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Middle East FLNG Market to expand lucratively till 2027

Middle East FLNG Market To Witness Lucrative Growth Through 2027. Middle East floating liquefied natural gas (FLNG) market trends are steered toward clean energy adoption, aided by the steadily augmenting fuel consumption in the region. The ongoing emphasis on decreasing carbon footprint, alongside the fast-paced fossil fuel depletion, has made it necessary to turn to sustainable solutions. Offshore gas extraction projects are resuming progress after the first wave of COVID-19. New ways of minimizing carbon emissions through natural gas production are being explored. These approaches are expec

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Middle East FLNG Market to expand lucratively till 2027

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  1. Middle East FLNG Market To Witness Accelerated Growth by 2027 • Middle East FLNG Market To Witness Lucrative Growth Through 2027. Middle East floating liquefied natural gas (FLNG) market trends are steered toward clean energy adoption, aided by the steadily augmenting fuel consumption in the region. The ongoing emphasis on decreasing carbon footprint, alongside the fast-paced fossil fuel depletion, has made it necessary to turn to sustainable solutions. Offshore gas extraction projects are resuming progress after the first wave of COVID-19. New ways of minimizing carbon emissions through natural gas production are being explored. These approaches are expected to meet the environmental mandates and achieving carbon reduction goals of several regional governments in the long run. • Although the FLNG market in the Middle East suffered substantial losses due to the declining conusmption of oil and gas during 2020, movement restrictions have gradually started to ease with COVID-19 vaccine rollouts in 2021. The automobile, transportation & logistics, and manufacturing industries have begun to rebound owing to the increased mobility. In the wake of the COVID-19 pandemic, high-income gulf countries have displayed resilience despite the economic setback to the oil and gas sector. They have been exhibiting a consisent growth across the floating storage regasification unit (FSRU). ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  2. As FSRU storage vessels efficiently convert and transport LNG to gas facilities, the technology is being adopted on a large scale. The vessel requires lesser space when compared to other options, at the same time providing greater flexibility and faster implementation. With the growth in the number of regional offshore floating projects, Middle East FLNG industry is making advancements. • In July 2021, Turkish President Tayyip Erdogan announced the country’s intention to pursue oil and gas explorations in the eastern Mediterranean. Turkey FLNG market size is expanding at a promising pace, thanks to the government initiatives toward maximum penetration of green energy. Since the demand for cost-efficient and scalable LNG distribution units has been picking up speed, the volume of investments toward FLNG infrastructure development has been accelerating installations. Turkey introduced its Botas-owned Ertugrul Gazi FSRU, which is the premier Turkish floating LNG storage & regasification vessel in June 2021. • Golar LNG, The Linde Group, Royal Dutch Shell, Woodside Petroleum, Black & Veatch, Höegh LNG, and Noble Energy are some notable FLNG companies in the Middle East. The presence of prominent shipbuilders including Hyundai Heavy Industries and Mitsubishi Heavy Industries is a favorable factor that might boost deployment of small, mid-scale, and large capacity FLNG ships. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  3. Get sample copy of this research report @ • https://www.graphicalresearch.com/request/1946/sample • Request for customization @ • https://www.graphicalresearch.com/request/1946/customize-this-report ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  4. Due to the lower capital investments and faster development schedules, mid and small-scale capacity ships are anticipated to deploy an increasing number of FLNG units. These facilities are deployed across economically unviable stranded reserves for ensuring production through other units. New floating units are being introduced on account of the funding activities on the regional level. UAE FLNG industry share is likely to add a substantial chunk to the total market revenue over 2021- 2027, triggered by the nation’s thriving offshore sector. A diverse range of projects ranging from technical offshore projects to LNG are defining the Middle East oil and gas landscape. The growing number of projects promise a progressive growth curve for the Middle East. These include the Basra Gas Gathering that involves exporting LNG through a floating liquefaction facility off Basra. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  5. Segments of Middle East FLNG Market; • Middle East Market, By Technology • LNG FPSO • Small/mid-scale • Large scale • FSRU • Small/mid-scale • Large scale • Middle East, By Capacity • Small/mid-scale • Large scale ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  6. About Graphical Research: Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle. Contact Us: Parikhit B. Corporate sales, Graphical Research Email:sales@graphicalresearch.comWeb: https://www.graphicalresearch.com ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  7. Stay In Touch With Us For: Website: www.graphicalresearch.com Social Media: Assured Quality On-Time Delivery Payment Security Industry Experts ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

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