16 Sep 2019
in Oil & Gas
Fortress Investment Group to lead global small-scale LNG liquefaction capacity additions by 2023
Fortress Investment Group is expected to lead capacity additions from planned and announced (new-build) projects in the global small-scale liquefied natural gas (LNG) liquefaction industry between 2019 and 2023, contributing around 25% of global small-scale LNG liquefaction capacity growth by 2023, according to GlobalData, a leading data and analytics company.
The company’s report, ‘Global Small-Scale LNG Liquefaction Capacity and Capital Expenditure Outlook – The US Leads Globally on Capacity Additions and Capital Expenditure Outlook’, reveals that Fortress Investment Group will have new-build small-scale LNG liquefaction capacity of 4,240 thousand tonnes per annum (ktpa) by 2023 from two announced projects.
Adithya Rekha, Oil and Gas Analyst at GlobalData, says: “Browntown and Browntown II, both in the US, are the major announced small-scale LNG liquefaction terminals in Fortress Investment Group’s portfolio, each contributing a new-build capacity of 2,120 ktpa by 2023. Browntown is expected to commence operations in 2020 and Browntown II in 2021.”
Following Fortress Investment Group, Gazprom will add the second-highest new-build small-scale LNG liquefaction capacity globally with 2,050 ktpa by 2023. The Portovaya LNG liquefaction terminal in Russia is the largest new-build LNG liquefaction terminal in the company’s portfolio with a capacity of 1,500 ktpa. The terminal is expected to start operations in 2019.
Shaanxi Gas Group Co Ltd stands third globally with a new-build small-scale LNG liquefaction capacity of 1,400 ktpa. The Xi an terminal in China, which is expected to start operations in 2020, will account for the entire capacity additions in the company’s portfolio.