Between 2019 and 2026, the annual compound growth rate of the global floating liquefied natural gas (FLNG) market is expected to exceed 5.2%, and its market value will reach about $17.5 billion in 2026.

A report by Acumen Research and Consulting said that the demand for clean energy technologies and sustained attention to sustainable energy structures will drive the development of the FLNG market.

The rapid consumption of fossil fuels and the continuous reduction of carbon footprint will promote the sound development of the industry.

According to the International Energy Agency (IEA), global natural gas supply increased by 4.6% in 2018 compared with 2017. The United States and China are the largest suppliers of gas production growth, accounting for more than 50% of the total growth.

Improving natural gas purchasing capacity and the growth of natural gas development enterprises will promote the development of FLNG industry.

Low capital cost, high flexibility and high execution efficiency are the main factors to stimulate FSRU demand. These facilities are widely used in many countries lacking national energy resources.

Floating gas storage and re-gasification system is a LNG storage vessel with a re-gasification workshop installed on the vessel, which can convert LNG into gas and then directly transport it to the natural gas pipeline network.

Stimulated by the growth of natural gas demand, the liquefied natural gas industry will witness growth, especially in high-consumption areas such as Asia-Pacific and the Middle East.

Compared with onshore liquefaction enterprises, cost efficiency, ability to transfer to multiple locations and adaptability to different well depths are important factors to improve brand recognition.

These vessels can transport, regenerate and store marginal natural gas areas and related offshore gas resources for multiple end-uses. Due to the low cost and rapid development progress, small/medium-sized ships will usher in rapid development. These devices are usually installed in detention areas where other ships are not economically viable.

Due to the rapid growth of infrastructure investment and the increase of public assistance, FLNG market in Asia-Pacific is expected to grow. The report says the Indian government is seeking to increase the share of natural gas in major energy structures.

The main players in the floating liquefied natural gas (FLNG) market include H?Egh LNG, Woodside Petroleum, Golar LNG, Exmar, Ophir Energy, Excelerate Energy, Mitsui O.S.K. Lines, Eni, Petronas, Royal Dutch Shell and Noble Energy. In addition, the main shipyards in the industry include Daewoo Shipbuilding and its associated companies, Samsung Heavy Industries, Mitsubishi Heavy Industries and Modern Heavy Industries.