Asia is set to lead the global liquids storage capacity additions during 2026 to 2030, supported by a strong pipeline of new build and expansion projects. The region is also expected to account for the highest number of upcoming liquids storage projects globally, reflecting continued investment in storage infrastructure to support growing crude oil and refined product handling requirements, increasing strategic reserves, and expanding trade activity.
New build projects are expected to play an important role across Asia, particularly led by large-capacity refinery terminal and strategic petroleum reserves (SPR) developments, as countries continue to develop storage infrastructure to support domestic supply security and international trade. Expansion projects will also contribute to regional storage growth by increasing capacity at existing facilities and strengthening the ability to handle crude oil and refined products.
Countries such as China and India lead Asia’s liquids storage projects pipeline, as well as capacity additions, by 2030, supporting both refining infrastructure and strategic storage requirements. Projects such as the Zhoushan V Expansion (refinery terminal) and the Ningbo V (port terminal) are the major upcoming projects in China, while in India, SPR-type projects are the notable developments (Bikaner, Chandikhol, and Rajkot) and are expected to strengthen the country's storage infrastructure.
The project pipeline in Asia is progressing across different development stages, with about half of the projects already under construction while others remain mostly in the feasibility and approval stages. This indicates that liquids storage capacity additions in Asia are more likely to be realised through the end of the decade, supported by a combination of new storage facilities and expansions at existing assets.
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