Chart Starts Shipping of Cryogenic Infrastructure for a New LNG Terminal in Lithuania

Chart equipment manufacturer stated that it has started the deliveries of the first set of cryogenic storage infrastructure to set up a new LNG terminal in Lithuania

Lithuania: The company, Chart, has been roped in the project by AB Klaipedos Nafta port to deliver five HT1000 cryogenic storage tanks, two truck loading bays, one LNG bunkering jetty along with a regasification plant.

Chart has already shipped three cryogenic storage tanks rolled out from its Czech Republic facility and two more are expected to be shipped latter this year. These storage tanks are expected to provide an initial storage capacity of 5,000 m3 of LNG with later plans to raise the capacity to 10000 m3 of LNG.

TechSci Research forecasts that increasing exploration & production activities, favorable government policies supporting the adoption of LNG and growing demand from remote areas are some of the major factors anticipated to aid the global small scale LNG market during 2016-2021. Also, drop in natural gas prices and fluctuations in crude oil prices are further expected to encourage customers across the globe to opt for small scale LNG over diesel, furnace oil or coal in the coming years.

According to released report of TechSci Research “Global Small Scale LNG (SSLNG) Market By Application, By Mode of Supply, Competition Forecast & Opportunities, 2011 – 2021”, the global small scale LNG market is anticipated to cross $47 billion by 2021. Globally, growing demand for SSLNG from remote areas, especially for power generation, is one of the major factors driving the global market of small scale LNG. Other factors such as increasing inclination towards greener and cleaner fuel coupled with low prices of natural gas are also aiding global small scale LNG market.