Liquefied Natural Gas (LNG) terminals are specially designed port terminals that are intended to load-store and to unload natural gas to various LNG Carrier ships. In other terms, the terminals are used extensively while importing and exporting LNG to multiple destinations around the world. Large-scale LNG terminals include the terminals that have the capacity more than 2 metric million metric ton per year (MMTPA). It is expected that with the increasing global LNG trading at around 5.8% CAGR from 2009-2018, the large-scale LNG terminals market is expected to grow at a same pace during the forecast period. Adding to this, more than 300 metric ton per annum (MTPA) of LNG was traded in 2018, with a higher number of importing countries than the exporting countries. LNG Terminals (either large-scale or small scale) are divided into liquefaction and regasification terminals, built on onshore and offshore. The higher number of LNG importing countries, with higher regasification capacity, is more than that of LNG exporting countries with lesser liquefaction capacity. Capacities or the number of terminals is mainly determined by the requirement of natural gas by various countries. Natural gas is a cleaner fuel than crude oil that helps to reduce air pollution and thereby, helps in reducing air-spread diseases that get spread through multiple toxic macro particles. On the other hand, trading takes place on the ground of requirements. It is the power, fertilizers, city gas distribution networks, and the refineries that majorly drive the liquefied natural gas market within a country. However, fluctuating natural gas price increases the risk associated with large scale LNG terminal construction and thereby, is expected to hinder the growth of the market.
- As of 2018, regasification terminal dominated the large-scale LNG terminals market, owing to its higher capacity compared to liquefaction terminals.
- As per the Energy Information Administration (EIA), non-OECD Asian countries like China, India, Bangladesh, Thailand, and Vietnam are expected to consume 120 billion cubic feet per day (bcf/d) of natural gas by 2050, outpacing regional natural gas production by 50 bcf/d. The supply imbalance in the region would result in increasing dependency on the other regions, which is expected to create an opportunity for the LNG terminal companies.
- The Asia-Pacific is dominating the large-scale LNG terminals market with the presence of both liquefaction and regasification terminals. Australia, Indonesia, and Malaysia have the highest capacity liquefaction terminals, while Japan, South Korea, China, and India have the highest capacity infrastructure for regasification of LNG.
Key Market Trends
Regasification LNG Terminals to Dominate the Market
- In 2018, large scale regasification terminals accounted for a higher market share than the liquefaction terminals. As of 2018, large-scale regasification terminals cover nearly 65% of the total global LNG terminals capacity, with maximum terminal capacity in Asia-Pacific. Regasification terminals are majorly built by the LNG importing countries. Asia-Pacific is the largest consumer of LNG during 2018, with the highest capacity of LNG regasification terminals.
- In 2018, Japan, South Korea, China, and India dominated the region with a large capacity of LNG regasification terminals. With the addition of upcoming LNG regasification terminals in China and India, Asia-Pacific is expected to remain the dominant market in the large-scale LNG terminals market.
- Apart from Asia-Pacific large-scale LNG regasification terminals, the addition of Turkey’s Dortyol LNG regasification terminal is one of the prominent large-scale LNG terminals that got commissioned during 2018. With the increasing demand for natural gas, specially in the power sector, it is expected that more number of large scale LNG are expected to get commissioned during the forecast period.
Asia-Pacific to Dominate the Market
- In 2018, the Asia-Pacific region continued to dominate the large-scale LNG terminals market, with nearly 150 MTPA liquefaction terminal capacity and more than 450 MTPA capacity of regasification terminals. Japan and Australia are the leading countries within the region, with 24% of the global regasification capacity, and 19% of the global liquefaction capacity, respectively.
- The addition of Wheatstone LNG and Gorgon LNG in Australia are the prominent large-scale LNG terminals that was added up to the liquefaction infrastructure during 2018. Moreover, the region has added five new LNG regasification terminals, including three in China, one in Japan, and one in Bangladesh.
- The region has almost 40 MTPA proposed liquefaction plants in Asia-Pacific, with Australia as the top LNG player that dominate the region. With high liquefaction capacity, the region has four proposed terminals that are estimated to be large-scale during the forecast period.
- BHP Billiton, BP, Chevron, Shell, Woodside, Mitsubishi, Mitsui, Qatar Petroleum, ExxonMobil, TOTAL, and Marubeni are the prominent liquefaction players in Asia-Pacific. At the same time, Tokyo Electric Power Company (TEPCO), Tokyo Gas, Toho Gas, Korea Gas Corporation (KOGAS), Petronet LNG, China National Oil Offshore Company (CNOOC), and Chubu Electric are the prominent players for regasification players in the region.
The large-scale LNG terminals market is fragmented. Some of the key players in the market include Cheniere Energy Inc., China National Offshore Oil Corporation (CNOOC), Total SA, Exxon Mobil Corporation, Royal Dutch Shell PLC, Chevron Corporation, British Petroleum (BP) PLC, Tokyo Electric Power Company Holding Inc., and Tokyo Gas Co. Ltd.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
1.2 Market Definition
1.3 Study Assumptions
4.2 List of LNG Terminals by Capacity, and by Location, 2018
4.3 List of Upcoming Terminals by Capcity and Location
4.4 CAPEX Forecast for LNG Terminals Market, till 2025
4.5 Recent Trends and Developments
4.6 Government Policies and Regulations
4.7 Market Dynamics
4.8 Supply Chain Analysis
4.9 Porter's Five Forces Analysis
4.9.1 Bargaining Power of Suppliers
4.9.2 Bargaining Power of Consumers
4.9.3 Threat of New Entrants
4.9.4 Threat of Substitute Products and Services
4.9.5 Intensity of Competitive Rivalry
5.3.1 North America
5.3.4 South America
5.3.5 Middle East & Africa
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Cheniere Energy Inc.
6.3.2 China National Offshore Oil Corporation (CNOOC)
6.3.3 Total SA
6.3.4 Exxon Mobil Corporation
6.3.5 Royal Dutch Shell PLC
6.3.6 Chevron Corporation
6.3.7 British Petroleum (BP) PLC
6.3.8 Tokyo Electric Power Company Holding Inc.
6.3.9 Tokyo Gas Co. Ltd
6.3.10 Petronet LNG Ltd
A selection of companies mentioned in this report includes:
- Cheniere Energy Inc.
- China National Offshore Oil Corporation (CNOOC)
- Total SA
- Exxon Mobil Corporation
- Royal Dutch Shell PLC
- Chevron Corporation
- British Petroleum (BP) PLC
- Tokyo Electric Power Company Holding Inc.
- Tokyo Gas Co. Ltd
- Petronet LNG Ltd