Small Scale Lng Terminals Market Sales, Share, Growth and Forecast 2027
Key Highlights
- The global small scale LNG terminals market was around 70.90 MMTPA in 2018 and is anticipated to rise at a CAGR of more than 10.4% during the forecast period
- The regasification segment accounted for major share of the small scale LNG terminals market in 2018, due to the increasing demand and consumption of natural gas in automotive and industrial sector
- The onshore segment held prominent share of the small scale LNG terminals market in 2018. High demand of onshore facilities for supply of LNG to the urban transportation network as well as to LNG bunkering facilities.
- Asia Pacific is expected to grow at a significant pace in the near future, due to the rising demand for natural gas in the region as a cleaner alternative to coal and refined products for power generation and as a fuel, especially in developing countries such as China and India
Small Scale LNG Terminals Market Driven by Rising Demand for LNG
The small scale LNG terminals market faces promising prospect ahead as US Energy Department reported a near 100% rise in LNG exports during 2018-19 period. In 2018, the total domestically manufactured LNG in the US, one of the world’s biggest exporter, stood at 1,972.3 Billion cubic feet (bcf). The figure rose to an incredible 3,379.9 bcf of natural gas at the end of 2019. Additionally, the demand for the products has risen considerably in new regions including those of Latin America, wherein 933.8 bcf were exported which made the region extremely prominent in the market with a share of 27.6% in Oct 2019.
The growing demand for LNG products, and promising opportunities in small LNG terminals will drive tremendous growth for the market. Growing demand for bunker fuels will drive robust growth for the small scale LNG terminals market in the near future. The growing demand for sustainability, and recent changes in European naval regulations will drive growth for the liquid variety of natural gas in the near future.
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Global Small Scale LNG Terminals Market – Key Developments
- In November 2018, Avenir LNG Limited announced that the company would be collaborating with Golar Power Limited in order to develop small-scale LNG market in Brazil. The company’s second LNG Carrier of 7,500 cubic meter capacity would be delivering LNG to various ports across Brazil. The vessel would also possess ship-to-ship bunkering capability, which is an aspect of company’s global multi-nodal bunkering solution.
- In April 2019, Bengal Concession Private Limited (BCPL) a subsidiary of H-Energy announced its plan to commission its upcoming LNG Re-gasification (RLNG) terminal in West Bengal, India by May 2021. The upcoming LNG terminal is expected to have regasification capacity of around 1.5-3 MMTPA, which would be further expanded up to 5 MMTPA in the future. BCPL also intends to develop a small scale LNG regasification and storage terminal on the banks of Hooghly River in Matriramchak village, East Medinipur, West Bengal, India.
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