Top 10 Companies in the FLNG Floating LNG Production PRICO DMR MR Liquefaction Market (2026): Market Leaders Powering Global Offshore Gas Monetization

MARKET INSIGHTS

Global FLNG Floating LNG Production PRICO DMR MR Liquefaction market size was valued at USD 6.42 billion in 2025. The market is projected to grow from USD 6.89 billion in 2026 to USD 12.17 billion by 2034, exhibiting a CAGR of 7.4 % during the forecast period.

FLNG (Floating Liquefied Natural Gas) production encompasses offshore facilities capable of processing, liquefying, storing, and transferring LNG directly at sea, eliminating the need for costly onshore infrastructure. The liquefaction technologies central to this market include PRICO (Poly Refrigerant Integrated Cycle Operations), a single mixed refrigerant process known for its mechanical simplicity and compact footprint; DMR (Dual Mixed Refrigerant), which offers enhanced efficiency through a two‑stage refrigerant loop; and MR (Mixed Refrigerant) processes broadly, which balance thermodynamic performance with operational flexibility across varying offshore conditions.

FLNG is gaining significant momentum driven by the accelerating global shift toward natural gas as a transition fuel, growing offshore gas discoveries in deepwater basins across Africa, Southeast Asia, and Australia, and the strategic preference for FLNG solutions over land‑based terminals in remote or environmentally sensitive locations. Shell’s Prelude FLNG, with a production capacity of approximately 3.6 million tonnes per annum (MTPA), remains the world’s largest floating offshore facility and a benchmark for the industry. Projects such as Coral Sul FLNG offshore Mozambique, which reached its first LNG cargo in 2022 with a capacity of 3.4 MTPA, underscore the growing commercial viability of this technology. Key players operating across this market include Shell, TechnipFMC, Excelerate Energy, Golar LNG, and Höegh LNG, each contributing to advancing liquefaction process efficiency and FLNG vessel design.

FLNG Floating LNG Production PRICO DMR MR Liquefaction Market – View in Detailed Research Report

📈 Product Definition

PRICO, DMR and MR are mixed‑refrigerant liquefaction cycles that have been adapted for the unique constraints of floating LNG facilities. PRICO is a single‑mixed refrigerant cycle that is highly mechanical‑simple, ideal for small‑scale FLNG vessels. DMR employs a dual‑mixed refrigerant approach, providing higher thermodynamic efficiency for larger‑capacity projects. MR is a versatile mixed‑refrigerant cycle that can be tuned for a wide range of feed‑gas compositions and production scales, making it a flexible choice for both large and mid‑scale FLNG deployments.

🔟 1. Shell

Headquarters: The Hague, Netherlands / London, United Kingdom
Key Offering: DMR liquefaction technology, FLNG vessel design, integrated project development

Shell has pioneered the DMR technology that powers its Prelude FLNG, the world’s largest floating LNG platform. The company’s deep expertise in offshore engineering and LNG trading gives it a competitive edge in delivering turnkey FLNG solutions that meet stringent safety and environmental standards.

Sustainability & Growth Initiatives: Shell is investing in carbon‑neutral LNG production, expanding its renewable gas portfolio, and pursuing joint ventures to unlock stranded offshore gas resources.

• Integrated LNG trading network for long‑term revenue certainty
• Advanced motion‑compensation systems for marine‑grade refrigeration
• Commitment to net‑zero emissions by 2050

9️⃣ 2. TechnipFMC

Headquarters: Paris, France
Key Offering: FLNG FEED, EPC integration, advanced engineering services

TechnipFMC delivers end‑to‑end engineering solutions for FLNG projects, leveraging its global experience in offshore platforms and LNG plants to optimize design, cost, and schedule.

Sustainability & Growth Initiatives: Focus on digital engineering, modular construction, and lifecycle cost optimization.

• Digital twin technology for real‑time monitoring
• Modular topside design for rapid deployment
• Collaborations with leading technology licensors

8️⃣ 3. Excelerate Energy

Headquarters: Houston, United States
Key Offering: FLNG concepts, FSRU conversion, LNG carrier retrofits

Excelerate Energy specializes in converting existing LNG carriers into FLNG units, enabling rapid deployment of mid‑scale floating liquefaction solutions.

Sustainability & Growth Initiatives: Emphasis on cost‑effective, modular FLNG platforms that reduce capital intensity.

