05 Nov 2021
Posted in Oil & Gas
China to lead Asia LNG regasification capacity additions through 2025, forecasts GlobalData
China is expected to lead the Asia’s LNG regasification capacity additions, contributing 36% of the total LNG regasification capacity additions between 2021 and 2025, forecasts GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Asia Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2021–2025 –China Dominates LNG Regasification Capacity Additions and Capex Spending in Asia’, reveals that China is expected to add a new- build LNG regasification capacity additions of 4,380 bcf (billion cubic feet) by 2025, while the expansion projects account for the rest with 1,576 bcf.
Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments: “Among the new build and expansion projects that are likely to start operations in China during the forecast period, Tangshan II is the largest upcoming project with a capacity of 584.4 bcf. Yantai I and Zhoushan III are the other major projects with capacities of 487 bcf and 340.9 bcf, respectively.”
GlobalData identifies India to be the second-highest contributor to the global LNG regasification capacity additions with new build LNG regasification capacity additions of 3,062 bcf by 2025. Expansion projects account for the rest of the capacity additions with 365 bcf by 2025. Kakinada GBS Floating leads LNG regasification capacity additions in the country with a capacity of 350.6 bcf by 2025.
Pakistan is expected to be the third largest contributor to the LNG regasification capacity additions in India with 1,752 bcf. Of these, new build capacity additions account for 1,697 bcf. Among the new build projects in the country, Port Qasim is the largest upcoming project with a capacity of 438 bcf and is expected to start operations in 2023.