The global FLNG terminals market is set for robust expansion, driven by an increased focus on reducing carbon emissions and the growing adoption of natural gas in the transport sector.
Valued at $21.3 bill in 2023, the market is forecast to surge to $68.9 bill by 2034, reflecting a compound annual growth rate (CAGR) of 11.3% during the forecast period, according to a new report from Transparency Market Research.
By facilitating the production, liquefaction, storage, and transfer of LNG directly from offshore natural gas fields, FLNG terminals offer flexible and independent solutions with fast implementation schedules, competitive pricing, and reduced project risks.
This dynamic environment is further bolstered by investments in natural gas vehicles and offshore gas liquefaction units, which are driving market expansion globally, the report said.
