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LNG Terminal Market Trends

Report ID: GMI6557
Published Date: Aug 2023
Report Format: PDF

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LNG Terminal Market Trends

The development of smaller, modular LNG facilities has democratized LNG production. These facilities can be tailored to serve local or regional markets, making LNG more accessible to areas previously underserved by larger export-oriented terminals. This trend promotes energy security and resilience. The industry has recognized the need to minimize methane emissions, a potent greenhouse gas, along the LNG value chain. Efforts to improve monitoring, detection, and mitigation of fugitive emissions from production to consumption are ongoing. These measures have positively positioned LNG as a lower-carbon energy source.

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size for LNG terminal was reached USD 5.6 billion in 2022 and is projected to grow at a CAGR of 15.8% through 2032, backed by the shifting trends toward cleaner energy sources and the transition away from coal and oil.

The onshore LNG terminal industry accounted for over USD 5.4 billion in 2022, on account of the construction of new regasification terminals to accommodate increased LNG imports.

Asia Pacific market for LNG terminal is anticipated to reach USD 4.5 billion by 2032, owing to the higher energy demand for industrial processes, power generation, and urban infrastructure, driving the need for LNG imports.

Petronas, CNPC, Engas, Eni SpA, Vopak, Engie, Equinor, PT Pertamina, Petronet LNG, Gazprom, Qatar Energy, Repsol, Kuwait National Petroleum Company (KNPC), and AES Corporation.