NEW YORK, Nov. 25, 2015 /PRNewswire/ -- Report Details
The global market for floating liquefied natural gas (FLNG) can be
divided into two distinct areas: the LNG FPSOs (Liquefied Natural
Gas Floating Production Storage and Offloading Vessel) and FSRUs
(Floating Storage and Regasification Units). This report addresses
both of these markets, quantifying the opportunity for growth
expected over the next ten years. Traditionally, LNG facilities
have been built onshore. Rising construction costs, times, and a
reluctance to commit to long term facilities have resulted in
increasing use of FLNG units as an alternative.
The oil price collapse in 2014 and into early 2015 has considerably
impacted investment in FLNG. This report includes in-depth analysis
and forecasting of the oil price, discusses the link between the
price of oil and of LNG, and discusses other driving factors that
will determine the price of LNG in the coming decade. All these
factors are incorporated into visiongain's FLNG CAPEX forecasts.
Visiongain values the global FLNG market at $6.19 billion in 2015.
Floating regasification vessels, in operation since 2005, allow for
flexible transportation of LNG. Three companies, Excelerate Energy,
Golar LNG and Höegh LNG have taken the majority of ownership of
floating regasification vessels thus far, though several more have
started to enter the market. There are currently 21 units
operational in Asia, Europe, the Middle
East, North America,
South America, and Southeast Asia. Floating regasification
vessels will be particularly useful in areas where there are, at
present, major gas shortfalls (e.g. Egypt, India,
Pakistan, Equatorial Guinea, and Bangladesh). The introduction of further
floating regasification vessels will continue throughout the world,
however, since they are less expensive per mmtpa (million metric
tonnes per annum) of capacity, are built to deadline, and are
faster to build than onshore facilities. They can be used as well
for short periods (under 5 years) or long periods (over 5 years)
and can be leased or owned, whereas onshore terminals are
constructed for decades of use.
Floating liquefaction has been proposed as an economical solution
to monetising stranded and associated gas. As of March 2015, there are no floating liquefaction
vessels in operation, though the Exmar and Pacific Rubiales vessel
will commence operation off the northern coast of Columbia in mid-2015. Petronas' first vessel
is also due to become commercially operational in late 2015 off the
coast of Malaysia. Generating the
most attention in the FLNG market is Shell's Prelude, the most
expensive FLNG vessel to date, due to come online by 2017 for use
off the west coast of Australia.
These three vessels represent the wide range of capacity floating
liquefaction vessels can have; the Shell vessel is of the large
variety, producing over 3 mmtpa of LNG. The Petronas vessel is of
the medium-sized variety, and will produce 1-2 mmtpa, whereas the
Exmar/Pacific Rubiales vessel will produce just .5 mmtpa. Despite
only three liquefaction vessels in production there are a number of
conceptual designs at different stages of project development due
to come online throughout the forecast period. This report includes
an expert interview with one of the companies driving new LNG FPSO
design. Visiongain anticipates a handful of final investment
decisions (FID) will be taken over the next three years. The
technical intricacies of constructing FLNG production facilities
will ensure a build time of between three and five years depending
on the design.
Why you should buy The Floating Liquefied Natural Gas (FLNG) Market
2015-2025
What is the future of the FLNG market? How will the great
uncertainties in the LNG market impact spending on FLNG? How has
the oil price collapse in 2014 impacted CAPEX on FLNG vessels? Who
are the major companies involved in the market, and what is their
market share? Visiongain's comprehensive analysis contains highly
quantitative conte
Read the full report:
http://www.reportlinker.com/p02813807-summary/view-report.html
About Reportlinker
ReportLinker is an award-winning market research solution.
Reportlinker finds and organizes the latest industry data so you
get all the market research you need - instantly, in one place.
http://www.reportlinker.com
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/floating-liquefied-natural-gas-flng-market-2015-2025--capex-prospects-for-lng-fpsos--fsrus-in-a-lower-oil-price-climate-300184676.html
SOURCE Reportlinker