Japan Leads Asia with Most LNG Regasification Capacity
- Asia has high natural gas consumption and is mainly dependent on imports, especially via LNG, to meet its gas needs. As a result, the region has the largest regasification capacity in the world with more than 50% share
- Japan currently is one of the largest importers of LNG in Asia as well as globally. The country has negligible natural gas production and relies almost entirely on LNG imports to meet its high gas demand. This has resulted in the construction of massive regasification capacity over the years with the first LNG imports beginning way back in 1969
- China leads Asia in terms of upcoming regasification capacity additions by 2026. Natural gas consumption in the country is increasing significantly due to the coal-to-gas switch for power generation, growing industrial and domestic consumption, and the efforts to become carbon neutral by 2060
Presently, Japan accounts for 39% of the total active (operational) LNG regasification capacity in Asia from 36 LNG regasification terminals. Only the planned Niihama terminal would add a capacity of 49 bcf during 2022 to 2026.
China has a 19% share in Asia’s active regasification capacity in 2022 from 21 terminals. The country would witness capacity additions of 5.4 tcf from 23 planned and announced projects during 2022 to 2026. If all upcoming projects are realized as planned, China would surpass Japan in terms of regasification capacity in Asia.
South Korea contributes about 17% of Asia’s LNG regasification capacity from seven terminals. A regasification capacity of 565 bcf would be added from the upcoming Seomkum terminal in 2025.
The fourth-largest contributor to Asia’s active LNG regasification capacity is India with 9% share from seven active terminals. A total of 16 planned and announced projects are expected to add a capacity of 3 tcf during 2022 to 2026.
Other notable contributors to Asia’s active regasification capacity include Taiwan, Thailand, Singapore, Pakistan, and Indonesia, with each country contributing about 2% share. These countries are expected to collectively add a regasification capacity of 2.5 tcf from 12 upcoming terminals.
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