Large Scale LNG Terminal Market
◆ Large-Scale LNG Terminal Market Anticipated to Reach USD 3.95 Billion by 2030
The global large-scale liquefied natural gas (LNG) terminal market is projected to grow from USD 2.70 billion in 2023 to USD 3.95 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.6% during the forecast period.
Market Dynamics
The expansion of the large-scale LNG terminal market is driven by the increasing global demand for cleaner energy sources, particularly in power generation, transportation, and residential heating sectors. Natural gas, with its lower carbon footprint compared to coal and oil, is becoming a preferred choice, necessitating the development of advanced LNG terminals for efficient storage and distribution. Technological advancements, including automation and digitalization, are further enhancing terminal operations and safety.
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Competitive Landscape
Key industry players such as Linde AG, Royal Dutch Shell plc, Exxon Mobil Corporation, and Chevron Corporation are actively expanding their LNG terminal capacities and investing in technological innovations to maintain a competitive edge in the evolving market.
Regional Demand
The Asia-Pacific region is anticipated to dominate the market, accounting for approximately 72% of global LNG import capacity. Rapid urbanization, economic growth, and the construction of new regasification terminals contribute to this prominence. Notably, China is leading with 24 terminals under construction, totaling a capacity of 85 million tons per year.
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Country-Specific Insights
Vietnam: Emerging Opportunities in LNG Infrastructure
Vietnam is exploring opportunities to develop its LNG infrastructure to meet the rising energy demand. The government’s focus on diversifying energy sources presents potential for investments in LNG terminal projects.
Thailand: Trends in LNG Terminal Development
Thailand is witnessing trends towards expanding its LNG import capabilities to support its growing industrial and power generation needs. The development of new terminals is aligned with the country’s energy diversification strategies.
Japan: Consolidation in the LNG Sector
Japan maintains the largest LNG regasification capacity globally, with 211.4 million metric tons annually as of 2021. The country continues to consolidate its position by investing in advanced LNG infrastructure and technologies.
South Korea: Growth in LNG Import Capacity
South Korea is expanding its LNG import capacity to meet increasing domestic consumption. The government’s initiatives to enhance energy security are driving investments in large-scale LNG terminals.
Singapore: Opportunities in LNG Trading and Storage
Singapore is positioning itself as a regional LNG trading hub, leveraging its strategic location and robust infrastructure. The development of LNG storage and regasification facilities is central to this strategy.
United States: Expansion and Updation in LNG Export Facilities
The United States is significantly expanding its LNG export facilities. Notably, Woodside Energy has agreed to sell a 40% stake in its Louisiana LNG project to Stonepeak, which will contribute USD 5.7 billion, covering approximately 75% of the project’s capital expenditure in 2025 and 2026.
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◆ Large Scale LNG Terminal Market Segmentation
by Operations
Liquifaction
Regasification
by Location of Deployment
Onshore
Offshore
by Application
Residential
Commercial
Industrial
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◆ Large Scale LNG Terminal Market Key Players
North America
1. Linde Engineering (Germany)
2. Royal Dutch Shell plc (Netherlands/UK)
3. Exxon Mobil Corporation (USA)
4. Chevron Corporation (USA)
5. Cameron LNG (USA)
6. Gulfstream LNG
7. Plaquemines LNG
8. Cameron LNG
9. Commonwealth LNG
Europe:
1. Linde AG (Germany)
2. Royal Dutch Shell plc (Netherlands/UK)
3. Statoil ASA (Norway)
4. Elba Island LNG
Asia Pacific
1. Linde AG (Germany)
2. Shell (India)
3. PETROLIAM NASIONAL BERHAD (PETRONAS) (Malaysia)
4. Nippon Gas Co. (Japan)
5. PETRONAS (Malaysia)
6. Chiyoda Cooperation (Japan)
7. ASaP
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