A traditional LNG import terminal is a major industrial facility. The floating LNG terminal market offers an alternative: a ship-based terminal that can be deployed quickly and moved if needed. Floating LNG terminals are FSRUs (or sometimes an LNG carrier with a regasification barge). They are particularly attractive for countries with limited land, challenging seabed conditions, or a need for rapid gas supply. As the global LNG market tightens, the floating LNG terminal market is growing.

The broader FSRU market is the core. The floating LNG terminal market for "standard" FSRUs (with regasification capacity of 3-5 MMTPA) is the most common. The floating LNG terminal market for "large" FSRUs (over 8 MMTPA) is used for major importers. The floating LNG terminal market for "small" FSRUs (under 1 MMTPA) is used for island nations or for niche applications (e.g., floating storage for a power plant).

The floating LNG terminal market for "turnkey" solutions (including the jetty, pipeline, and grid connection) is offered by specialist contractors. The floating LNG terminal market for "charter" (lease) is common, as it reduces the importing country's capital exposure. The floating LNG terminal market for "operate and maintain" (O&M) contracts are also common. The floating LNG terminal market for "private-public partnerships" (PPP) is used in some countries.

The floating LNG terminal market for "environmental" impact is generally lower than onshore terminals. The floating LNG terminal market for "dredging" and "land reclamation" is avoided. The floating LNG terminal market for "visual" impact is also lower (the vessel is away from the coastline). The floating LNG terminal market for "air emissions" can be minimized by using gas-fired power for the vessel, rather than heavy fuel oil.

The floating LNG terminal market for "security" is an advantage. The vessel can be moved in case of a security threat (e.g., piracy, conflict). The floating LNG terminal market for "re-deployment" (moving the terminal to another location after the initial contract) is a unique feature. The floating LNG terminal market for "re-purposing" (converting an FSRU to a different service) is also possible.

Looking ahead, the floating LNG terminal market will see the deployment of "FSRU for LNG bunkering" (supplying fuel to ships). The floating LNG terminal market for "offshore" FSRUs (not connected to a jetty) will be used in deepwater locations. As the gas industry becomes more agile, the floating LNG terminal market will be a key enabler.

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