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Strategic managment implementation, for the golar lng company - Essay Example

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Strategic managment implementation, for the golar lng company

Floating Storage and Regasification Unit is a product of GolarLNG. According to their website, it is based on the conversion of an existing LNG carrier into a floating terminal that can be situated offshore or at a new or purpose-built jetty/pier. It will receive liquid natural gas (LNG) from offloading LNG carriers, and the onboard regasification system provides gas send-out through flexible risers and pipeline to shore.
European imports rose 0.9 bcf/d, where Spain led by +0.5 bcf/d and Italy by +0.1 bcf/d. The entire shortfall was absorbed by the US with import s down 1.7 bcf/d year-on-year. In 2009, overall 22 countries were importing LNG. The imports are expected to grow by a large amount in the coming years.
The Floating Storage and Regasification Unit have become really popular in the last few years. It is relatively a new concept, and Golar LNG is the first one in the world to deliver it. With this fact that they are the first one to introduce it, they have a competitive edge.
With these advantages, Golar LNG has to market its service in a way that it maintains its market share in FSRU. They haven’t marketed their service greatly in order to attract and retain their customers. For this purpose, they need to create a proper marketing plan.
Although this service does not have any specific customer. This service is for all the importers of LNG. But in order to start marketing, Golar has to cater to individual regions needs first. This marketing action plan will be the segment catering to the importers in Asia. The segment is made according to the demographics.
The FSRU service is for providing ease and comfort to the importers, who would easily be able to import LNG with the help of these floating terminals. The Service is positioned to be inexpensive, yet having a highly advanced technology.
Any kind of product or service needs marketing. In maritime industry, marketing is considered to be unimportant. But experts say that marketing is ...Show more


The first part contains the market action plan for Floating Storage and Regasification Unit of Golar LNG. The analysis of market is done. The market plan is made by the use of STP approach. The strategy involves various promotion mix tools.
Author : warren49
Strategic managment implementation, for the golar lng company essay example
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