China to lead Asia and Oceania liquids storage capacity growth

The company’s report, ‘Liquids Storage Industry Outlook in Asia and Oceania to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Terminals’, reveals that China is likely to have a new-build liquids storage capacity of 22.3 million m³ by 2023.

Varun Ette, Oil and Gas Analyst at GlobalData, comments: “In China, 10 planned and two announced liquids storage terminals are expected to start operations during the forecast period. The Zhanjiang IV terminal, which is expected to start operations in 2022, will have the highest liquids storage capacity among all the terminals with 7.0 million m³.”

Following China, GlobalData identifies Indonesia as the second highest contributor to the liquids storage capacity growth in Asia and Oceania with a new-build capacity of 6.1 million m³ by 2023. Of the total capacity, 4.5 million m³ is likely to come from early-stage announced projects and the rest is from planned terminals.

India is the third-highest contributor to the liquids storage capacity growth in Asia and Oceania. The country is expected to witness start of operations of 18 planned and announced liquids storage terminals by 2023 with a total capacity of 3.3 million m³. Mandvi will have the highest liquids storage capacity of 800 000 m³. It is expected to start operations in 2022.

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