Market Size of United Kingdom LNG Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | < 8.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK LNG Market Analysis
The United Kingdom LNG market is projected to register a CAGR of over 8% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- In the medium term, the increasing import volume of liquefied natural gas (LNG) in the country to drive the market is expected to drive the United Kingdom LNG market during the forecast period.
- On the other hand, LNG storage tanks at European regasification terminals, particularly in the United Kingdom, reached 'tank-top,' a number of buyers claimed force majeure, citing that they were physically unable to receive any more LNG, thus negatively impacting the market.
- Nevertheless, a high number of LNG regasification projects/development plans are expected to be proposed in upcoming years, underpinned by the growing LNG demand, leading to the creation of several opportunities for the market players in the United Kingdom, thus, making an emerging LNG market.
