World FLNG Market Forecast 2017-2022

World FLNG Market Forecast 2017-2022
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Summary

Despite challenging market conditions, global capital expenditure (Capex) on FLNG facilities is forecast to increase significantly over the 2016-2022 period. The protracted oil price downturn has impacted the sanctioning of capital intensive liquefaction units over the last 24 months. However, the need to move towards cleaner sources of energy and diversify gas supply has stimulated the floating regasification market – over 14 countries are expected to commission their first floating import unit over the forecast period.

Global FLNG Capex to total $41.6 billion (bn) to 2022, compared with $11.4bn over 2011-2015 – an increase of 264%. Liquefaction vessels will account for approximately 59% of forecast expenditure, with the remaining 41% allocated to import and regasification terminals. Near-term growth in expenditure will be predominantly driven by a number of flagship liquefaction projects sanctioned prior to the oil price downturn.

Global expenditure is expected to peak in 2017 as the first wave of sanctioned projects come onstream. Reduced project sanctioning will likely impact the market towards the end of the decade – with expenditure forecast to decline significantly in 2019 – before stagnating over the 2019-2021 period. Long term prospects are positive, a marginal uptick in spending is expected in 2022, driven by the sanctioning of a second wave of capital intensive liquefaction projects. Over the forecast period, Africa and Asia will be key areas for liquefaction and regasification units – with both regions accounting for 54% of total global expenditure. Spend in Australasia is set to decline post 2018 after the installation of the Prelude FLNG.

Despite near-term concerns, the long term viability of FLNG technology is clear. In the decades ahead, natural gas will continue to play an increasingly important role in meeting global energy demand. Furthermore, the rising cost of onshore development terminals and the shorter lead times of floating units makes the technology a viable option in the current market environment.

Scope

The World FLNG Market Forecast 2017-2022 forecasts activity through to 2022 and contains analysis of:

  • Market Drivers and Trends – including the monetisation of stranded gas reserves, security of supply, onshore terminal costs, environmental solutions and increasing long-term gas demand.
  • The FLNG Supply Chain – operators, FLNG leasing, EPC contractors, vessel yards, topside sub-contractors and financing analysis.
  • FLNG Import and Export Capacity – prospective installations over 2016-2022, forecast for the required Capex to bring this capacity online. This includes construction of base-load FLNG liquefaction and import (regasification) vessels.
  • Capex Breakdowns – expenditure for liquefaction and regasification vessels segmented by component looking at topsides, hull & containment systems and mooring & transfer systems. And by service, including technology licencing, FEED, detailed design engineering, construction engineering, installation, hook-up & commissioning and construction of hull & topsides.
  • Regional analysis – Africa, Asia, Australasia, Eastern Europe & FSU, Latin America, Middle East, North America and Western Europe.

Reasons to Buy

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. Our proven process includes:

  • Unique and proprietary data – updated year-round from published sources and insight gained from industry consultation.
  • Methodology – the report uses research from ‘World LNG Projects Database’, an in-house information system. Our global analyst team is involved in the gathering and analysis of FLNG market data through primary research and professional networks. A project-by-project review of development prospects drives a data-rich market model and forecast; with the timing of expenditure phased to reflect the commercial structures of likely projects.
  • Market forecasts – comprehensive examination, analysis and 14-year coverage of FLNG expenditure.
  • Concise report layout – delivering value for our clients, all our market forecasts have a concise layout consisting of industry background and supporting materials condensed to enable quick review with ‘speed-read’ summaries of key points throughout.
  • An essential report – for engineering houses, contractors, shipping companies, vessel lease operators, shipbuilders, oil & gas operators, gas utilities and financial institutions wanting to better understand where and when to make investment decisions.

Date Published

August, 2016

Format/Pages

PDF