UAE LNG Market to Grow at 7.6% through 2025
Growing demand from power generation
sector, increasing use of domestic natural gas for enhanced oil recovery and
favorable prices of LNG to drive UAE
LNG market
According to
TechSci Research report “UAE
LNG Market
Demand & Supply Analysis, By Region, By Application, By LNG Terminal,
Competition Forecast and Opportunities, 2011-2025”, UAE market for LNG is projected to grow at a CAGR 7.6% during
2016-2025, due to decline in supply of domestic natural gas, implementation of government
policies supporting adoption of LNG based power generation and shift towards use
of cleaner energy. In 2015, LNG was mostly consumed for power generation in natural
gas based power plants, and large metal and petrochemical industries. Increasing urbanization and growing industrialization are
expected to positively influence UAE LNG market during 2016-2025.
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Abu Dhabi and Dubai dominated UAE LNG
market in 2015, on the back of increasing use LNG for addressing primary and
standby power needs. These regions are also one of the highest per capita electricity
consumers in the world. In 2015, the country’s electricity consumption
increased to 114.47 TWh, from 107.00 TWh in 2014. Qatar Petroleum, Dolphin
Energy, Excelerate Energy and Uniper SE are the major suppliers of LNG in the UAE.
In 2016, Abu Dhabi Gas Industries (GASCO), a joint venture between ADNOC, Shell
and Total chartered the Floating Storage Regasification Unit (FSRU) and the
terminal started importing LNG from Excelerate Energy, a US based
company.
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“Low domestic production and rising demand for natural
gas from key end user segments has widened demand-supply gap for LNG in the UAE.
In 2013, UAE imported 0.41 MMT of LNG and registered a capacity utilization rate
of only 13.67%. LNG supply market in the country is anticipated to increase due
to its cost competitiveness against locally produced natural gas, capacity additions
through installation of floating storage regasification unit and implementation
of favorable government policies. Moreover, easy availability of LNG from Qatar,
Australia, Canada, Iran, etc., and growing need for environment-friendly fuels
are expected to aid growth in the UAE market for LNG during the forecast period”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“UAE LNG Market Demand &
Supply Analysis, By Region, By Application, By LNG Terminal, Competition
Forecast and Opportunities, 2011-2025”
has evaluated the LNG market across seven Emirates of the UAE
and provides statistics and information on market structure, industry behaviour
and trends. The report includes market projections and potential demand forecasting.
The report intends to provide cutting-edge market intelligence and help
decision makers to take sound investment evaluation. Besides, the report also
identifies and analyses emerging trends along with essential drivers, challenges,
and opportunities available in LNG market in the UAE.
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