A strong recovery in expenditure on LNG facilities now underway worldwide driven by a growing demand for natural gas. The new eighth edition of "World LNG Market Forecast" expects that global Capex will total nearly $228bn during the 2013-2017 period, an increase of 109% over the preceding five years.
The spending surge includes capital expenditure on base-load onshore and offshore fixed LNG liquefaction, LNG carriers and LNG regasification via both onshore and offshore fixed import terminals.
Report author, Michelle Gomez, commented, "Activity over the next five years is underpinned by huge financial commitments to both liquefaction projects and gas import facilities. The liquefaction developments will drive expenditure, with Australasia and North America playing a fundamental role in bringing new supply into the international market."
"Spend will peak in 2015 and decline slightly in 2016 and 2017. This is due to the surge of Australian LNG export projects reaching completion. The decline is, however, offset to some extent by significant growth in most other regions, particularly Eastern Europe & FSU, Africa and Asia. Liquefaction developments will contribute $143bn (63%) of forecast Capex. Import terminals' spend will grow and total $50bn (22%). Gas carrier expenditure will increase at a CAGR of 25% and total $35bn (15% of forecast Capex.)"
The report details LNG trends by region and facility type, supported by analysis and insight from strategy teams within shipping companies, contractors, shipbuilders, oil & gas operators, gas utilities and financial institutions.
Essential reading for companies associated with the LNG industry and potential entrants, the report focuses on:
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