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Market Research Report

World FLNG Market Forecast 2018-2023

Published by Douglas-Westwood Product code 221351
Published Content info 59 Pages
Delivery time: 1-2 business days
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World FLNG Market Forecast 2018-2023
Published: August 18, 2017 Content info: 59 Pages
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Our market forecasting is trusted by sector players worldwide, with clients including the world's top-10 oil & gas companies, top-10 oilfield services companies and top-10 private equity firms.
Description

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Given the strong fundamental drivers - increasing gas consumption due to economic growth, fuel switching, and energy security - the outlook for the import vessels will remain strong over the 2018-2023 period. Despite near-term concerns due to challenging market conditions, the incentive to use FLNG units to develop gas reserves in remote places remains compelling.

Global FLNG Capex to total $37.6bn, as the second wave of liquefaction projects gets final investment decision

The sanctioning of ENI's Coral South FLNG unit signalled the second wave of liquefaction vessels expected to be ordered over the forecast period. The start-up of pioneering projects, and the deployment of the first converted LNG carrier to FLNG unit, will serve as a proof-of-concept, supporting future investments. Given the strong fundamental drivers - increasing gas consumption due to economic growth, fuel switching, and energy security - the outlook for the import vessels will remain strong over the 2018-2023 period. Despite near-term concerns due to challenging market conditions, the incentive to use FLNG units to develop gas reserves in remote places remains compelling. However, a downside risk to the forecast remains, as operators continue to evaluate various alternative development options, including the use of existing onshore infrastructure, which may provide a more economically viable development option or concepts influenced by local political interventions.

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  • Global Capex on FLNG facilities is set to grow at a 9% CAGR over the 2018-2023 period, with expenditure forecast to total $37.6bn.
  • North America will account for the largest share of the market at 29%, with expenditure amounting to $11.1bn over the forecast.
  • Liquefaction vessels are expected to account for 70% of global FLNG expenditure over the forecast, with import facilities representing the remaining 30% of the market.
  • With 28 import vessels currently in operation, Westwood is expecting an additional 47 import vessels to be commissioned over the forecast period.
  • Expenditure on import vessels will total $11.2bn over the forecast. This represents an increase of 68% compared to the 2012-2017 period.

The report appendix includes information on all identified prospects for both liquefaction and import/regasification projects from 2018 to 2023 by operator, location, proposed unit capacity, status category, and onstream year.

Table of Contents
Product Code: ISBN 978-1-910045-54-1

Table of Contents

  • Table of Contents
  • Table of Figures
  • Table of Tables

1 Summary & Conclusions

  • Summary
  • Conclusions

2 Why Floating LNG?

  • Floating Liquefaction - Market Drivers
  • Onshore & FLNG Comparison & Definitions
  • Floating Liquefaction - Onshore Cost Comparison
  • The History of Floating LNG
  • Floating Regasification - Market Drivers

3 Floating Liquefaction

  • Hulls
  • LNG FPSO
  • Containment Systems
  • LNG FPSO Components
  • Liquefaction Plant Process Flow
  • Liquefaction Technology
  • Offloading

4 Floating Regasification

  • FSRU & Regasification Vessels
  • Topsides & Regasification Process
  • Destination LNG Offloading

5 Supply Chain

  • Liquefaction Pre-FEED/FEED Supply Chain
  • Liquefaction EPC Supply Chain
  • Floating Regasification Supply Chain
  • Financing
  • LNG Business Model
  • Shipyard Review
  • Leasing Contractors - Floating Liquefaction
  • Leasing Contractors - Floating Regasification

6 FLNG Projects

  • Oil Price Impact on FLNG Projects
  • Floating Regasification Projects
  • Floating Liquefaction Projects
  • Pioneer FLNG Projects

7 Market Forecast

  • Methodology
  • Methodology Cont
  • Liquefaction Vessels Capex - by Region
  • Liquefaction Vessels Capex - by Component & Services
  • Import Vessels Capex - by Region
  • Import Vessels Capex - by Component & Services
  • Global FLNG Capex - by Region
  • The Global FLNG Capex - by Component & Service
  • The Global FLNG Market by Facility Type
  • Africa
  • Asia
  • Australasia
  • Eastern Europe & FSU
  • Latin America
  • Middle East
  • North America
  • Western Europe

