FLNG Market Grows a CAGR of +93%

Global floating liquefied natural gas (FLNG) market is growing at a CAGR of +93% during forecast period 2019-2026 as the demand for natural gas has been rising as it is a preferred fuel in power generation in various industries.

According to a report from Research N Reports, the demand comes from mainly for the regions such as North America, Europe, China, Japan, Southeast Asia and India.

Natural gas is cleaner, safer, and more cost-effective than other fuels. It has the potential to significantly reduce greenhouse gas (GHG) emissions, it said.

Natural gas is consistently being used to substitute high pollutant fuels such as coal and fuel oil in power and industrial sectors in several countries. Natural gas is a multipurpose fuel.

The report identifies key players in the market as Excelerate Energy L.P., Hoegh LNG, Golar LNG, Royal Dutch Shell plc, Petronas, Exmar, Noble Energy Inc., Woodside Petroleum Limited, DAEWOO Shipbuilding & Marine Engineering Co., Ltd. (DSME), Samsung Heavy Industries Co., Ltd., Hyundai Heavy Industries Co., Ltd.