India is expected to drive capacity growth in Asia and Oceania’s LNG regasification industry from planned and announced (newbuild) projects between 2019 and 2023, contributing approximately 35% of the total growth, according to GlobalData.
The company’s report ‘LNG Regasification Industry Outlook in Asia and Oceania to 2023 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Regasification Terminals’ reveals that India’s newbuild regasification capacity is expected to grow from 730.5 billion ft3 in 2019 to 3209 billion ft3 in 2023.
The planned terminals, which have received relevant approvals in India, are expected to contribute 1,784.6 billion ft3 of capacity in 2023 while early-stage announced projects are expected to contribute 1,424.5 billion ft3 of capacity.
Arpan Roychowdhury, Oil and Gas Analyst at GlobalData, comments: “A total of 17 newbuild terminals are expected to contribute LNG regasification capacity growth in India during the outlook period. Among these, eight are planned terminals while nine are announced terminals. The Yanam regasification terminal is expected to add the highest capacity of 535.7 billion ft3 among these terminals in 2023.”
GlobalData identifies China as the second highest country in terms of regasification capacity growth in Asia and Oceania in 2023. Around 58% of the country’s regasification capacity growth is expected to come from four early-stage announced projects while the remaining 42% will come from four planned terminals. The Putian terminal is expected to have the highest capacity among these terminals with 292.2 billion ft3 of capacity in 2023.
Bangladesh is expected to add all of its newbuild capacity growth from three announced regasification terminals by 2023. Of these, the Matarbari III terminal is expected to have the highest capacity of 362.3 billion ft3 in 2023.
The full report from GlobalData can be acquired here.
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