Middle East FLNG Market size is projected to grow at a significant CAGR from 2021 to 2027, according to a latest forecast report by Graphical Research.
Middle East Market growth is owing to rising demand for natural gas coupled with its ability to generate safer, cost-effective and cleaner fuel. Floating Production Storage and Offloading (FPSO) FLNG terminals provide storage, production and separation of offshore hydrocarbon fluids at the terminal. In addition, increasing demand for sustainable energy along with shifting focus toward clean fuel technology will augment the business spectrum.
Pandemic outbreak has affected oil and gas demand in the Middle East. Lockdown implementation to contain COVID- 19 virus have considerably decreased the usage of all kinds of industrial activities, automobile facilities, shipping, and transportation industry. However, with current ease in lockdown measures have increased the economy and further recovered the fuel demand across the region.
Ongoing investments in E&P activities along with shifting focus toward extraction and processing of natural gas from offshore fields will stimulate FLNG industry growth. FLNG terminal’s ability to provide cost effective solutions for liquefying, storing and processing of natural gas along with current scenario of fossil fuel depletion and environmental benefits associated with natural gas will further complement the business growth.
Browse detailed statistical insights from the report, “Middle East FLNG Market Forecast 2027 By Capacity (Small/Mid-Scale, Large Scale), By Technology (LNG FPSO, FSRU), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Low investment cost, enhanced flexibility, less space requirement and fast track implementation along with extensive applicability of FLNG across the globe will fuel demand for FPSO units. In addition, deployment in economically unviable reserves coupled with increasing consumption of LNG combined with rising number of offshore floating projects will further stimulate the product spectrum.
FLNG ships with large-scale capacity will witness fast deployment on account of less capital cost and brief development schedule. Moreover, these ships provides benefits like reliability, flexibility, adaptability and cost efficiency which in turn will sway the industry scenario. In addition, latest government projects to encourage new floating import unit’s construction along with new investment activities to develop national FLNG infrastructure will further accelerate the industry landscape.
Turkey FLNG industry is anticipated to show tremendous growth till 2027 due to ongoing government initiatives for green energy coupled with growing investment toward FLNG infrastructure development. Moreover, growing demand for flexible and cost-efficient LNG distribution units will further drive the market demand. For instance, in June 2021, Turkey launched its first floating LNG storage and regasification vessel, the Ertugrul Gazi FSRU owned by Botas which is a Turkey’s state-owned crude oil and natural gas pipelines and trading company. Furthermore, the FSRU have storage capacity of 110 million standard cubic meters of natural gas which will fuel domestic LNG demands in the country.
The FLNG in Middle East market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Middle East Market, By Technology
- LNG FPSO
- Large scale
- Large scale
Middle East, By Capacity
- Large scale
The above information has been provided for the following countries: