Game-changing FLNG to set energy markets alight
In the final survey conducted by Petroleum Economist in partnership with Petronas at OTC Asia, we learnt that FLNG is going to reshape a growing industry as opportunities abound
In the survey, which was conducted online as well as at OTC Asia in Kuala Lumpur, we discovered that the current supply glut in liquefied natural gas may have an outlet in floating facilities, as FLNG provides market-defining opportunities in production, storage and transfer. With a number of different projects set to come on-stream in the near future those facilities should encourage a greater infrastructure for the growing sector. More than 60% of respondents said FLNG will be a game-changer.
We asked respondents their thoughts on the diversity of the offshore technology sector – a key narrative on OTC Asia’s final day. Supporting the claim for FLNG, it’s encouraging to learn that more than 61% of survey respondents consider offshore technology to be very diverse, with further 29% suggesting the sector is on par with other oil and gas sectors.
Elsewhere at the conference, delegates discussed the part Iran has to play in offshore technology, as the country aims to get back on track as a global energy producer. We quizzed those same delegates on the topic, with more than half of our respondents saying Iran could provide a huge opportunity for market growth.
Lastly delegates and respondents were asked about their thoughts on the Trans-Pacific Partnership Agreement (TPP), which was signed in Auckland at the beginning of February. The agreement aims to lower trade barriers among twelve Pacific Rim nations and Petroleum Economist was keen to learn what it could mean for opportunities in offshore technology. More than a third of respondents said it could offer very significant commercial prospects, while a further 46% were encouraged by TPP and what is means for the sector.
The surveys were conducted in partnership with Petronas. The full, collective results were published in the April issue of Petroleum Economist.