The increasing demand for energy around the world is propelling the growth of the global large scale TNG terminal market says Fortune Business Insights in a report, titled “Large Scale LNG Terminal Market Size, Share and Global Trend By Technology (Liquefaction, Regasification), By Location (Onshore, Offshore), By Application (Residential, Commercial, Industrial) and By Geography Forecast till 2026.” Rising regulations towards emission control is a factor driving the global large scale TNG terminal market.
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Launch of IOCL’s LNG terminal Is Likely to Encourage Growth
Narendra Modi (Prime Minister of India) launched the biggest Liquefied Natural Gas (LNG) terminal of Rs 5,150-crore at the Kamarajar port, Ennore. The first-ever LNG terminal is expected to benefit Manali refinery, fertilizer plants, petrochemical, and power plants right up to Ramanathapuram down South. This factor is likely to contribute to the global large scale TNG terminal growth. In addition, the acquisition of Chinese oil companies for LNG distribution is predicted to further aid growth of the global large scale TNG terminal revenue. For instance, CNOOC offered pipeline developers such as LNG distributors and ENN energy, to use its LNG terminals on China’s east coast over a period of 10 years with specified slots each year. This factor will, in turn, promote the large scale TNG terminal growth.
Top Players Overview:
- Royal Dutch Shell Plc
- Santos Ltd
- the Linde group
- Conoco Phillips
- ExxonMobil Corporation
- Chevron Corporation
- Cameron LNG
- Statoil ASA.
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Key Market Driver – Increasing demand for clean alternate source of energy
Key Market Restraint – High initial cost and inadequate infrastructure
Increasing Demand for LNG Will Facilitate Growth in Asia Pacific
Geographically, the global large scale TNG terminal market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific leads the global large scale TNG terminal market and is predicted to continue dominating through the forecast period. Increasing demand for LNG in heavy-duty vehicles and electricity generation are supporting the growth in the region. Further, China has remained a dominant region followed by India and Japan due to its use of LNG to tackle air pollution. This factor is boosting the large scale TNG terminal growth in Asia pacific. Strict emission regulations in North America and Europe has fostered the growth of the large scale TNG terminal market. In addition, large scale LNG terminal network in Europe and increasing demand for LNG in North America are expected to favor growth.
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Key Segmental Overview:
1. By Technology
2. By Locations
3. By Application
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Key Industry Developments
- In March 2019, CNOOC offered pipeline developers such as ENN energy and, LNG distributors such as Longkou sheng tong energy to use its LNG terminals on China’s east coast over a period of 10 years with specified slots each year.
- In March 2019, India launched Ennore LNG terminal in Tamil Nadu which will transport LNG to customers via a pipeline right up to tuticorin in south tamil nadu through puducherry and trichy.
- In October 2018, Total announced about its plans to invest in Indian firms for stake in LNG terminals. This will act as boost for LNG terminal market in India.
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Major Table of Content For Large Scale LNG Terminal Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Large Scale LNG Terminal Analysis, Insights and Forecast, 2026
- North America Large Scale LNG Terminal Analysis, Insights and Forecast, 2026
- Europe Large Scale LNG Terminal Market Analysis, Insights and Forecast, 2026
- Asia Pacific Large Scale LNG Terminal Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Large Scale LNG Terminal Market Analysis, Insights and Forecast, 2026
- Latin America Large Scale LNG Terminal Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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