FLNG industry is moving into a ‘second wave’ of developments

Global FLNG capex is projected to total $52.8 billion over the 2019-2024 period, according to Westwood Energy. Forecast FLNG expenditure is expected to grow at a 14% CAGR, as operators seek to take advantage of the current competitive pricing structure within the oilfield services and equipment sectors. Investment in floating liquefaction facilities in North America is forecast to account for 45% of expenditure. A combination of drivers, including perceived technological maturity, an improved macroeconomic outlook, and cost reduction in the supply chain, will support an increase in project sanctioning over the next 24 months.