Global Floating Liquefied Natural Gas (FLNG) Market Growth Outlook to 2028

Global Floating Liquefied Natural Gas (FLNG) Market Growth Outlook to 2028

The development of the FLNG market is strongly supported by its potential to unlock smaller gas fields, new offshore gas discoveries, remote operations, lower capital and operational expenditure, redeployment flexibility, low political risk, and unmanned operations are some of the factors driving FLNG market growth.

Furthermore,the rising labor costs, workforce activism, community opposition, complex environmental approvals, infrastructure challenges related to the onshore field stimulating the growth of the FLNG market.

With the outbreak of Covid-19, JKM dropped to below USD 1.85 per MMBTU, and prevailing bearish sentiments have delayed the natural price recovery. Shell has to shut down its largest floating LNG project in Australia worth USD 17 billion.

The demand for natural gas in China is expected to grow at 4 percent annually. USA, Australia, Russia, and Turkmenistan are expected to be significant LNG suppliers, but falling LNG prices and the extent to which it would affect global markets is uncertain. The Asian LNG prices should be high enough to make FLNG projects commercially viable.

Japan, as the world’s largest LNG market and one of the leading ship-builders shown keen interest in FLNG but the shale gas revolution in the USA, along with technological development, makes offshore gas production costlier coupled with low LNG spot prices in Asian markets.

Blackridge Research’s report provides insight into the current global and regional market demand scenario and its outlook. Our study offers a detailed analysis of various factors instrumental in affecting the growth of the FLNG market. It provides a perspective on various market opportunities and threats and a detailed analysis of the competitive landscape in the FLNG market.
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