North America will continue to dominate the global LNG liquefaction capacity additions, contributing about 59% of the total capacity additions between 2023 and 2027, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘LNG Liquefaction Terminals Capacity and Capital Expenditure (CapEx) Forecast by Region, Key Countries, Companies and Projects (New Build, Expansion, Planned and Announced), 2023-2027’, reveals that North America is expected to witness the highest capacity additions globally, by gaining a total capacity of 272.1 million tpy from new build and expansion projects during the outlook period.
“The US will primarily drive the LNG liquefaction additions in North America through 2027, accounting for nearly 80% of the region’s total capacity additions by 2027. Strong global demand for LNG and the availability of abundant shale gas are driving the growth of LNG terminals in North America, commented Himanu Pant Pandey, Oil and Gas Analyst as GlobalData.”
GlobalData identifies Mexico as the second highest contributor to North America’s LNG liquefaction capacity additions, accounting for about 12% of total LNG liquefaction capacity additions in North America during the outlook period. The Sonora liquefaction terminal will be the primary driver for capacity additions in the country.
“Canada follows Mexico, accounting for about 8% of the total capacity additions in the region by 2027. The proposed LNG Canada liquefaction terminal is the main driver for LNG liquefaction capacity additions in the country with a capacity of 14.0 milliion tpy by 2027,” concluded Pandey.
Read the article online at: https://www.lngindustry.com/special-reports/22082023/globaldata-north-america-to-continue-to-dominate-global-lng-liquefaction-capacity-additions-through-2027/
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