GlobalData: China to lead global LNG regasification capacity

The company’s report, ‘Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2021–2025 - Asia Dominates Global Regasification Capacity Additions and Capex Spending’ reveals that China is expected to add a new-build LNG regasification capacity addition of 4191 billion ft³ by 2025, while expansion projects account for the rest with 1308 billion ft³.

Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments: “In China, 26 new-build and expansion projects are likely to start operations by 2025. Tangshan II is the largest upcoming project in the country with a capacity of 584.4 billion ft³ by 2025. Yantai I and Zhoushan III are the other major projects with capacities of 487 billion ft³and 340.9 billion ft³, respectively.

GlobalData identifies India to be the second-highest contributor to the global LNG regasification capacity additions with new build LNG regasification capacity additions of 2882 billion ft³ by 2025. Expansion projects account for the rest of the capacity additions with 365 billion ft³ by 2025. ‘Karwar Floating’ and ‘Jaigarh Port Floating’ projects lead LNG regasification capacity additions in the country with capacities of 365 billion ft³ and 274 billion ft³, respectively.

Pakistan is expected to be the third largest contributor to the LNG regasification capacity additions globally with 1752 billion ft³. Of these, new-build capacity additions account for 1697 billion ft³ and expansion capacity additions account for 55 billion ft³ by 2025. Among the new-build projects in the country, Port Qasim is the largest upcoming project with a capacity of 438 billion ft³. It is expected to start operations in 2023.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09062021/globaldata-china-to-lead-global-lng-regasification-capacity/