The future outlook of the LNG market is a bullish one, according to industry leaders who spoke at the inaugural Sea Asia LNG Forum.
Speakers at the forum noted the significant potential of the LNG market in the long-run. In particular, the city state of Singapore is expected flourish in is its role as a service centre for LNG, especially with a large number of LNG ships expected to go onstream and eventually needing to drydock each year.
During the Shipping and Regasification Markets and Developments session, Peter Fitzpatrick, Vice President, Global Marine at ABS commented, "Singapore is a growth market because LNG ships require reliable, on-time delivery from drydocking, a service Singapore has been providing and will continue to do so.”
"We see LNG overhaul as a growth area for Singapore, and not just drydocking, but major modifications work with a number of significant projects on LNG vessels being undertaken here in the yards."
The LNG Forum 2018 is a Sea Asia conference organised by UBM (Seatrade) and the Singapore Maritime Foundation.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/26042018/bullish-outlook-for-the-lng-market/