Asia is expected to dominate global new build and expansion of liquefied natural gas (LNG) regasification capacity additions. The region will contribute about 74% of total global capacity additions by 2025, according to GlobalData.
The company’s latest report reveals that Asia is expected to witness the highest capacity additions globally from new build and expansion projects during the outlook period 2021 to 2025 with 15.2 trillion cubic feet (tcf).
“China primarily drives the LNG regasification capacity additions in Asia by 2025. Among new build and expansion projects expected to start operations during 2021 to 2025 in China, the Tangshan II terminal is expected to witness the highest capacity additions in the country with 584.4 billion cubic feet (bcf) by 2025,” said Bhargavi Gandham, oil and gas analyst at GlobalData.
GlobalData identified Europe as the second highest contributor to the global LNG regasification capacity additions accounting for about 9% of the total additions by 2025. Brunsbuttel in Germany drives the new build LNG regasification capacity in the region with 282.4 bcf by 2025.
The Middle East ranks third globally contributing about 7% of the world’s LNG regasification capacity additions during the outlook period 2021–2025. Al-Zour in Kuwait drives the new build regasification capacity additions in the region with 1,155 bcf by 2025.
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