According to GlobalData, global LNG regasification capacity is expected to grow by 43% between 2019 and 2023, from 45.7 trillion ft3 in 2019 to 65.9 trillion ft3 by 2023.
The company’s report: ‘H1 2019 Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals – Kuwait Petroleum Leads Global Regasification Capacity Additions’ reveals that Kuwait Petroleum Corp is expected to lead the global oil and gas companies with the highest newbuild LNG regasification capacity additions of 1.2 trillion ft3 by 2023.
Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments: “Kuwait Petroleum leads globally due to its 100% equity stake in the Al-Zour terminal in Kuwait, which is expected to start operations in 2021 with a capacity of 1.2 trillion ft3. The terminal has a total new-build capex of US$3.6 billion. Kuwait Integrated Petroleum Industries Co is the operator of the terminal.”