The offshore Floating LNG market is a revolutionary concept; combining onshore LNG concepts with offshore floating technologies and environments. The first edition of the Offshore LNG Market Update To 2016 report provides a detailed forecast analysis for the value of the offshore liquefied natural gas sector, the drivers for floating liquefaction (FLNG) and offshore regasification and a regional assessment of the market outlook.
Download leaflet & contents pages
The offshore Floating LNG market is a revolutionary concept; combining onshore LNG concepts with floating offshore technologies and environments. The concept has been discussed for many decades and has involved moving both LNG liquefaction and regasification terminals onto offshore floating platforms. Floating LNG (FLNG) and Floating regasification terminals are a new concept but there are inherent financial and technical risks associated with offshore liquefaction and regasification, but many of these risks are likely to be overcome. The progress of the offshore LNG market is likely to be driven by technological advancements, gradually improving economic conditions, requirements by energy-consuming economies to diversify sources of supply and expected growth in natural gas demand over the longer term.
Infield Systems forecast that the capital expenditure (Capex) on Floating Liquid Natural Gas (FLNG) and offshore regasification market will total US$20.2bn in the 2010-16 period. The majority of this Capex is attributable to the more capital intensive FLNG projects. At present, there are no commercially operational offshore liquefaction projects. However, in recent years, a number of proposed FLNG projects have been pursued. These have included Shell's Prelude project (Australia), Woodside's Sunrise project (Australia/Timor Leste) and Petrobras' Tupi pre-salt development offshore Brazil. Operators of these developments are all investigating the potential commercialisation of their respective gas reserves through the use of FLNG technologies.
There are over 2,000 trillion cubic feet (Tcf) of proven undeveloped gas reserves offshore in the world today. Infield has sought to identify those reserves that are most prospective for FLNG developments and in doing so, Infield Systems have identified and grouped these fields into prospective development groups. Groups considered most prospective in the short term are found in Tiers 1 and 2. Combined, these tiers consist of 75 development groups and are represented by over 300 fields, equating to over 340 Tcf of gas reserves. Overall, the majority of Tier 1 & 2 potential lies in Australasia, followed by South East Asia, West Africa and Latin America. A range of national oil companies, majors and independent operators are shown as being involved, to a varying degree, in the potential development of FLNG development groups.
Unlike the Floating LNG (FLNG) market, there are a number of operational platforms in the offshore regasification market. This market alone is forecast to exceed US$4.4bn in the 2010-16 period. An increase in forecast Capex over this period indicates the large number of proposed global offshore LNG regasification projects. This number has increased significantly in recent years and whilst short term bearish market dynamics may delay the implementation of some of these projects, the more positive view on gas demand in the longer term is likely to be a key driver in the development of regasification projects.
North America once represented the most prospective offshore regasification market. However, following the surge in shale gas production, combined with a fall in gas demand, many projects have been further delayed or altogether cancelled. At present, Asia represents the region of highest forecast Capex associated with offshore regasification up until 2016. This will be driven by a number of proposed projects in Indonesia, Malaysia, Pakistan, Bangladesh and India. In total, Asian related Capex represents 39% of total offshore regasification Capex in the 2010-16 period.
Overall, there are good long term fundamentals for the offshore LNG industry, with prospective Floating LNG (FLNG) and offshore regasification developments being identified in a number of locations at various water depths. For more information please see the Global Perspectives Offshore LNG Market Update Report to 2016.
Purchasers will receive 12 months' of free access to a unique data set through InfieldLive. The data set will identify prospective gas reserves for offshore liquefaction development. This data set forms the basis of the model used in the report and groups fields into possible development groups. Groups included are those containing fields within a defined geographic proximity, having the same field operator and having total group gas reserves in excess of 0.5Tcf. The following items are listed for each of the 950 fields within the defined development group:
Access is provided through InfieldLive which gives the user access to the latest published data from Infield's research team.
To order the Global Perspectives Offshore LNG Market Update To 2016, please complete the order form below or buy online at www.infield.com.
For Global Perspective Offshore LNG Market Update Report is supplied as PDF files are restricted to a single user at a single site and a single print to hard copy. You can purchase additional copies or upgrade to a corporate licence with the report supplied with unrestricted access for your organisation. All prices are shown below and are exclusive of VAT where applicable.
Infield Systems uses the File Open system to control the distribution of their reports and you must be able to install the File Open Plug In which is available from plugin.fileopen.com in order to open and print the PDFs.
Infield Systems Limited accepts payment by bank transfer, credit card (Visa, MasterCard or American Express) or by cheque. Delivery is upon receipt of payment. For credit card purchases please supply the billing address along with the billing Post Code/Zip Code and the four digit security code on the front of American Express cards, or the three digit code on the reverse of MasterCard and Visa cards. All European Union companies must supply their EU VAT number.
By purchasing this document, your organisation agrees that it will not copy or allow to be copied in part or whole or otherwise circulated in any form any of the contents without prior written and specific permission from Infield Systems Limited. Our standard terms and conditions are available either upon request or at www.infieldlive.com
Choose your option to buy
Buy your hard copy and enter the quantity of additional copies of your choice