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North America LNG liquefaction capacity to see major boost in 2023

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LNG Industry,

According to GlobalData, North America is expected to add approximately 265 million tpy of LNG liquefaction capacity in 2023.

North America will be the major contributor to the growth of global LNG liquefaction capacity between 2019 and 2023, accounting for around 72% of the total global capacity from planned and announced projects, according to GlobalData, a leading data and analytics company.

The company’s report: ‘H1 2019 Global Capacity and Capital Expenditure Outlook for LNG Liquefaction Terminals – US Continues to Dominate Global Liquefaction Market with Staggering Capacity Additions’ reveals that around 366 million tpy of LNG liquefaction capacity is expected to be added during the outlook period (2019 – 2023), from planned and announced projects globally.

The US plans to add the highest total capacity of roughly 215 million tpy by 2023 from planned and announced LNG liquefaction terminals. Canada follows with a LNG liquefaction capacity addition of around 34 million tpy. In addition, the US and Canada are also top new-build capex spenders globally on planned and announced LNG liquefaction projects; for the period 2019 – 2023.

Ashwin Gupta, Oil & Gas Analyst at GlobalData, comments: “The two North American countries, the US and Canada, will drive the global liquefaction capacity additions due to booming shale gas production. The US in particular is adding staggering liquefaction capacity additions, disrupting the global LNG supply chain.”

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