08 Jun 2021
Posted in Oil & Gas
China to lead global LNG regasification capacity additions by 2025, says GlobalData
China is expected to lead the global LNG regasification capacity additions, contributing 27% of the total LNG regasification capacity additions between 2021 and 2025, says GlobalData, a leading data and analytics company.
The company’s report, ‘Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2021–2025 – Asia Dominates Global Regasification Capacity Additions and Capex Spending’ reveals that China is expected to add a new- build LNG regasification capacity addition of 4,191 bcf (billion cubic feet) by 2025, while expansion projects account for the rest with 1,308 bcf.
Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments: “In China, 26 new- build and expansion projects are likely to start operations by 2025. Tangshan II is the largest upcoming project in the country with a capacity of 584.4 bcf by 2025. 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 2,882 bcf by 2025. Expansion projects account for the rest of the capacity additions with 365 bcf by 2025. ‘Karwar Floating’ and ‘Jaigarh Port Floating’ projects lead LNG regasification capacity additions in the country with capacities of 365 bcf and 274 bcf, respectively.
Pakistan is expected to be the third largest contributor to the LNG regasification capacity additions globally with 1,752 bcf. Of these, new build capacity additions account for 1,697 bcf and expansion capacity additions account for 55 bcf by 2025. Among the new build projects in the country, Port Qasim is the largest upcoming project with a capacity of 438 bcf. It is expected to start operations in 2023.