Asia to Lead Global Regas Capacity Growth: Report
Asia is expected to lead the global new-build LNG regasification capacity additions from the planned and announced (new-build) projects, GlobalData said in a report October 21.
The report said that Asia is expected to add a new-build liquids storage capacity of 8.2 trillion ft3 by 2023. These additions are expected to contribute around 56% of the global new-build regasification terminals’ capacity during the outlook period 2019 to 2023, GlobalData said.
“In Asia, a total of 47 terminals are expected to contribute a new-build capacity of 8.2 trillion ft3 by 2023. Of these, Bangladesh’s Matarbari terminal has the highest LNG regasification capacity of 0.54 trillion ft3. The terminal is expected to start operations in 2023,” Adithya Rekha, an analyst at GlobalData, said.
According to the report, Europe will follow Asia in terms of new-build global LNG regasification capacity additions. A total of 10 planned and announced regasification terminals in the region are expected to add a new-build capacity of 2.1 trillion ft3 by 2023. Among the upcoming terminals in the region, Wilhelmshaven floating terminal in Germany is expected to have the highest capacity of 0.35 trillion ft3 by 2023.
The Middle East stands third with new-build LNG regasification capacity of 2.1 trillion ft3 in 2023. The Al-Zour terminal in Kuwait would account for more than half of the region’s regasification capacity. This planned onshore terminal is expected to come online in 2020 with a regasification capacity of 1.2 trillion ft3, GlobalData said.