China, India to lead Asia’s Regas Capacity Adds: Report
China and India are expected to dominate Asia’s LNG regasification capacity additions, contributing nearly 60% of the region’s total between 2020 and 2024, analytics company GlobalData said on July 13 in a report.
China is expected to develop a new-build regasification capacity of 4,117bn ft3 by 2024, GlobalData said, while expansion projects account for the remaining 229bn ft3.
“In China, 19 new-build LNG regasification terminals are likely to start operations by 2024 out of which 14 are planned with identified development plans and the remaining five are early-stage announced terminals,” Haseeb Ahmed, an oil and gas analyst at GlobalData, said.
Tangshan II is the largest planned LNG regasification terminal with a capacity of 584 bn ft3, followed by Zhoushan III and Hebei with a capacity of 341bn ft3 each, Ahmed added.
GlobalData expects India to be the second-highest contributor to Asia’s LNG regasification capacity additions, adding 2,511bn ft3 of capacity by 2024. The country has 11 planned and four announced LNG regasification terminals expected to come online during the period. The Karwar floating is the largest terminal in the country with a capacity of 365bn ft3 followed by Yanam with 268bn ft3.
Pakistan and Vietnam are expected to add 1,697bn ft3 and 645bn ft3 of LNG regasification capacity by 2024, respectively. Pakistan has six and Vietnam has three projects due on stream in the next four years. Thailand has two terminals slated to start up in the period, Nong Fab and Gulf of Thailand, with a combined capacity of 609bn ft3.