Turkey floating storage
regasification unit market is anticipated to witness a growth of steady CAGR in
the forecast period, 2023-2027. Growing energy requirements and the high-end
investments by the government in oil exploration and distribution activities
are primarily driving the demand for Turkey floating storage regasification
unit market. Also, the rapid adoption of advanced technologies by oil & gas
accidents to increase safety in the distribution process and the growing LNG
import demand from the power and the automotive sector is expected to fuel the
market demand over the next five years.
Advantages offered by LNG Supports
High Market Demand
Liquefied natural gas is an
odorless and colorless liquid fuel and finds diverse applications across many sectors,
majorly in the industrial sector and marine and transport sector. The rise in
environmental concerns and the need to lower carbon emissions into the
environment create the demand for the adoption of alternative energy fuels.
Liquefied natural gas is a versatile fuel and is an environment-friendly fuel.
It is a tried and tested alternative to an expensive oil-based system for the
business whose main concerns are sustainability and costs. Liquefied natural
gas is cheaper, cleaner, and fuel-efficient gas. It does not ignite by itself
when stored in liquid form, making them safe to use. Also, the abundant supply
of earth and the ability to transport and store LNG support the high demand for
LNG across the country.
Increased demand to surge LNG
import Drives the Market Growth
The floating storage &
regasification unit is witnessing massive demand across the country as it has a
high demand for natural gas and does not have sufficient oil-producing regions.
The pipeline networks are non-existent in Turkey and are considered
uneconomical due to a smaller number of natural gas reserves. Turkey relies on
pipeline gas from neighboring countries like Russia, Azerbaijan, and Iran. The
concerned authorities prefer to invest in the import of LNG due to LNG's flexibility
and compatible prices rather than constructing the pipeline network to transfer
gas to the required destination. Floating storage & regasification unit
provides an affordable alternative solution to import LNG compared to other
land-based terminals. They offer quick project turnaround time and greater
flexibility to other alternatives. The high domestic consumption of LNG and
import dependency on other countries is expected to propel the growth of Turkey
floating storage regasification unit market for the next five years.
Favorable Government
Initiatives Fuels the Market Demand
The government invests
substantial amounts in supporting the power sector to cater to the growing
energy requirements due to rapid industrialization and urbanization. Turkey
welcomed its first publicly owned floating storage regasification unit, which
was previously anchored in Dörtyol in Turkey's southern province of Hatay. The
new vessel can store 170,000 cubic meters of liquefied natural gas and has a
regasification capacity of 28 million cubic meters daily. There are two others
floating storage regasification units present in Turkey. One is anchored in
Hatay's Dörtyol district, and the other is in the Aliağa district of western
Izmir. The growing focus on fulfilling the country's energy requirements is
expected to accelerate the growth of Turkey floating storage regasification
unit market over the forecast period.
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Market Segmentation
The Turkey floating storage
regasification unit market is segmented into construction, storage,
application, capacity, design, regional distribution, and company. Based on construction,
the market is divided into newly built and converted. Based on storage, the
market is divided into small, medium, and large. Based on application, the
market is divided into industrial, power generation, and others. Based on
capacity, the market is divided into up to 140,000 m3, 140,000 to 180,000 m3,
and above 180,000 m3. Based on the design, the market is divided into
barge-based and carrier vessel-based. Turkey floating storage regasification
unit market is studied in major regions, namely Marmara Region, Central
Anatolia, Aegean Region, Mediterranean Region, Black Sea Region, Southeastern
Anatolia Region, and Eastern Anatolia Region.
Market Players
Excelerate Energy, Hoegh LNG,
Golar LNG, BW Gas, Gazprom, Flex LNG, EXMAR, Maran Gas Maritime, Teekay LNG,
Bumi Armada, are the major market players operating in the Turkey floating
storage regasification unit market.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021
and 2022-2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Construction
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Storage
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Application
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Capacity
·
Design
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Regional scope
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Marmara Region, Central Anatolia, Aegean Region, Mediterranean
Region, Black Sea Region, Southeastern Anatolia Region, Eastern Anatolia Region
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Key companies profiled
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Excelerate Energy, Hoegh LNG, Golar LNG, BW
Gas, Gazprom, Flex LNG, EXMAR, Maran Gas Maritime, Teekay LNG, Bumi Armada
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, Turkey floating
storage regasification unit market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
·
Turkey Floating Storage
Regasification Unit Market, By Construction:
- Turkey Floating Storage Regasification Unit Market,
By Storage:
- Turkey Floating Storage Regasification Unit Market,
By Application:
- Industrial
- Power Generation
- Others
- Turkey Floating Storage Regasification Unit Market,
By Capacity:
- Up to 140,000 m3
- 140,000 to 180,000 m3
- Above 180,000 m3
- Turkey Floating Storage Regasification Unit Market,
By Design:
- Barge-Based
- Carrier Vessel-Based
- Turkey Floating
Storage Regasification Unit Market, By Region:
o Marmara Region
o Central Anatolia
o Aegean Region
o Mediterranean Region
o Black Sea Region
o Southeastern Anatolia Region
o Eastern Anatolia Region
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Turkey floating storage
regasification unit market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Turkey floating storage regasification
unit market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]