Floating LNG Terminals - Technological Innovation and Low Cost Monetization of Offshore Gas Reserves Will Play Key Role in Global LNG Industry Growth FLNG Production Terminals to Emerge as a Low Cost Solution for Monetization of Offshore Gas Reserves In recent years, the number of offshore gas discoveries has increased. However, not all offshore discoveries can be commercially developed as they require high capex (capital expenditure) to construct the required infrastructure to transport the gas to shore. In most cases, natural gas from such areas is either flared off or re-injected into reservoirs. To monetize such gas reserves, several companies have been developing floating liquefaction technologies which allow the offshore vaporization of natural gas. Such FLNG production facilities would reduce the per ton capex of floating liquefaction compared to land based terminals with have a much higher capex. The cost reduction is largely a result of the elimination of the requirement for the land based facilities and long, under-sea pipelines which are used in land based LNG production terminals. FLNG projects also reduce the carbon footprint associated with onshore LNG production terminals. As a result of such advantages, FLNG projects in countries such as Papua New Guinea and Nigeria are expected to commence operations by 2015. Major oil and gas companies have begun to explore the opportunities presented by FLNG projects. Companies such as Flex LNG, Hoegh LNG, Samsung, Daewoo, Mitsubishi and Peak Petroleum Industries are participating in FLNG projects in prolific offshore areas during 2011–2015. These projects are small scale, with a production capacity ranging between 1.5–3 MMtpa. PNG floating LNG (Interoil) and Progress Floating LNG are a number of such projects which will commence operations during 2014– 2015. Royal Dutch Shell’s (Shell) Prelude Floating LNG is a large scale project in the Browse Basin in northwest offshore Australia with a LNG production capacity of 3.6 MMtpa and a total planned capex of $198 billion. It is expected to commence operations by 2016. Shell has placed an order for 10 floating vessels with Samsung Heavy Industries, with an agreement for a further 15 in the future. The total liquefaction capacity of FLNG projects is predicted to reach 6.7 MMtpa by 2015. For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/reportstore/RequestSamplePages.aspx?ID=Floating-LNG-TerminalsTechnological-Innovation-and-Low-Cost-Monetization-of-Offshore-Gas-Reserves-Will-Play-a-Key-Rolein-Global-LNG-Industry-Growth&Title=Energy_and_Utilities&ReportType=Industry_Report FLNG regasification terminals will play a major role in the global regasification market by 2015. The total capacity contribution of FLNG regasification terminals in the global LNG regasification market is expected to increase, from 5.4% in 2010, to 9.7% in 2015. Such growth is primarily a result of strong demand for natural gas during 2005–2010, a trend which is expected to continue until 2015. Moreover, FLNG terminals are low cost, quick to build and offer greater mobility in comparison with onshore land based terminals. Currently, eight FLNG regasification terminals are operational in the US, Brazil, the UK, Kuwait and Argentina. During 2011–2015, 15 planned FLNG regasification terminals are expected to commence operations.
â€œFloating LNG Terminals - Technological Innovation and Low Cost Monetization of Offshore Gas Reserves Will Play a Key Role in Global LNG Industry Growthâ€?, is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on global Floating Liquefied Natural Gas (FLNG) markets. The report analyses the role of FLNG projects in the global Liquefied Natural Gas (LNG) industry amidst growing demand for natural gas, the need for an economical monetization option and increasing discoveries in remote offshore regions. The research also provides details on the advantages of FLNG liquefaction and regasification terminals over onshore LNG terminals and the challenges faced by the floating liquefaction industry. The report also gives information on FLNG regasification and liquefaction markets covering processing capacities, major operating companies, and key existing and planned projects. For further details, please click or add the below link to your browser: http://www.globaldata.com/reportstore/Report.aspx?ID=Floating-LNG-Terminals-TechnologicalInnovation-and-Low-Cost-Monetization-of-Offshore-Gas-Reserves-Will-Play-a-Key-Role-in-Global-LNGIndustry-Growth&Title=Energy_and_Utilities&ReportType=Industry_Report Visit our report store: http://www.globaldata.com For more details contact: firstname.lastname@example.org North America: +1 646 395 5477 Europe: +44 207 753 4299 +44 1204 543 533 Asia Pacific: +91 40 6616 6782