8 Appendix

  • Prospective Floating Regasification Vessels

Table of Figures

  • Figure 1: Global Capex on FLNG Facilities by Region 2012-2023
  • Figure 2: Regional Capex Percentage Comparison on FLNG 2018-2023
  • Figure 4: Top 10 countries with Proven Natural Gas Reserves (as at end 2016)
  • Figure 5: Process Diagram of the LNG chain
  • Figure 6: Indicative Capex by Service for a Floating Liquefaction Project ($/t/y)
  • Figure 8: Onshore vs. Offshore Liquefaction Terminal Capex ($/t/y)
  • Figure 7: Indicative Capex by Component for an Onshore Liquefaction Project
  • Figure 9: History of Floating LNG
  • Figure 10: Overview of Operational and Future LNG Facilities
  • Figure 11: Gas Consumption by Region 1990-2035
  • Figure 12: LNG FPSO Layout
  • Figure 13: Sloshing Inside a Tank
  • Figure 14: LNG FPSO Processing Scheme
  • Figure 15: Single Train Capacity for Several Liquefaction Process
  • Figure 18: FSRU Topside Process Block Diagram
  • Figure 17: Schematic of the Sea Water Vaporiser (Open-loop)
  • Figure 16: Submerged Combustion Vaporiser (Closed Loop)
  • Figure 19: LNG FPSO Pre-FEED & FEED Supply Chain
  • Figure 20: LNG FPSO Pre-FEED & FEED Supply Chain
  • Figure 21: Floating LNG Regasification Supply Chain
  • Figure 22: Typical Finance Project Structure
  • Figure 23: LNG FPSO Simplified Business Model
  • Figure 24: Natural Gas Prices ($/thousand btu) and Europe Brent Spot Prices ($/bbl), 2006-
  • Figure 25: Focus areas for FLNG export project development
  • Figure 26: Shell Prelude FLNG
  • Figure 27: Petronas PFLNG-Satu
  • Figure 28: Columbia FLSRU
  • Figure 29: Components of an FLNG vessel
  • Figure 30: Capex on FLNG Liquefaction Vessels by Region 2012-2023
  • Figure 31: Capex on FLNG Liquefaction Vessels by Component 2012-2023
  • Figure 32: Capex on FLNG Liquefaction Vessels by Service 2012-2023
  • Figure 33: Capex on FLNG Import Vessels by Region 2012-2023
  • Figure 34: Capex on FLNG Import Vessels by Component 2012-2023
  • Figure 35: Capex on FLNG Import Vessels by Service 2012-2023
  • Figure 36: Global Capex on FLNG Facilities by Region 2012-2023
  • Figure 37: Global Capex on FLNG Facilities by Component 2012-2023
  • Figure 38: Global Capex on FLNG Facilities by Service 2012-2023
  • Figure 39: Global Capex on FLNG Facilities by Type 2017-2023
  • Figure 40: Capex on FLNG Facilities in Africa by Type 2017-2023
  • Figure 41: Capex on FLNG Facilities in Asia by Type 2017-2023
  • Figure 42: Capex on FLNG Facilities in Australasia by Type 2017-2023
  • Figure 43: Capex on FLNG Facilities in Eastern Europe & FSU by Type 2017-2023
  • Figure 44: Capex on FLNG Facilities in Latin America by Type 2017-2023
  • Figure 45: Capex on FLNG Facilities in Middle East by Type 2017-2023
  • Figure 46: Capex on FLNG Facilities in North America by Type 2017-2023
  • Figure 47: Capex on FLNG Facilities in Western Europe by Type 2017-2023

Table of Tables

  • Table 1: Conventional FPSO Components
  • Table 2: Typical Natural Gas Composition
  • Table 3: Floating Liquefaction Lease Contractors and Operators
  • Table 4: Floating Liquefaction Projects
  • Table 5: Prelude, PFLNG and FLSRU Vessel Details
  • Table 6: Capex on FLNG Liquefaction Vessels by Region 2017-2023
  • Table 7: Capex on FLNG Liquefaction Vessels by Service 2017-2023
  • Table 8: Capex on FLNG Liquefaction Vessels by Service 2017-2023
  • Table 9: Capex on FLNG Import Vessels by Region 2017-2023
  • Table 10: Capex on FLNG Import Vessels by Component 2017-2023
  • Table 11: Capex on FLNG Import Vessels by Service 2017-2023
  • Table 12: Global Capex on FLNG Facilities by Region 2017-2023
  • Table 13: Global Capex on FLNG Facilities by Component 2017-2023
  • Table 14: Global Capex on FLNG Facilities by Service 2017-2023
  • Table 15: Global Capex on FLNG Facilities by Type 2017-2023
  • Table 16: Capex on FLNG Facilities in Africa by Type 2017-2023
  • Table 17: Capex on FLNG Facilities in Asia by Type 2017-2023
  • Table 18: Capex on FLNG Facilities in Australasia by Type 2017-2023
  • Table 19: Capex on FLNG Facilities in Eastern Europe & FSU by Type 2017-2023
  • Table 20: Capex on FLNG Facilities in Latin America by Type 2017-2023
  • Table 21: Capex on FLNG Facilities in Middle East by Type 2017-2023
  • Table 22: Capex on FLNG Facilities in North America by Type 2017-2023
  • Table 23: Capex on FLNG Facilities in Western Europe by Type 2017-2023
  • Table 24: Prospective Floating Regasification Vessels
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