Small Scale LNG Market to Grow by 6.81%
Global small-scale LNG market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026.Increasing demand for the LNG is the major factor for the growth of this market, said Data Bridge Market Research.The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker, ships and trucks.These small LNG has production capacity of 500000 TPY and are usually used where there is requirement of LNG by the consumers.
Bouygues Unit Tapped To Build LNG Facility
Bouygues Offshore’s SN Technigaz won a contract worth approximately $82 million in Spain. Bahia de Bizkaia Gaz (BBG) chose SN Technigaz to build a liquefied natural gas (LNG) import and regasification terminal in Bilbao, Spain. The BBG contract will be carried out via a joint venture between SN Technigaz, Initec and Sofregaz, it said. The total value of the tripartite contract is $204 million. BBG is a Spanish gas marketing company owned equally by BP Amoco, Repsol, Iberdrola and Ente Vasco de la Energia.