For an Executive Summary of this report please contact ediz.ibrahim@visiongain.com (+44 (0)20 7549 9976) or refer to our website http://www.visiongain.com/Report/1225/Floating-Liquefied-Natural-Gas-%28FLNG%29-Market-Forecast-2014-2024
2. www.visiongain.com
Floating Liquefied Natural Gas (FLNG) Market
Forecast 2014-2024: Prospects for Leading
Companies in LNG FPSO & FSRU
Key areas covered in this report will include:
• You will gain an understanding of the floating liquefied natural gas (FLNG) market and how it
will evolve with detailed global capital expenditure forecasts from 2014 to 2024.
• You will receive global capital expenditure forecasts from 2014 to 2024 for the two submarkets
within the FLNG market:
- FSRUs
- LNG FPSOs
• You will be provided with capital expenditure forecasts for the eight largest regional markets
from 2014-2024, as well as for five leading national markets. For each you will gain insight into
the specific market drivers and restraints. The markets detailed are as follows:
Regions -
- Australasia
- Africa
- Asia
- Southeast Asia
- Europe
- Middle East
- South America
- North America and the Caribbean
Leading national markets -
- Australia
- Malaysia
- Indonesia
- Brazil
- Other South American countries
• In addition to these markets, the outlook for FLNG in 30 other national markets is analysed
within the regional forecasts.
• For each of the regional markets you will be provided with a breakdown of CAPEX spending on
the LNG FPSO and FSRU submarkets, as well as graphs forecasting liquefaction and
regasification capacities.
• You will be provided with 24 contract tables detailing the status of all current and potential
FLNG projects, including information on costs and likely start dates.
• You will gain knowledge of who the leading players are within the FLNG marketplace, with
market share breakdowns for the three leading FSRU companies and detailed information on
the leading LNG FPSO companies and constructors.
• The forecasts and analysis are underpinned by extensive expert consultation. The transcript of
an original interview is included within the report with expert insight from:
- EXMAR Marine – Shipping group specialised in activities relating to the transport of gas,
and in particular the transport of liquefied gases, and developers of the world’s first
operational liquefaction vessel.
• You will be able to study 168 tables, charts and graphs quantifying the FLNG market in detail
over the period 2014-2024.
• You will receive a PEST analysis of the Political, Economic, Social and Technological factors
enabling and constraining CAPEX in the FLNG market from 2014 onwards.
4. Page 144www.visiongain.com
Floating Liquefied Natural Gas (FLNG) Market
Forecast 2014-2024: Prospects for Leading
Companies in LNG FPSO & FSRU
5.8.8 Middle Eastern FLNG Projects
Main Sponsor(s) Constructor MMTPA
Earliest
Op.
Location Vessel Name
Est.
Cost
Golar (Jordan
Ministry of Energy)
SHI 3.5 2014 Jordan, Aqaba Golar Eskimo 300
Golar (KNPC) SHI 2.5 2014 Kuwait Golar Igloo 310
(Lebanon Ministry of
Energy and Water)
TBD 1.3 2016 Lebanon - 250
Main Sponsor(s) Constructor MMTPA Status
Earliest
Op.
Location
Est.
Cost
Levant LNG (Pangea
LNG)
DSME 3.0 FEED 2019 Israel
(Tamar)
TBD
Leviathan Partners
(Noble, Avner, Delek,
Ratio)/Woodside
DSME 4 FEED 2017 Israel
(Leviathan)
1
Owner Constructor MMTPA Location Vessel Name Est. Cost
Excelerate DSME 1.6 Israel, Hadera Excellence 230
Excelerate DSME 4.0 Kuwait, Mina
Al-Ahmadi
Explorer 320
Golar Keppel 3.0 UAE, Dubai Golar Freeze 125
Table 5.31 Current Middle Eastern FSRUs (Owner, Constructor, MMTPA, Location,
Vessel Name, Estimated Cost ($m))
Table 5.32 Planned Middle Eastern FSRU Projects (Owner (Main Sponsor), MMTPA,
Earliest Operation, Location, Vessel Name, Estimated Cost ($m))
Source: Visiongain 2014
Source: Visiongain 2014
Table 5.33 Planned Middle Eastern LNG FPSO Projects (Sponsor, Constructor,
MMTPA, Status, Earliest Operation, Location, Estimated Cost ($bn))
Source: Visiongain 2014
5. Page 170www.visiongain.com
Floating Liquefied Natural Gas (FLNG) Market
Forecast 2014-2024: Prospects for Leading
Companies in LNG FPSO & FSRU
7. Expert Opinion
7.1 EXMAR
EXMAR NV (EXM:EN Brussels) is a Belgian shipping group specialised in activities relating to the
transport of gas, and in particular the transport of liquefied gases. EXMAR has long since provided
the gas industry with a number of solutions in shipping, offshore, and services such as ship
management and engineering. The company has a growing interest in FLNG and is in the final
stages of producing what will be the world’s first operational floating LNG liquefaction unit
(“Caribbean FLNG”) through a joint venture with Pacific Rubiales Energy (PRE).
