What is the current Large Scale LNG Terminals Market size?

The Large Scale LNG Terminals Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029) Read More

Who are the key players in Large Scale LNG Terminals Market?

Exxon Mobil Corporation, TotalEnergies SE, Shell PLC, BP plc and Chevron Corporation are the major companies operating in the Large Scale LNG Terminals Market. Read More

Which is the fastest growing region in Large Scale LNG Terminals Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Large Scale LNG Terminals Market?

In 2024, the Asia Pacific accounts for the largest market share in Large Scale LNG Terminals Market. Read More

What years does this Large Scale LNG Terminals Market cover?

The report covers the Large Scale LNG Terminals Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Large Scale LNG Terminals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Large Scale LNG Terminals Market Trends

Statistics for the 2023 & 2024 Large Scale LNG Terminals market trends, created by Mordor Intelligence™ Industry Reports. Large Scale LNG Terminals trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Large Scale LNG Terminals Industry

This section covers the major market trends shaping the Large Scale LNG Terminals Market according to our research experts:

Regasification LNG Terminals to Dominate the Market

In 2021, Japan, South Korea, China, and Spain dominated the market with a large capacity of LNG regasification terminals. Japan's regasification capacity for LNG accounted for 211.4 million metric tons per year in 2021, the highest in the world.
In 2021, the total consumption of natural gas in Europe amounted to 412 billion cubic meters, up by 4% (17 billion cubic meters) compared to 2020. In 2021, the EU imported 24% of its total natural gas through LNG, with the remaining coming from pipelines, primarily from Russia, Norway, the UK, and Algeria.
Moreover, In February 2022, 21 terminals were operating in Europe, with a combined regasification capacity of 160 bcm/year and a combined storage capacity of 7.65 million m3 LNG.
There were five more projects (including expansion at existing terminals) under construction in Europe, adding up to an additional 19.5 bcm/year of regasification capacity overall. Thus, with the above projects and increasing LNG consumption in Europe, the LNG regasification terminals segment is expected to grow in the forecast period.
With the increasing demand for natural gas, especially in the power sector, it is expected that more large-scale LNG is expected to get commissioned during the forecast period.

Large Scale LNG Terminals Market : LNG Regasification Capacity, in million metric tons per year, by Major Countries, Global, 2021

Understand The Key Trends Shaping This Market

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Asia-Pacific to Dominate the Market

In 2021, According to the BP World Energy Review, the region accounted for 72% of the global capacity in LNG imports. In addition to urbanization and rapid economic growth, the construction of new LNG regasification terminals has played a key role.
LNG imports accounted for 371.8 Billion cubic meters in Asia-Pacific in 2021. With an annual growth rate of 7.7%, imports are expected to increase in the future, which, in turn, will create demand for large-scale LNG terminals in the forecast period.
China had 24 terminals under construction with a total capacity of 85 million tons per year. Additionally, By 2024, Singapore-based Atlantic, Gulf, and Pacific seek to open its first liquefied natural gas port in India, however, it is considering other locations in addition to the southern part of the nation as a potential site.
Thus, with the upcoming LNG terminal projects and increasing LNG import capacity, the region is expected to dominate the market in the forecast period.