Increase
in the oil and gas exploration activities to satisfy the global
energy needs can have direct implications on the global LNG
Re-gasification industry. The global market for LNG Re-gasification
industry depends upon the demand for LNG, and hence any factor
driving LNG demand could also drive the LNG Re-gasification market.
Re-gasification is a process of converting back the Liquefied Natural
Gas into its original form. The stringent environmental laws
advocating the use of cleaner fuels can have positive impact on the
demand of natural gas, and hence re-gasification equipments. The need
to meet the energy and climate targets by various countries is one
the major driver for the LNG re-gasification industry. LNG
re-gasification plants can be located on both onshore and offshore
locations. The offshore plants are usually located on the floating
barges equipped with all necessary technologies for re-gasification.
Segmentation
of the LNG Re-gasification market can be done on the basis of
technology, plant location (Onshore and Offshore Re-gasification),
end user industry and geography. Some of the major
LNG-re-gasification technologies include the use of open rack
vaporizers, submerged combustion vaporizers, shell and tube
vaporizers, intermediate fluid vaporizers and ambient air vaporizers.
The LNG Re-gasification industry can also be segmented depending upon
the location of re-gasification plants. The LNG Re-gasification
plants can be located both on the onshore and offshore areas. The
Floating Storage and Re-gasification Units (FSRU) are purposely built
tankers that can be used for designed for re-gasification of LNG.
Natural gas is widely used as a fuel for gas powered cars, buses and
trucks. Besides that natural gas can also be used as fuel for power
plants.
The
segmentation of the LNG Re-gasification market can be done by
indentifying the major LNG importing and producing countries. Major
natural gas importing and producing countries include the United
States, Canada and Mexico; Australia, India, Singapore, China, Korea
and Japan; Italy, Spain, Germany, Russia and the United Kingdom in
Europe; Oman, Qatar, Kuwait, Iran, Iraq and Saudi Arabia. Rest of the
World segment includes countries from Africa and Latin America. Major
countries in this segment are Angola, Nigeria, Venezuela, Brazil and
Ecuador. Recent natural gas discoveries in West Africa and Central
Asia are also having the positive impact on the world LNG
Re-gasification industry.
Increasing
onshore and offshore natural gas exploration activities, advancements
in re-gasification technologies, increasing demand for natural gas,
stringent environment regulations advocating the use of cleaner fuels
are the major drivers for the LNG Re-gasification industry. Moreover,
the development of offshore re-gasification units can also have a
positive impact on the LNG Re-gasification industry. High cost of
installation for LNG re-gasification units is one of the major
restraints to the LNG Re-gasification industry. Moreover, the
development of bio-fuels and renewable energy technology can also be
a restraint to the LNG market and hence the LNG Re-gasification
industry. Increase in the number of vehicles especially in the Asia
Pacific countries such as India and China can act as the opportunity
for the LNG Re-gasification industry. Both of the countries import
LNG in large quantities and hence can act opportunities for the
companies planning to invest in LNG Re-gasification.
Some
of the major companies involved in LNG Re-gasification include KBR,
Inc., Golar Management Ltd., Höegh lng AS, John Wood Group PLC,
Wärtsilä, Excelerate Energy, L.P and others.
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