Bart Lavent is the Managing Director of EXMAR’s LNG Infrastructure division, a multidisciplinary
team responsible for the development of EXMAR’s floating LNG projects. With diverse work
experience within the energy industry, he has pioneered natural gas projects in Europe and now in
South America with the Caribbean FLNG project. Mr. Lavent has worked for EXMAR for eight
years, is an electromechanical engineer, and holds a master in financial management. Visiongain
interviewed Mr. Lavent in February 2014 and would like to thank him for his invaluable comments.
7.1.1 EXMAR In the FLNG Market
Visiongain: When did EMAR become involved in the Floating Liquefied Natural Gas Market and
what role does it play?
Bart Lavent: EXMAR has been a successful pioneer in this market with the introduction and
development of LNG Regasification Vessels (LNGRV or FSRU) in 2005. In 2006, EXMAR
developed LNG Ship-to-Ship (STS) Transfer. Today EXMAR is operating 10 FSRUs. Exmar
remains at the cutting edge in the FLNG market, having recently ordered a new generation barge-
based floating LNG regasification unit under a 50/50 joint venture with PRE [Pacific Rubiales
Energy] (through its affiliate Pacific Midstream Holding Corp). This new facility will allow the
company to meet the quick-to-market requirements of global LNG import projects currently under
development and will further increase the competitiveness of LNG compared to other energy types.
Additionally, Exmar is leading the FLNG market by working to prove that FLNG [liquefaction]
technology is the right solution to monetise gas reserves. After many years of conferences and
discussions on FLNG units, Exmar has recognised the time has now come for FLNG projects to
move forward and kick off the application of FLNG to real locations and concrete projects. Due to
6. Page 181www.visiongain.com
Floating Liquefied Natural Gas (FLNG) Market
Forecast 2014-2024: Prospects for Leading
Companies in LNG FPSO & FSRU
8.1.1.5 Excelerate LNG FPSO Projects
Tables 8.4-8.7, show Excelerate’s current FSRU fleet, future orders with specific destinations,
future orders without specific destinations and, lastly, the company’s FLSO proposal.
Owner Constructor MMTPA Location Vessel Name Est. Cost
($m)
Excelerate DSME 4.9 Argentina, Bahía
Blanca
Express 320
Excelerate DSME 4.9 Argentina, Escobar Exemplar 320
Excelerate DSME 4.0 Kuwait, Mina Al-
Ahmadi
Explorer 320
Excelerate DSME 4.0 Brazil - 320
Excelerate DSME 4.0 Brazil, Guanabara Bay Exquisite 320
Excelerate DSME 4.9 Not Disclosed Expedient 320
Main Sponsor(s) Constructor MMTPA Earliest
Op.
Location Vessel
Name/Note
Est.
Cost
Excelerate DSME 3.5 2015 Puerto Rico,
Aguirre
- 300
Excelerate DSME 6.1 2014 Brazil, Salvador Hull No.
2402/VT3
500
Table 8.4 Current FSRU Owned by Excelerate (Owner, Constructor, MMTPA, Location,
Vessel Name, Estimated Cost ($m))
Table 8.5 Excelerate’s Planned FSRU Newbuilds and Conversions (Main Sponsor(s),
Constructor/Converter, MMTPA, Status, Earliest Operation, Location (Field), Est. Cost
($m))
Source: Visiongain 2014
Source: Visiongain 2014