Visiongain has published a new report entitled Floating Liquefied Natural Gas (FLNG) Market Report 2025-2035: Forecasts by Vessel Type (Floating Production Storage and Offloading (FPSO), Floating Storage Regasification Unit (FSRU)), by Capacity (Mid-Scale FLNG (1-3 MTPA), Large-Scale FLNG (Above 3 MTPA), Small-Scale FLNG (Up to 1 MTPA)), by Application (Offshore Gas Field Development, Associated Gas Monetisation, Stranded Gas Monetisation, Gas Flare Reduction), by Technology (Nitrogen-based Liquefaction, Mixed Refrigerant Liquefaction, Shell’s Prelude FLNG Technology, Petronas PFLNG Technology, Barge-based FLNG Technology) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies.

The global floating liquefied natural gas (FLNG) market is estimated at US$21,984.3 million in 2025 and is projected to grow at a CAGR of 4.8% during the forecast period 2025-2035.

The Global FLNG Market is being propelled by a combination of market, technological, environmental, and geopolitical factors. Each of the five discussed drivers uniquely contributes to the increasing adoption and investment in FLNG infrastructure. As companies like Shell, Golar LNG, Eni, ExxonMobil, and BP continue to innovate and scale operations, FLNG is poised to play a critical role in reshaping the global LNG supply landscape in the coming decade.

Increased Investment in Offshore Exploration and Production

The global offshore upstream oil & gas segment is experiencing renewed investment, particularly in deepwater and ultra-deepwater projects, as oil and gas prices stabilize. Many of these offshore fields contain large quantities of associated natural gas. FLNG technology aligns perfectly with this trend, offering a direct route to commercializing these offshore gas volumes without flaring or reinjection, thus also improving emissions compliance.

How will this Report Benefit you?

Visiongain’s 366-page report provides 111 tables and 197 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the floating liquefied natural gas (FLNG) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Floating Liquefied Natural Gas (FLNG). Get financial analysis of the overall market and different segments including vessel type, capacity, application, and technology, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing floating liquefied natural gas (FLNG) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Monetization of Remote and Stranded Gas Fields

One of the most critical value propositions of FLNG is its ability to exploit offshore gas fields that are economically unfeasible to develop using conventional onshore LNG infrastructure. These stranded gas fields are often too remote for pipeline connectivity or too small to justify full-scale liquefaction terminals. By deploying offshore liquefaction capabilities directly over the gas fields, operators reduce development time, capital expenditures, and environmental footprint. For instance, The Hilli Episeyo FLNG project by Golar LNG in Cameroon was the world’s first conversion of an LNG carrier into an FLNG vessel. It unlocked gas reserves previously considered commercially unviable.

Strategic Geopolitical and Supply Chain Diversification

The Russia-Ukraine war, volatile Middle Eastern geopolitics, and growing energy security concerns have forced many nations to diversify their natural gas supply chains. FLNG plays a strategic role by enabling new supply routes, reducing dependence on traditional gas-exporting nations, and improving energy resilience. Countries seeking to become new LNG exporters are now exploring FLNG solutions to quickly establish themselves in the global gas trade without the need for long-term port infrastructure.

For instance, Tanzania and Senegal are working with international partners, including BP and Kosmos Energy, to explore FLNG deployment as a means to enter the global LNG market. These initiatives align with broader geopolitical shifts in global gas trade patterns.

Where are the Market Opportunities?

Emerging LNG Exporters in Africa and Southeast Asia

Many developing nations with untapped offshore gas reserves—particularly in Africa (Mozambique, Tanzania, Senegal) and Southeast Asia (Indonesia, Malaysia)—are actively exploring FLNG solutions as a pathway to become first-time LNG exporters. These countries often lack the capital or infrastructure for large onshore LNG terminals but see FLNG as a faster, scalable, and lower-cost entry point to global energy markets. Investors and EPC contractors can collaborate with national oil companies and governments to develop FLNG projects that fast-track resource monetization. For instance, Eni’s Coral South FLNG in Mozambique and Perenco’s FLNG project in Gabon are setting benchmarks for African nations looking to unlock their offshore gas potential.

Decarbonization and Green LNG Initiatives

As the LNG industry seeks to align with global net-zero goals, there is growing interest in low-carbon or green LNG, produced with minimal emissions. FLNG units can be equipped with carbon capture technologies, electrified operations, and renewable integration, enhancing their environmental performance and appeal to ESG-conscious buyers. Technology providers and energy majors can develop low-emission FLNG solutions to serve green LNG demand, especially in premium markets like Europe and Japan. For instance, TotalEnergies and Technip Energies are exploring FLNG concepts that incorporate renewables and CCS (carbon capture and storage) to reduce the lifecycle emissions of LNG production.

Competitive Landscape

The major players operating in the floating liquefied natural gas (FLNG) market are ABB Limited, Baker Hughes Company, BASF SE, BP Plc, Chiyoda Corporation, Excelerate Energy, Inc., Golar LNG Limited, ​​Höegh LNG AS, JGC Holdings Corporation., Linde plc, Petronas LNG Ltd., Samsung Heavy Industries Co., Ltd., Shell Plc, Technip Energies N.V., TotalEnergies Trading SA. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

• 19-Dec-24, Argentina’s state-run oil company YPF and Shell signed an agreement to develop a major liquefied natural gas (LNG) project in Argentina, marking a $50 billion investment aimed at exporting gas globally. The first phase aims to produce 10 million metric tons of LNG annually, positioning Argentina as a competitive energy supplier. 

• 01-Dec-24, Golar LNG and Seatrium Limited allowed the conversion contract for the Golar Gandria vessel to lapse. Initially awarded in July 2015, the contract aimed to convert the 1977-built LNG carrier into a floating liquefied natural gas (FLNG) vessel. Following the sale of the Golar Gandria for demolition in 2023, both parties agreed to let the contract expire on December 16, 2024, as no physical work had commenced on the vessel.

Notes for Editors

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