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Middle East & Africa To Hold A Noteworthy Revenue Share In FSRU (Floating Storage Regasification Unit) Market

Covid-19 To Compel The Market Participants To Let 2020 Just Pass?

Persistence Market Research states that the global FSRU (Floating Storage & Regasification Unit) market is set to witness a CAGR of over 8% between 2020 and 2030. The production of natural gas has been growing at an exponential rate. This could be attributed to continuously falling prices due to shale gas revolution coupled with growing demand for LNG imports from automotive sectors and power plants.

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Consistency witnessed in the form of demand for 140,000 – 180,000 mStorage Capacity

There are two categories of FSRU as per storage capacity – 140,000 – 180,000 mand above 180,000 m3. In the initial days, it was a norm to have vessels with storage capacity having upper limit not more than 140,000 m3. However, this limit was raised to 170,000 m3 in 2018 and that trend is being followed till date. Thus, the first category promises geometric progression all though the forecast period.

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Demand from Near Shore and Port Based FSRU to Soar, Thereby Boosting the Demand for Inshore Terminals

The FSRU market has onshore and offshore terminals based on platform. FSRU (Floating Storage & Regasification Unit) vessels get anchored either using exclusive buoy systems offshore due to technical glitches or port congestion or are fixed near shoreline. The latter one is asked for, as it proves to be cost-effective as well as easily accessible (maintenance is easy). As such, the inshore terminals are likely to account for US$ 700 Mn+ absolute opportunities in the subsequent 10 years.

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