Planned LNG Market

Planned LNG Market Size (2024-2029):

The Global Planned LNG Market size is estimated at US$ 145.48 billion in 2023 and is predicted to reach a valuation of US$ 264.84 billion in 2029 and is predicted to register a CAGR of 12.73% from 2024 - 2029.

Market Trends:

The development of unconventional gas sources, advances in offshore liquefaction technology and offshore gas discoveries, and fluctuations in crude oil supply are some of the factors driving the anticipated worldwide LNG market. The development of planned liquefaction plants and the escalating call for LNG are also contributing to the expansion of the market.

Market Drivers:

Increased exploration for shale gas has reduced dependence on natural gas imports and created a surplus for LNG exports. This, in turn, stimulates the predicted LNG market. The foreseen LNG market is predicted to experience significant expansion due to many factors such as technological advancement, escalating calls for LNG from Asia-Pacific, etc. The liquefied natural gas industry is transforming with the development of technology and the emergence of new sources of call. Technological advances make LNG gas production, liquefaction, and storage feasible at sea Floating liquefaction is a relatively new technology, compared to floating regasification, which has quickly established itself on the market. Some of the factors, like LNG's price benefit over other energy sources for end-use businesses, environmental advantages, monetary systems, and others, are predicted to drive industry expansion. Additionally, an increase in regasification capabilities in the Asia-Pacific region is driving market expansion. Some of the countries where LNG call is predicted to increase are China, India, and others.

Market Restraints:

The postponement of LNG projects is holding back market expansion. The escalation in the number of domestic and foreign terminals already finished, the escalation in the price of the building of LNG terminals, and the storage of LNG may hinder the predicted industry for LNG. The coronavirus epidemic (COVID-19) has negatively affected the LNG industry. Most of the LNG regasification projects stopped operations during the shutdown.

Market Opportunities:

Escalatingcall from different end-users such as manufacturers and retailers creates new opportunities in the coming years. Floating LNG production terminals can be parked directly above an offshore field and relocated once the field is depleted or in adverse weather conditions. Therefore, the development of floating terminals is predicted to increase the call for planned LNG terminals. Call from different kinds of end-user businesses is escalating the LNG customer base and offering lucrative opportunities in the industry.

Market Challenges:

The delay in the LNG project is one of the main factors hampering the predicted expansion of the LNG market. Most of the LNG projects were to start operations in 2021, but there is a delay due to the COVID-19 epidemic. These regions are among the main centers of call for LNG. However, China is the country most affected by the coronavirus in Asia, which could affect the worldwide market.

Market Recent Developments:

• Stade LNG developer to introduce non-binding open season in the coming few days London - Hanseatic Energy Hub, the developer of the planned LNG import terminal at Stade in northern Germany, plans to introduce "the in the coming few days "the non-binding phase of an open season to gauge market interest in the facility.
• Petronet launches the first commercial LNG bus in India. Gasoline and diesel were the main sources of fuel, and people realized that they were also major sources of air pollutants.

PLANNED LNG MARKET REPORT COVERAGE

Market Segmentation:

Planned LNG Market - By Technology:

• Liquefaction
• Regasification

liquefaction gained a significant market share in 2019. This is attributed to the increase in new liquefaction terminals or the expansion of liquefaction capacity in major exporting countries such as the United States, Qatar, Australia, and others. Furthermore, an onshore regasification terminal accounted for the largest market share in 2019. This is attributed to factors such as long-term security of supply, higher storage capacity, lower operating expenses, etc.

Planned LNG Market - By End-Use Industry:

• Residential
• Commercial
• Industrial

The industrial sector obtained the largest market share in 2019. This is attributed to the increase in the call for LNG from the industrial sector, due to increased concerns about pollution. For example, some countries in developed and developing regions have reduced their dependence on coal for power generation due to increased levels of pollution.

Market Regional Analysis:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

On the basis of region, Asia-Pacific had the highest share of the forecasted LNG industry in 2019. LNG regasification capacity is higher in the Asia-Pacific region due to the presence of larger countries. LNG importers such as Japan, South Korea, China, and India. China is predicted to become the largest importer of LNG in the coming years, due to increased calls from the industrial sector. Additionally, North America has the second-highest market share.

 The United States is one of the largest exporters of LNG, due to factors such as increased natural gas production; a decrease in natural gas imports through pipelines, a decrease in LNG imports, and expansion of the capacity of LNG export terminals. North America, Europe, and Asia-Pacific are predicted to dominate the forecasted LNG market in the near future. The growing call for energy in countries such as India and China has led to the development of planned LNG terminals in various locations. Escalatingcall for natural gas increased gas consumption for power generation, and cold weather in Europe are some of the factors driving the predicted LNG market. The expansion of LNG liquefaction capacity has also led to the development of planned LNG terminals in the United States, Australia, Iran, and Papua New Guinea. Increased gas discoveries and investments by foreign market players further drive the creation of planned LNG export terminals.

The difference in spot gas prices in the United States, Asia-Pacific, and Europe, and the increase in shale gas drilling in the United States and Canada are driving the expansion of planned LNG export terminals. This is attributed to factors such as the drop in activity in the industrial and commercial sectors. Escalating technological advancements and the growing call for LNG from the Asia-Pacific are fueling the planned worldwide LNG market expansion. North America accounted for the largest share in terms of revenue, with about half of the total worldwide LNG market share predicted in 2019. This is attributed to increased natural gas production in this region. However, LAMEA is estimated to have the fastest CAGR of 20.7% from 2022 - 2027.

Planned LNG Market Key Players:

Major players operating in the Planned LNG Market include

1. Shell Plc
2. LNG Croatia LLC
3. Chevron Corporation
4. Petrobras
5. Southern Union Company
6. Corpus Christi Liquefaction, LLC
7. Freeport LNG Development L.P
8. Sempra Energy
9. ConocoPhillips Co
10. Queensland Gas Co. Ltd
11. Inpex Corporation
12. Skangass AS
13. Emirates LNG LLC
14. Nippon Gas Co. Ltd
15. Prometheus Energy Company