• Rapid‑deployment FSRU‑to‑FLNG conversion kits
• Lower capital and operating cost models
• Partnerships with independent developers

7️⃣ 4. Golar LNG

Headquarters: Bermuda / Norway
Key Offering: FLNG vessel conversions, PRICO‑based liquefaction modules

Golar LNG has a proven track record of converting LNG carriers into FLNG vessels, delivering cost‑competitive solutions for mid‑scale projects.

Sustainability & Growth Initiatives: Focus on carbon‑neutral LNG supply chains and advanced refrigerant management.

• PRICO‑based liquefaction for reduced refrigerant inventory
• Integrated BOG management systems
• Strategic alliances with shipyards in Asia‑Pacific

6️⃣ 5. Höegh LNG

Headquarters: Oslo, Norway
Key Offering: FLNG development, FSRU operations, LNG carrier retrofits

Höegh LNG is expanding from FSRU operations into FLNG projects, leveraging its logistics expertise to support offshore LNG supply chains.

Sustainability & Growth Initiatives: Development of low‑carbon LNG transport solutions.

• Optimized LNG carrier retrofits for FLNG
• Global logistics network for BOG utilization
• Partnerships with technology licensors for advanced refrigeration

5️⃣ 6. Black & Veatch

Headquarters: Houston, United States
Key Offering: PRICO licence, engineering services, cryogenic solutions

Black & Veatch provides the PRICO licence and engineering support for FLNG projects, enabling streamlined deployment of single‑mixed refrigerant cycles.

Sustainability & Growth Initiatives: Commitment to low‑emission LNG solutions and advanced process optimization.

• Mechanical simplicity for reduced capital costs
• Advanced simulation tools for refrigerant optimisation
• Global technical support network

4️⃣ 7. Air Products & Chemicals, Inc. (APCI)

Headquarters: Allentown, United States
Key Offering: DMR and MR licences, cryogenic equipment, heat exchangers

APCI supplies key components and licences for DMR and MR cycles, supporting large‑scale FLNG projects worldwide.

Sustainability & Growth Initiatives: Focus on high‑efficiency refrigeration and refrigerant recycling.

• High‑performance heat exchangers for cryogenic systems
• Refrigerant optimisation for reduced environmental impact
• Collaborations with major LNG operators

3️⃣ 8. Chart Industries

Headquarters: Houston, United States
Key Offering: Brazed aluminum heat exchangers, cryogenic components

Chart Industries supplies critical heat‑exchanger technology for PRICO and MR cycles, ensuring reliable performance in harsh marine environments.

Sustainability & Growth Initiatives: Development of lightweight, corrosion‑resistant heat‑exchange solutions.

• High‑quality brazed aluminum heat exchangers
• Low‑weight designs for marine applications
• Global supply chain resilience

2️⃣ 9. TotalEnergies

Headquarters: Paris, France
Key Offering: FLNG project ownership, mixed‑refrigerant liquefaction, offshore development

TotalEnergies operates the Coral Sul FLNG in Mozambique, showcasing its ability to develop and operate large‑scale FLNG facilities in challenging environments.

Sustainability & Growth Initiatives: Expansion of offshore gas development with a focus on carbon‑neutral LNG.

• Integrated LNG supply chain management
• Partnership with ENI for joint ownership
• Investment in carbon‑capture technologies

1️⃣ 10. ENI

Headquarters: Rome, Italy
Key Offering: Offshore development, FLNG project ownership, mixed‑refrigerant technology

ENI has led the Coral Sul FLNG project, demonstrating its expertise in offshore gas development and FLNG operations.

Sustainability & Growth Initiatives: Commitment to low‑carbon LNG and offshore renewable energy integration.

• Strategic offshore gas development
• Partnerships with technology licensors for advanced refrigeration
• Investment in marine renewable projects

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🌍 Outlook: The Future of FLNG Floating LNG Production PRICO DMR MR Liquefaction Market

The FLNG market is set to expand as offshore gas discoveries continue to unlock stranded reserves, and as global demand for natural gas as a transition fuel grows. Technological advancements in PRICO, DMR, and MR cycles will drive higher efficiency and lower capital costs, while regulatory support for low‑carbon LNG and marine fuels will further enhance commercial viability. Investors are likely to focus on projects that combine FLNG with blue hydrogen or blue ammonia production, creating new revenue streams and strengthening the long‑term outlook.

📈 Future Trends Shaping the Market

• Modular and small‑scale FLNG concepts enabling rapid deployment in marginal fields.
• Integration of FLNG with blue hydrogen and blue ammonia value chains.
• Digitalization of FLNG operations for real‑time performance optimisation.
• Increased focus on carbon‑neutral LNG and reduced refrigerant emissions.