GlobalData: China to spearhead regasification capacity through 2027

GlobalData’s report ‘LNG industry outlook by capacity and capital expenditiure (CApEx) including details of all operating and planned terminals to 2027,’ reveals that China is likely to witness a total LNG regasification capacity additions of 7662 billion ft3 is expected to come from new build terminals and while the remaining capacity will be from the expansion of the existing regasification terminals.

Himani Pant Pandey, oil and gas analyst at Global data commented “China is rapidly expanding its regasification capacity to meet its ever-growing demand of natural gas in the country. The Capacity additions will also help it to replace coal with gas for power generation and meet its carbon neutral objectives.”

The announced Zhoushan II terminal will be the largest contributor to the LNG regasification capacity additions in China by 2027. The terminal is expected to start operation in 2025 with a capacity of 292 billion ft3 which is further expected to increase 584 billion ft³ by 2027.

Yantai I is the second largest terminal in China in terms of LNG regasification capacity additions by 2027. Yantai LNG Group is the proposed operator of this planned terminal and POLY GCL Petroleum Investment Ltd holds a 100% stake in the proect. The terminal is expected to start operations in 2024 with an estimated capacity of 287 ft3, which is further expected to increase by 487 billion ft³ by 2027.

“Among the expansion projects, Qingdao regasification terminal will be the largest contributor to the capacity additions in China, 341 billion ft³ of capacity expected to be added by 2024.

Read the article online at: https://www.lngindustry.com/regasification/14122023/globaldate-china-to-spearhead-regasification-capacity-through-2027/