DUBLIN--(BUSINESS WIRE)--The "LNG Carrier Market: The U.S. and Global Industry Analysis, Technology and Regional Analysis by Volume and Revenue, Trends, and Forecasts up to 2023" report has been added to Research and Markets' offering.
According to Exxon Mobil, the demand for natural gas which is essentially methane is expected to double by 2040, that is, more than for any other kind of fuel. Declining prices of natural gas means we could witness a three way battle between coal, crude and natural gas over becoming the choice of primary fuel. Although, not as cheap as coal and crude oil, the natural gas is a clean fuel and fits the global consensus of reducing the global carbon footprint.
The surge in demand for natural gas is likely to have favourable impact on the midstream segment of oil and gas industry as the produced gas would be required to be shipped from production areas to the demand centers across the world. Gas carriers or what we call LNG vessels are of the prime choice while dealing with outbound gas transportation across oceans, and can (demand) experience strong tailwinds.
A huge wave of upcoming LNG projects across Oceania and North America will certainly augment the demand for LNG Carriers. Shale gas boom in the U.S. has completely upturned the natural gas supply scenario. The U.S. which used to be one of the largest buyers of super chilled fuel is now converting its re-gasification terminals into the exporting (Liquefaction) terminals. Four LNG export terminals namely Corpus Christi, Cameron LNG Terminal, Cove Point and Freeport with combined capacity of more than 6 Bcf/d are under construction and are expected to be online before 2021. Once completed, these projects will certainly boost the demand for LNG carriers.
Similarly several LNG projects are expected to come online before 2020 in Australia, that will make country one of the largest LNG producer across the globe. It is to be noted that there is a direct and a close linkage between the demand for natural gas and LNG carriers.
Thus any factor enhancing demand or production of natural gas is bound to augment the demand for gas carriers as well. Despite a multitude of positive factors restraints such as dwindling Chinese and European Economy (leads to less consumption of primary energy), restart of nuclear reactors in Japan (possible switch back to nuclear fuel for power generation) and regular cost overruns amid dwindling oil and gas prices leading to a delay in scheduled start date of LNG projects could dampen or delay the demand for LNG carriers.
Key Topics Covered:
2. Executive summary
3. Global LNG Carrier Market Overview
5. Global LNG Carriers Market Analysis -Technology, by Volume and Revenue, 2017-2023 (Cubic Feet) (USD Million)
6. Global LNG Carriers Market Analysis, Regional Analysis by Volume and Revenue, 2017-2023 (Cubic Feet) (USD Million)
7. Company profiles
- Daewoo Shipbuilding and Marine Engineering (DSME)
- Samsung Heavy Industries
- STX Offshore & Shipbuilding Co., Ltd.
- Hyundai Heavy Industries Co.
- Mitsubishi Heavy Industries
- Mitsui O.S.K. Lines, Ltd. (MOL)
- China State Shipbuilding Corporation
- Kawasaki Heavy Industries
- GasLog Ltd
- Dynagas LTD
For more information about this report visit https://www.researchandmarkets.com/research/cnjbls/lng_carrier