Market Research Report
World FLNG Market Forecast 2019-2024
|Published by||Douglas-Westwood||Product code||221351|
|Published||Content info||56 Pages
Delivery time: 1-2 business days
|World FLNG Market Forecast 2019-2024|
|Published: July 19, 2018||Content info: 56 Pages||
Based on Westwood's latest analysis of sanctioned and upcoming projects, global FLNG capital expenditure (Capex) is projected to total $52.8 billion (bn) over the 2019-2024 period.
As LNG exports take a foothold in the US, investment in floating liquefaction facilities in North America will play a pivotal role in global FLNG expenditure over the forecast, accounting for 45% of expenditure. A combination of drivers, including perceived technological maturity, an improved macroeconomic outlook, and cost reduction in the supply chain, will support an increase in project sanctioning over the next 24 months.
Following a 22-month hiatus in project sanctioning, the FLNG industry is moving into a ‘second wave' of developments, with the market opening up to a greater number of participants. The size and technical complexity/risk of early pioneer developments allowed only the largest NOCs and IOCs to move forward with projects on a balance-sheet financing basis. As more FLNG units become operational, we are seeing project structures and financing more akin to the well-established FPSO sector. This includes a move to syndicated project financing (e.g. as arranged for ENI's Coral South Unit) and Construction Financing / Sale and Leaseback structures (such as Golar's Hilli Episeyo unit.)
Increased gas demand driven by economic growth and fuel switching combined with ongoing concerns over energy security underpins the import vessels market. The key driver for the use of floating units remains the short lead-time from sanction to operation and consequently, tendering activity for FSRUs is expected to remain strong over the 2019-2024 period.
‘The World FLNG Market Forecast 2019-2024’ is presented using Westwood's SECTORS data with detailed analysis and commentary on eight distinct regions with a twelve-year market view - historic data covering the period 2013-2018 and forecast data for 2019-2024.
Westwood's SECTORS online data platform identifies project-by-project information, development timeline, and Capex details for both liquefaction and regasification vessels by service type. The report further provides detailed insight on: