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LNG Terminal Market Size

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

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LNG Terminal Market Size

LNG Terminal Market size was valued at USD 5.6 billion in 2022 and is projected to grow at a CAGR of 15.8% between 2023 and 2032. LNG, a supercooled form of natural gas, offers the advantage of being more easily transportable over long distances, enabling it to serve as a bridge fuel in the transition to renewable energy sources. Advances in LNG technology have improved operational efficiency and reduced costs. Innovations including improved cryogenic storage designs, optimized liquefaction processes, and more efficient regasification technologies. These advancements contribute to making LNG projects economically viable and environmentally sound over the years.

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The liquefaction of natural gas for export and its regasification for import have become crucial elements of the global energy trade. Countries rich in natural gas resources, such as the U.S. and Australia, have increased their LNG production and exports to meet the growing demand across Asia and Europe. Additionally, governments, energy companies, and international organizations have invested heavily in LNG infrastructure, including liquefaction plants and regasification terminals. These investments aim to capitalize on the growing LNG demand, improve energy security, and create new business opportunities.

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.