Singapore LNG Market to Grow at 10.39% through 2025
Growing demand from power generation
sector, favorable LNG prices and government initiatives to setup Singapore as
LNG hub is expected to drive Singapore LNG market
According to
TechSci Research report “Singapore
LNG Market
Demand & Supply Analysis, By Region, By Application, By LNG Terminal,
Competition Forecast and Opportunities, 2011-2025”, market for LNG in Singapore is projected to grow at a CAGR 10.39%
during 2016-2025, due to the push from Singapore government towards adoption of
cleaner energy sources, capacity addition of natural gas / LNG based power plants
and emergence of Singapore as a regional trading hub for LNG in Asia-Pacific. Pavilion
Energy, a wholly owned subsidiary of Pavilion Gas Pte Ltd. inked an agreement
with BP in 2016, under which the British company would supply around 0.4
million tonnes per year of LNG for 20 years from 2019, thereby increasing the
supply of LNG in the country.
Browse 9 market data Tables and 13 Figures spread through 39 Pages and an in-depth TOC on "Singapore LNG
Market"
https://www.techsciresearch.com/report/singapore-lng-market-demand-supply-analysis-by-region-by-application-by-lng-terminal-competition-forecast-and-opportunities/876.html
South West region dominated Singapore
LNG market in 2015, on the back of increasing use LNG for addressing power generation
needs. The region constitutes the largest natural gas power generation plants,
which also support the regional demand for LNG in the country. Gazprom Marketing &
Trading Co Ltd., Pavilion Gas Pte Ltd., are the major suppliers of LNG in
Singapore. In 2016, Maritime and Port Authority of Singapore (MPA) allocated
funds to Harley Marine for building two dual-fuelled conventional bunker
tankers, which would support LNG bunkering facilities in the country. Further, for
the development of LNG bunkering plant, Harley Marine signed a MoU with
Pavilion Energy, Mitsui OSK Lines and Mitsui & Co.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=876
Customers can also request for 10% free
customization on this report.
“On the back
of its strategic geographical location, Government of Singapore is planning to
establish the country as trading hub for LNG in Asia-Pacific, so that it can serve
all major demand centres for LNG in the region such as China, India and
Thailand. Moreover, rising demand for natural gas from key end user has widened
the demand-supply gap for LNG in Singapore. In 2013, Singapore imported 0.94
MMT of LNG and registered a capacity utilization rate of only 35%. The market
for LNG supply in the country is anticipated to increase with capacity additions
through installation of floating storage regasification unit, implementation of
favourable government policies and low LNG prices. Moreover, easy availability of
LNG from Australia, Qatar, Equatorial Guinea and the US, etc., and growing need
for environment-friendly fuels are expected to aid growth in Singapore market for
LNG during the forecast period”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Singapore LNG Market Demand
& Supply Analysis, By Region, By Application, By LNG Terminal, Competition
Forecast and Opportunities, 2011-2025”
has evaluated the LNG market across five regions of Singapore
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 Singapore.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium
market research reports. Serving 700 global clients with more than 600
premium market research studies, TechSci Research is serving clients across 11
different industrial verticals. TechSci Research specializes in research based
consulting assignments in high growth and emerging markets, leading
technologies and niche applications. Our workforce of more than 100 fulltime
Analysts and Consultants employing innovative research solutions and tracking
global and country specific high growth markets helps TechSci clients to lead
rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]