Gazprom (Russia), Engie SA (France), Linde Group (Germany), Honeywell International Inc. (U.S), General Electric (U.S), Wärtsilä Corporation (Finland), Skangas AS (Norway), Prometheus Energy (U.S), Excelerate Energy L.P (U.S) and IHI Corporation (Japan). are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Small Scale LNG Market.
Small scale LNG Global Market – Overview
The Global Small Scale LNG Market is expected to witness a gradual development during the forecast period. The growing demand for energy across the globe is highly driven due to the increasing global population. The demand for small scale LNG utility for transportation, is growing as well as it is growing for power generation, especially in the remote areas. This is due to the fact that there is an increasing inclination towards greener and cleaner fuels. When compared with traditional fossil fuels, LNG emits lesser pollutants and is cheaper. One of the primary factors driving the small scale LNG market is the formulation and implementation of various policies regarding the emission of carbon dioxide and nitrogen oxide and modifications being carried out in the existing liquefied natural gas (LNG) terminals. As per the study conducted by Market Research Future, the global market for small scale LNG is likely to grow at the CAGR of around 2.5%.
With advancement in technologies, LNG is increasingly being used in power generation applications and also to provide power to remote areas where power infrastructure is weak. The increased use of LNG is mainly due to the fact that natural gas power generation results in the cleaner generation of electricity. Lower capital costs, higher fuel efficiency, shorter construction times and reduced CO2 emissions are other advantages of using LNG. This has encouraged global utilities to invest in LNG infrastructure such as LNG bunkering and has increased the use of renewable natural gas while providing low cost electricity. The government and local policies and regulations further support the incorporation of more LNG into energy generation mix. The industrial sector also relies on natural gas as a fuel for manufacturing many of the products such as paper and pulp, metals, chemicals, fertilizers, fabrics, pharmaceuticals and plastics.
The small scale LNG Market is specially targeted in the places where there is less production of the LNG and does not require large LNG liquefaction plants. The small scale LNG plant with a capacity less than 1 MPTA can be constructed within 3 years, compared to the large scale LNG Liquefaction Plant, which can take up to 10 years and high capital expenditure (CAPEX) and Operating expenditure (OPEX). Also, the ability to enjoy the profits in a short time is another driver for the decision to build small scale plants. Capital expenditure (CAPEX) requirements are significantly lower for Small scale LNG plants, but on cost per ton annual basis, these Small scale LNG plants are not in competitive pricing compared to that of the large scale LNG plant. So, the measures are also taken for small scale LNG plants to reduce the operational expenditure (OPEX) by the use of unmanned facilities and multi-disciplinary skilled employees.
The economic impact and the benefits created by the small scale LNG are in various ways through the investments in the small scale LNG infrastructure, vessels, trucks market. With the change in the mindset and the change in the policies, the truck owners will invest in the new LNG trucks and the ship owners will invest in the new carrier vessels. On the other hand, the cost for converting an existing vessel to LNG vessel is high, but due to the strict emission regulations on the bunkering fuel used by existing vessels, the operators are paying the premium and balancing their existing fleet. Small scale LNG plants are used in targeting the small gas fields, other than that, they are also used as peak shaving systems. These peak shaving plants liquefy the gas, store it and re-gasify it according to the demand. They are help in shortening the distances from their customers. The satellite stations, which are used for gas storage, peak shaving and delivery points gives advantage for the Small Scale LNG Supply chain.
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Geographically, the global small scale LNG market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, Asia-Pacific accounts for the largest share in global small scale LNG market. Decreased oil prices and government policies and regulations towards greener fuel use has increased the acceptance of LNG. There is an increasing use of natural small scale LNG for transport and standby power requirements, particularly in India and China. Globally, Europe is the second largest market for small scale LNG. The Blue Corridors Project that is underway in Europe to build LNG fueling infrastructure, demonstrates the economic viability of LNG fuel, for heavy trucking that also encourages its adoption. In North America region, LNG with low carbon emissions is compared to diesel and with reduced particulate emissions, is increasingly being used for heavy duty vehicle and onshore transportation.
In October, 2017 – LNG supplier and terminal operator, Skangas, a Gasum company, completed the first small-scale liquefied natural gas loading at the Statoil-operated LNG plant at Melkøya Island outside Hammerfest in Norway.
In June, 2017 – Russian giant Gazprom signed a framework agreement with Austria’s OMV to collaborate in the small-scale LNG sector. The parties intend to cooperate in a joint integrated project for a small-scale LNG production terminal in the area of the Russian Black Sea coast, the transportation, marketing and sales of the LNG production, according to a joint statement.
In November, 2016 – Wärtsilä signed a Memorandum of Understanding (MoU) with the French multinational energy company ENGIE, to develop solutions and services within the small scale LNG business sector.
Small scale LNG Global Market – Segmentation
The scope of global small scale LNG market is segmented into three major segments which are explained below:
- By Type
- Liquefaction Terminal
- Regasification Terminal
- By Modes of Supply
- Trans-shipment and Bunkering
- Captive Consumption through Pipeline & Rail
- By Application
- Marine and Transportation
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Small Scale LNG Global Market – Competitive Analysis
The global market for small scale LNG is currently in a development stage. To maintain the market position and to drive the market growth, all the major player are highly involved in acquiring new project development across the world, so as to showcase their product diversity and market dominance. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product development, innovation, increasing investments in research and development and cost-effective product portfolio.
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