Baku, Azerbaijan, Aug.20
By Leman Zeynalova - Trend:
Asia is expected to lead the global LNG regasification industry capacity growth from new-build (planned and announced) projects between 2019 and 2023 with 63 percent share, Trend reports citing GlobalData, a leading data and analytics company.
The total regasification capacity of planned and announced terminals in Asia is expected to be 11.6 trillion cubic feet (tcf) by 2023. Of this capacity growth, 8.2 tcf will come from early-stage announced projects and the remaining 3.4 tcf will come from planned projects that have received required approvals for development.
“In Asia, a total of 62 planned and announced terminals are expected to start operations by 2023. Of these, two announced terminals, Matarbari in Bangladesh and Yanam in India, have the highest capacities of 548 bcf and 536 bcf, respectively,” said Soorya Tejomoortula, Oil and Gas Analyst at GlobalData.
The Middle East is expected to have the second highest regasification capacity growth globally, followed by Asia. The regasification capacity of the region is expected to be 2.3 tcf by 2023. Of this capacity growth, 1.4 tcf is expected to come from planned projects while 0.8 tcf capacity will be added by early-stage announced projects.
“In the Middle East, two planned regasification terminals, Al-Zour in Kuwait and Bahrain Floating in Bahrain, are expected to start operations by 2023. The Al-Zour terminal is the largest planned regasification project globally with a capacity of 1.2 tcf,” Tejomoortula concluded.
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