BAKU, Azerbaijan, April 8. In 2023, global regasification capacity could reach a record high with 163 Mtpa of capacity targeting to start operations, Trend reports with reference to the Gas Exporting Countries Forum (GECF).
"Asia Pacific drives the regasification capacity addition this year with 69 percent, followed by Europe (23 percent) and LAC (8 percent). At a country level, China alone accounts for 66 Mtpa of the new regasification capacity this year, followed by India (19 Mtpa), Germany (18 Mtpa), Philippines (18 Mtpa), Brazil (12 Mtpa) and Türkiye (6 Mtpa). Estonia, Philippines and Vietnam are expected to join the club of LNG importers this year. Between January and March 2023, Germany added 11 Mtpa of new regasification capacity via three FSRUs while, Estonia started LNG imports from the Inkoo FSRU (3.7 Mtpa) in Finland, which is a joint project between Estonia and Finland," reads the GECF report.
GECF analysts believe that further ahead in 2024, the addition of new regasification capacity is forecasted to decline sharply to 39 Mtpa.
The new regasification capacity is expected to come from China (18 Mtpa), India (5 Mtpa), Vietnam (5 Mtpa), Philippines (4.2 Mtpa), Italy (3.7 Mtpa) and Taiwan (Province of China) (3 Mtpa).
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