23 Sep 2020
Posted in Oil & Gas
FSU and Asia spearhead global refinery coking unit capacity growth by 2024, says GlobalData
The Former Soviet Union (FSU) and Asia are expected to lead the global refinery coking unit capacity growth, contributing around 75% of the total global capacity growth by 2024. The two regions are likely to add in the region of 757 thousand barrels per day (mbd) of refinery coking capacity by the end of 2024, trumping Europe and the Middle East, which have no active additions, according to 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 the global refinery coking capacity is expected to increase by about 1,006mbd, from 9,664mbd in 2020 to around 10,670mbd by 2024. Of the total capacity additions, 845mbd is expected to come from new build planned and announced projects, while the remaining 161mbd is likely from expansions of active projects.
Haseeb Ahmed, Oil and Gas Analyst at GlobalData, comments: “FSU, the leading region in terms of refinery coking capacity additions by 2024, is likely to add 383mbd by 2024 from new build and active expansion projects. In the region, Russia accounts for most of the capacity additions with a combined total of nearly 333 thousand barrels per day (mbd) by 2024, followed by Belarus contributing 32mbd.”
GlobalData expects Asia to occupy second place in terms of coking capacity additions by 2024. The region is expected to contribute about 37% of the global coking capacity growth, with total capacity additions of 374mbd by 2024. China accounts for most of the capacity additions with 351mbd.
North America is likely to be the third-highest region globally, adding 143mbd by 2024. The Middle East and Europe together contribute 83mbd, accounting for nearly eight percent of the global coking capacity growth by 2024.