29 Aug 2019
in Oil & Gas
North America to drive global LNG liquefaction industry contributing 73% of new-build capacity growth by 2023
North America is expected to drive capacity growth in the global liquefied natural gas (LNG) liquefaction industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 73% of global growth by 2023, according to GlobalData, a leading data and analytics company.
The company’s report, ‘Global LNG Liquefaction Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Liquefaction Terminals’, reveals that North America is expected to have a new-build liquefaction capacity of 243 million tonnes per annum (mtpa) by 2023. Announced projects account for most of the new-build capacity in the region.
Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, says: “North America is expected to add 26 new-build LNG liquefaction terminals during the outlook period. Among these, Rio Grande is the largest new-build liquefaction terminal, which is expected to start operations in 2023 with a capacity of 27 mtpa.”
Following North America, GlobalData identifies the Middle East as the second highest region in terms of global LNG liquefaction capacity growth. The region will add a new-build liquefaction capacity of 32 mtpa by 2023. The Qatar LNG terminal in Qatar is the only announced terminal in the Middle East accounting for entire capacity growth by 2023.
The Former Soviet Union stands third with new-build LNG liquefaction capacity of 29 mtpa by 2023. Russia accounts for all the capacity growth in the region with four projects.