FLNG Capacity to Jump

Floating liquefied natural gas (FLNG) terminals are gaining momentum on the global LNG market, with capacity expected to triple by 2030 according to research from Rystad Energy.

Once hindered by technical and operational challenges, FLNG projects are now achieving utilization rates comparable to onshore terminals. With LNG demand rising alongside the growing viability of smaller gas fields, FLNG is emerging as a faster, more flexible and cost-effective solution capable of adapting to shifting market dynamics while unlocking previously stranded reserves.

Rystad Energy estimates global FLNG capacity will reach 42 million tonnes per annum (Mtpa) by 2030, climbing to 55 Mtpa by 2035, almost four times the 14.1 Mtpa recorded in 2024. Terminals commissioned before 2024 achieved an average utilization rate of 86.5% in 2024 and 76% to date in 2025, figures comparable to global onshore LNG facilities.

“Utilization rates are improving, the technology is proving reliable across a range of environments, and the economics are starting to make more sense. From navigating permitting challenges in Canada to unlocking remote offshore reserves in Africa and Asia, FLNG is finally going mainstream,” said Kaushal Ramesh, Vice President, Gas & LNG Research, Rystad Energy.

Without a prior blueprint to follow, early FLNG projects, such