LNG

New entrants curbing dominance of FSRU incumbents

Companies are looking to order their own FSRUs to their own specifications rather than rely on those built by Excelerate, Golar and Höegh Companies are looking to order their own FSRUs to their own specifications rather than rely on those built by Excelerate, Golar and Höegh.
By The Wildcat 29 August 2018 0 32341
The Challenger, the world’s largest FSRU. (MOL)

Excelerate Energy, Höegh and Golar have long dominated the global FSRU market. However, there are signs their control is starting to wane as more companies order bespoke vessels for their LNG import projects – especially for those intended to serve emerging markets.

Emerging markets are particularly interested in new service providers because they are often looking for smaller vessels than are supplied by the big three companies. For instance, El Salvador is looking to lease a vessel to import around 500,000 tpa of...