LNG Terminals Market

The LNG Terminals market is anticipated to grow from USD 7.4 billion in 2024 to USD 12.8 billion by 2029, with a CAGR of 11.6% during 2024-2029. An LNG Terminal is one of the specialized facilities for importing, exporting, storing, and regasifying LNG, which is cooled liquid natural gas to make transportation easy. These terminals are usually positioned near coastal areas or ports and include infrastructure like storage tanks, regasification units, and pipeline connections. Major applications of LNG Terminals include promoting international natural gas trade, ensuring energy security to areas with low production of natural gas, and providing a distribution point for natural gas to be fed into power plants, industries, and households. The primary role of LNG Terminals is to respond to rising energy demands and facilitate the transition towards cleaner sources of energy.

In the Terminal type segment, the LNG Terminals market includes mainly two subsegments, namely, onshore terminals and floating terminals. Onshore LNG Terminals are huge, land-based facilities with permanent infrastructure for storing, regasifying, and distributing LNG. They are designed to operate for extended period of time and can receive large quantities of LNG. On the other hand, floating LNG Terminals are sea-based, versatile facilities that incorporate Floating Storage and Regasification Units (FSRUs) and Floating Liquefied Natural Gas (FLNG) platforms. They are more cost-effective, quicker to deploy, and ideal for areas with limited space or infrastructure for onshore terminals. Both play a vital role in increasing LNG accessibility and supporting diverse energy needs around the world.

In the technology segment, the LNG terminals market is segregated into liquefaction and regasification terminals, each playing a vital role in the supply chain of LNG. Liquefaction terminals cool natural gas, thus compressing it nearly 600 times in its normal gaseous state. In this state, it is easily transportable for long distances, especially on carriers in LNG. They are sub-fragmented into air-cooled, seawater-cooled, and hybrid systems, all bringing unique advantages. Air-cooled systems are suited for arid or inland regions with minimal water resources. Seawater-cooled systems utilize marine resources as the source of energy and, hence, are ideal for coastal regions. Hybrid systems offer operational flexibility by using a combination of air and seawater cooling. This means they can be adjusted to any environmental or operational condition. Regasification terminals convert LNG back into its gaseous state for use either through pipelines or direct use. These terminals support multiple end-uses, including industrial facility power, fuel for gas-fired power plants to generate electricity, and natural gas supply to households and commercial establishments. The integration of liquefaction and regasification terminals supports seamless global trade, enhances energy security, and enables regions to access cleaner-burning natural gas, reducing reliance on more carbon-intensive energy sources like coal and oil. This dual-terminal configuration also supports the increased use of LNG as a bridging fuel toward decarbonization.

Some players operating in the LNG Terminals market include Technip Energies N.V. (France), Saipem (Italy), Exxon Mobil Corporation (US), TotalEnergies (France), and Shell PLC (UK).