North America to drive LNG growth
Published by Callum O'Reilly,
Tanks and Terminals,
North America is expected to drive capacity growth in the global LNG liquefaction industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 73% of global growth by 2023, according to GlobalData.
The company’s report, ‘Global LNG Liquefaction Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Liquefaction Terminals’, reveals that North America is expected to have a new-build liquefaction capacity of 243 million tpy by 2023. Announced projects account for most of the new-build capacity in the region.
Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, said: “North America is expected to add 26 new-build LNG liquefaction terminals during the outlook period. Among these, Rio Grande is the largest new-build liquefaction terminal, which is expected to start operations in 2023 with a capacity of 27 million tpy.”
Following North America, GlobalData identifies the Middle East as the second highest region in terms of global LNG liquefaction capacity growth. The region will add a new-build liquefaction capacity of 32 million tpy by 2023. The Qatar LNG terminal in Qatar is the only announced terminal in the Middle East accounting for entire capacity growth by 2023.
The Former Soviet Union stands third with new-build LNG liquefaction capacity of 29 million tpy by 2023. Russia accounts for all the capacity growth in the region with four projects.
Read the article online at: https://www.tanksterminals.com/terminals/29082019/north-america-to-drive-lng-growth/
You might also like
BP and PetroChina International London underwrite Gate’s capacity expansion.
BP and PetroChina have agreed to acquire 2 billion m3/yr of regasification and storage capacity at Gate terminal.