Asia is expected to witness the highest small-scale LNG liquefaction capacity additions globally during 2022 to 2026, contributing about 27% of the total global small-scale LNG liquefaction capacity additions by 2026, says GlobalData, a data and analytics company.
GlobalData’s report, Small-Scale LNG Liquefaction Capacity and Capital Expenditure (CapEx) Forecast by Region, Countries and Companies including details of New Build and Expansion (Announcements and Cancellations) Projects, 2022–2026, reveals that Asia is likely to witness a total small-scale LNG capacity addition of 3,850 thousand tonnes per annum (ktpa) by 2026. All capacity additions in the region are through new build projects.
Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments, “China almost entirely drives the small-scale LNG liquefaction capacity additions in Asia by 2026. Bangladesh and Vietnam are the other two countries contributing to the remaining capacity additions in the region. Growth of small-scale LNG liquefaction capacity, especially in China, can be ascribed to relatively ‘small initial’ investments, and the rising demand from LNG-powered trucks.”
GlobalData identifies Africa as another significant region, contributing about 16.4% of the world’s small-scale LNG liquefaction capacity additions during the 2022-2026 outlook period. Rumuji terminal in Nigeria leads in terms of upcoming capacity in the region with 1,090 ktpa.
North America would also witness small-scale LNG liquefaction capacity additions of 2,350 ktpa during 2022-2026. Galveston Bay Floating terminal in the US leads in terms of upcoming capacity with 500 ktpa expected to be added by 2026.