10 Aug 2020
Posted in Oil & Gas
China to dominate Asian refinery coking units’ capacity growth by 2024, says GlobalData
China is expected to lead Asia’s refinery coking units’ capacity growth, contributing about 94% of the region’s total capacity growth by 2024. The country is likely to add 351 thousand barrels per day (mbd) of coking capacity by 2024, says GlobalData, a leading data and analytics company.
GlobalData’s report,‘Global Refinery Coking Units Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Coking Units’, reveals that Asia’s coking capacity is expected to increase by 374 mbd, from 3,489 mbd in 2020 to about 3,863 mbd by 2024. Out of the Asia’s total capacity additions, 47 mbd is likely to come from expansions of active projects while the remaining 327 mbd is expected to come from new-build projects.
Haseeb Ahmed, Oil and Gas Analyst at GlobalData, comments: “Out of the China’s total refinery coking capacity additions of 351 mbd by 2024, 24 mbd is likely to come from active expansion projects while the remaining 327 mbd is expected to be contributed by new-build projects by 2024. Among the refineries in China, Jieyang, Panjin II and Lianyungang II are the major refineries with coking units, accounting for most of the capacity additions in the country with a combined total of 271 mbd by 2024.”
GlobalData expects India to account for the remaining 23 mbd of refinery coking capacity additions in Asia by 2024. It is expected to contribute about 6% of Asia’s refinery coking capacity growth, with Numaligarh refinery accounting for most of the capacity additions with 22.9 mbd by 2024.