Asia is expected to dominate the global new build and expansion regasification capacity additions, contributing about 74% of the total global capacity additions by 2025, says GlobalData, a data and analytics company.
The company’s report, Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2021–2025 – Asia Dominates Global Regasification Capacity Additions and Capex Spending, reveals that the 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).
Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments, “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.”
GlobalData identifies 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 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.