Asia to Lead Global Regas Capacity Growth: Report

Asia is expected to lead the global new-build LNG regasification capacity additions from the planned and announced (new-build) projects, GlobalData said in a report October 21.

The report said that Asia is expected to add a new-build liquids storage capacity of 8.2 trillion ft³ by 2023. These additions are expected to contribute around 56% of the global new-build regasification terminals’ capacity during the outlook period 2019 to 2023, GlobalData said.

“In Asia, a total of 47 terminals are expected to contribute a new-build capacity of 8.2 trillion ft³ by 2023. Of these, Bangladesh’s Matarbari terminal has the highest LNG regasification capacity of 0.54 trillion ft³. The terminal is expected to start operations in 2023,” Adithya Rekha, an analyst at GlobalData, said.

According to the report, Europe will follow Asia in terms of new-build global LNG regasification capacity additions. A total of 10 planned and announced regasification terminals in the region are expected to add a new-build capacity of 2.1 trillion ft³ by 2023. Among the upcoming terminals in the region, Wilhelmshaven floating terminal in Germany is expected to have the highest capacity of 0.35 trillion ft³ by 2023.

The Middle East stands third with new-build LNG regasification capacity of 2.1 trillion ft³ in 2023. The Al-Zour terminal in Kuwait would account for more than half of the region’s regasification capacity. This planned onshore terminal is expected to come online in 2020 with a regasification capacity of 1.2 trillion ft³, GlobalData said.