North America and Asia are expected to lead capacity growth in the global LNG liquefaction and regasification industries from planned and announced (new-build) projects, respectively between 2019 and 2023, according to GlobalData.
The company’s report ‘Global Planned LNG Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Planned Terminals’ reveals that North America is expected to account for 74% of the total global new-build liquefaction capacity in 2023.
North America’s new-build liquefaction capacity is expected to grow from 26.1 million tpy in 2019 to 253.2 million tpy in 2023. The Middle East and the Former Soviet Union follow with the capacities of 32.0 million tpy and 27.1 million tpy, respectively, in 2023.
Ashwin Gupta, Oil & Gas Analyst at GlobalData, explains: “A total of 27 new-build LNG liquefaction projects are expected to start operations in North America during the outlook period. Of these, 13 represents the number of planned projects with identified development plans while the rest of the 14 represent announced, early-stage projects.”
On the regasification front, Asia leads globally in terms of capacity growth from planned and announced projects with 11.2 trillion ft3 of capacity expected to come online in 2023. The Middle East and Europe follow with capacities of 2.3 trillion ft3 and 2.1 trillion ft3, respectively.
Of the 11.2 trillion ft3 of capacity additions in Asia in 2023, planned projects account for 3.3 trillion ft3 while early-stage, announced projects account for the remaining 8.0 trillion ft3.
In terms of the largest liquefaction terminals in the outlook period by capacity, Qatar LNG terminal leads among all the terminals globally with a capacity of 32 million tpy. The announced terminal is expected to start operations in 2023.
As for the regasification terminals, the Al-Zour terminal in Kuwait is the top LNG regasification terminal globally in terms of capacity with 1.2 trillion ft3. The planned terminal is expected to come online by 2020.
Read the article online at: https://www.tanksterminals.com/terminals/06062019/north-america-and-asia-lead-global-new-build-lng-capacity-growth/
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