy report The Liquefied Natural Gas (LNG) Infrastructure Market 2017-2027: Global Expenditure CAPEX ($mn) and Capacity (MMTPA) on Large-Scale Onshore LNG infrastructure, by Liquefied Natural Gas (LNG) Infrastructure type - Liquefaction and Regasification Plus Analysis of Leading Companies
Natural gas is conventionally transferred via pipelines. However, offshore pipelines are less viable and are generally limited to short to medium distances offshore. Numerous maritime countries such as Japan, Australia and Indonesia have no direct pipelines connecting them to their natural gas trading partners. Therefore, to transport the natural gas across the water a process known as cryogenic liquefaction is performed. This creates LNG and reduces the volume of gas to 600th of its original volume, making it feasible to transport the LNG in a specialised LNG carrier. After the LNG is transported it can be regasified at an on- or off-shore regasification terminal, stored for regasification at a later date, or used in LNG form as a fuel for ships or land-based vehicles.
There are a number of exciting LNG liquefaction prospects around the world in 2016, both under construction and perspective. The question is whether the demand of East Asia will be strong enough to support the economics of an abundant supply of liquefaction opportunities. The decline of the US as an import market for LNG has troubled financiers but has been balanced by demand in Asia, East Asia and emerging demand in South America.
The visiongain report analyst commented “LNG availability has been tight over the past few years on account of an unexpected surge in both Japanese and South Korean demand following the Fukushima Daiichi nuclear disaster of 2011. In Japan, nuclear power generation had been shuttered in the wake of the psychological trauma that the disaster caused; whilst in South Korea, concerns about nuclear safety have led to a number of unanticipated closures of nuclear power plants. During this period, Chinese demand also continued to surge off the back of a central government strategy to increase the share of natural gas in the nation’s overall energy consumption. This demand-side context has been further strengthened by the needs of India.”
Leading companies featured in the report who are developing LNG Infrastructure facilities include BHP Billiton, ExxonMobil, BP, ConocoPhillips., Total S.A, Linde AG, Royal Dutch Shell, PETRONAS, Chevron Corporation & Rosneft
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