Insight

Outlook for the LNG EPC sector  

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Report summary

The LNG EPC sector's capacity is set to peak in 2015 when the waves of LNG construction climax in Australia and North America. New entrants have also entered the sector, historically dominated by only five incumbent contractors. But the construction boom will soon come to an end – we forecast a drop in LNG construction beginning outside North America in 2015, and extending to within North America from 2019. Ample spare EPC capacity and a greater number of contractors will be competing in a drastically diminished market. This will lead to significant competitive pressure on contractors to accept reduced margins and more onerous terms, and downsize their LNG teams. Contractors' bottom lines will be increasingly affected, with some contractors better placed than others to weather to storm.

What's included

This report contains

  • Document

    Outlook for the LNG EPC sector

    PDF 349.84 KB

Table of contents

  • Executive summary
  • Introduction
  • EPC players
  • Barriers to entry have been high
  • but US LNG is enabling more new entrants
  • Competitive tension to rise as workflow falls, beginning outside North America

Tables and charts

This report includes 5 images and tables including:

Tables

  • Outlook for the LNG EPC sector : Table 1

Images

  • Figure 1. EPC market share
  • Outlook for the LNG EPC sector : Image 2
  • Figure 2. LNG EPC market share over time
  • Figure 3. Forecast LNG workflow – including pre-FID projects

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