The floating liquefied natural gas (FLNG) market could see $47.4bn invested over the next five years, a new analysis forecast.
Energy consultant Douglas Westwood predicts Asia to account for around a third of the FLNG sector investment.
Australasia will take 22% of the market while Latin America will occupy 17% of global FLNG expenditure; in both offshore liquefaction and regasification vessels.
Floating liquefaction facilities would attract more than $28bn in capital expenditure while floating storage and regasification units would secure around $19bn in investment.
Douglas-Westwood director Steve Robertson argued that FLNG represented the cheapest way to develop east Africa’s massive gas resources as well.