Asset Performance Management (APM) for the LNG Market

The Liquefied Natural Gas (LNG) market is at a pivotal moment. The increasing demand for cleaner energy sources and a surge in infrastructure investments has positioned LNG as a crucial component in the global energy mix. However, this growth is tempered by uncertainties in supply, fluctuating demand in mature markets, and volatile pricing dynamics.

The global LNG market, valued at around USD 122.6 billion in 2024, is projected to reach USD 226.97 billion by 2030, reflecting a compound annual growth rate (CAGR) of approximately 11.6% (Source: Grand View Research). Additionally, in Shell’s latest 2025 LNG Outlook report, demand for liquefied natural gas globally is forecast to rise by around 60% by 2040 fuelled by the needs of heavy industry, transportation, and new loads such as data centres and AI infrastructure. (Source: Shell).

In the coming months, the key trends to watch include the pace of new supply projects, contract structures, policy and regulation, and the competition from alternative fuels such as hydrogen and renewable natural gas (RNG).

The LNG landscape is witnessing substantial capacity expansions. By the end of 2024, global liquefaction capacity had reached about 494.4 million tonnes per annum (MTPA) (Source: International Gas Union 2025 World LNG Report) . However, the number of final investment decisions (FIDs) for new export projects has significantly declined, indicating cautious investment.

North America, particularly the USA, leads in new liquefaction capacity, with several large-scale projects underway. Projects including the Golden Pass LNG, Plaquemines LNG, and Port Arthur LNG are expected to come online in the coming years, significantly boosting the region's liquefaction capacity. In the Middle East, Qatar's North Field expansions are set to redefine global benchmarks, with projects like North Field East and North Field West poised to add substantial capacity. Asia-Pacific is also seeing growth, with projects in Australia, Indonesia, and Malaysia contributing to the region's LNG capacity. Africa, though smaller in scale, has projects like Congo FLNG-2 and Cap Lopez that are crucial for the continent's energy needs. The integration of these new capacities into the global LNG supply chain will be a key focus in the coming years.

LNG facilities are complex systems that require meticulous management to ensure safe and efficient operations. The primary assets in an LNG facility include:

Did you know ? There is a 600% reduction in volume when natural gas is liquefied. (Source: Cameron LNG )

Each of these assets operates under extreme conditions, making them susceptible to various forms of degradation, including mechanical wear, thermal stress, and corrosion. Effective Asset Performance Management (APM) strategies are essential to monitor and maintain these assets.

APM in LNG involves:

The implementation of Asset Performance Management in LNG facilities is not without its challenges. One of the primary challenges is the integration of legacy systems with modern digital platforms. Many LNG facilities have been in operation for decades, and their existing systems may not be compatible with newer APM technologies. This requires careful planning and execution to ensure a smooth transition.

Another challenge is the management of data. LNG facilities generate vast amounts of data from various sensors, and processing this data in near real-time requires robust infrastructure and advanced analytics capabilities. Developing accurate predictive models for complex cryogenic processes is also a significant challenge. These models need to account for a wide range of variables and must be continuously updated to remain effective.

Fostering a data-driven maintenance culture is another critical aspect. Many organizations have traditionally relied on reactive or time-based maintenance strategies. Transitioning to a predictive maintenance approach requires a shift in mindset and the adoption of new processes and workflows.

The benefits of Asset Performance Management, however, are substantial: improved Mean Time Between Failures (MTBF), enhanced energy efficiency, yield improvements, and better safety compliance.

GE Vernova’s Asset Performance Management solution offers a comprehensive framework for LNG operators, combining asset health monitoring, predictive analytics, mechanical integrity, and maintenance optimization. The implementation roadmap begins by establishing business goals, identifying priority assets, and validating process changes on a smaller set of assets. Subsequently, users can scale up by expanding APM coverage to more assets and integrating with enterprise systems for end-to-end visibility.

GE Vernova’s APM is built on a configurable and interoperable platform with applications for complementary monitoring and maintenance processes. The solution includes capabilities such as an asset health index (AHI) that helps users quantify the health and condition of equipment and supports condition-based maintenance (APM Health), AI/ML-driven digital twin blueprints to forecast equipment failures and improve asset lifespan (SmartSignal), strategy tools to prioritize maintenance activities by balancing asset criticality, risk, and cost (APM Strategy), in-depth root cause investigations to eradicate chronic issues (APM Reliability), and a robust platform to manage integrity and inspection programs for static assets that are prone to Loss of Pressure Containment (LOPC) and corrosion (APM Integrity).

Some asset-specific use cases for the LNG market include:

With greater than 25% share in MTPA installed liquefaction capacity globally, GE Vernova’s APM solutions have been successfully deployed across several LNG operators, including Freeport LNG, TOTALEnergies, and a leading Middle East LNG operator.

One notable success story is the South Hook LNG Terminal Company (SHLNG), one of the largest terminals in Europe that meets approximately 20% of the UK’s daily natural gas needs. By using GE Vernova’s APM solution, SHLNG has eliminated 17% of its maintenance tasks and optimized 73% of its proactive maintenance tasks, leading to significant cost savings and improved reliability.

Read the full South Hook LNG customer story.

Asset Performance Management (APM) is essential for the future of LNG operations. As demand grows and infrastructure becomes more complex, APM supports more reliable, safe, and efficient operations. By shifting from reactive to predictive and prescriptive maintenance, leveraging software tools, and integrating with enterprise systems, LNG operators can achieve higher asset availability, lower total cost of ownership, and stronger safety and compliance. The future of LNG lies in smart, data-driven operations, and GE Vernova is at the forefront of this transformation.