Offshore staff
HOUSTON – In an FLNG market report, Douglas-Westwood forecast total expenditure of $64.4 billion from 2014-2020. Two-thirds of this spend is attributed to liquefaction infrastructure, while the remaining is from import and regasification facilities.
The previous seven-year period saw minimal investment in floating liquefaction infrastructure; however, with the introduction offloating LNG vessels, global FLNG capex is expected to experience a significant increase over the next seven years. Year-on-year growth over this period is forecast to average 64% per annum, and Douglas-Westwood expects this increase to be more pronounced after the successful startup and operation of pioneer FLNG vessels such as Shell’sPrelude FLNG and Petronas’PFLNG 1.
Douglas-Westwood anticipates more floating regasification units are to be sanctioned, with Asia and Latin America being the dominant regions. In North America, however, discovery of large supplies of shale gas has resulted in the shutdown of many of its operational terminals and cancellation of upcoming import facilities. This development is expected to reverse North America’s traditional status as a net gas importer to that of an exporter.
01/08/2014
