India is expected to lead with 18% capacity share in the global LNG regasification industry from new-build (planned and announced) projects between 2019 and 2023, according to GlobalData.
The company’s report, ‘H2 2019 Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals – India Continues to Dominate Global Regasification Capacity Additions and Capex Spending’, reveals that India has the highest LNG regasification capacity additions of 2.7 trillion ft3 globally by 2023 from 17 planned and announced new-build regasification terminals.
Of the total new-build capacity, 2.2 trillion ft3 will come from planned projects that have received required approvals for development, and the remaining 500 billion ft3 will come from early-stage announced projects.
Adithya Rekha, Oil and Gas Analyst at GlobalData, explains: “Among the upcoming regasification terminals in India, Karwar Floating has the highest capacity of 365 billion ft3. This planned offshore terminal is expected to start operations in the Karnataka state by 2020.”
Pakistan is expected to have the second highest regasification capacity additions globally by 2023. The country is expected to add 1.3 trillion ft3 of regasification capacity through five terminals by 2023.
Of this total capacity, 1.0 trillion ft3 is expected to come from four planned projects while 200 billion ft3 is likely to come from an early-stage announced project, Sonmiani Floating.
China closely follows Pakistan with the third highest global regasification capacity additions of 1.2 trillion ft3 by 2023. Three announced projects are expected to add a total capacity of 635.3 billion ft3 by 2023 while five planned regasification terminals will account for the remaining 574.6 billion ft3 of LNG regasification capacity.
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