China is expected to lead Asia’s LNG regasification capacity additions, contributing 36% of the total LNG regasification capacity additions between 2021 and 2025, forecasts GlobalData.
GlobalData’s report, ‘Asia Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2021 - 2025 – China Dominates LNG Regasification Capacity Additions and CAPEX Spending in Asia’, reveals that China is expected to add new-build LNG regasification capacity additions of 4380 billion ft3 by 2025, while the expansion projects account for the rest with 1576 billion ft3.
Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments: “Among the new-build and expansion projects that are likely to start operations in China during the forecast period, Tangshan II is the largest upcoming project with a capacity of 584.4 billion ft3. Yantai I and Zhoushan III are the other major projects with capacities of 487 billion ft3 and 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 3062 billion ft3 by 2025. Expansion projects account for the rest of the capacity additions with 365 billion ft3 by 2025. Kakinada GBS Floating leads LNG regasification capacity additions in the country with a capacity of 350.6 billion ft3 by 2025.
Pakistan is expected to be the third largest contributor to the LNG regasification capacity additions in India with 1752 billion ft3. Of these, new-build capacity additions account for 1697 billion ft3. Among the new-build projects in the country, Port Qasim is the largest upcoming project with a capacity of 438 billion ft3 and is expected to start operations in 2023.
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