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LNG regas capacity to grow

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Hydrocarbon Engineering,

Global LNG regasification capacity is expected grow by 39.6% between 2018 and 2022, from 45.9 trillion ft3 in 2018 to 64.1 trillion ft3 in 2022, according to GlobalData.

Bangladesh Oil, Gas and Mineral Corp. (Petrobangla) and Kuwait Petroleum Corp. lead in terms of capacity additions throughout the forecast period. Both companies are expected to add 1.1 trillion ft3 to the global LNG regasification capacity by 2022. Kuwait Petroleum Corp. has a proposed CAPEX of US$3 billion to be spent on planned regasification projects between 2018 and 2022. Al-Zour in Kuwait is the largest planned terminal globally in the forecast period, with capacity of 1.1 trillion ft3 and also has the highest CAPEX spending among the global LNG regasification terminals (US$3 billion).

Asia and Europe lead in terms of both planned regasification capacity additions and CAPEX spending. Together, the regions contribute more than 65% of the global regasification capacity growth and about 75% of the global CAPEX spending during the forecast period. Asia is expected to contribute about 12.6 trillion ft3 of the global regasification capacity through 65 projects, followed by Europe with 2.8 trillion ft3 of planned capacity additions through 15 projects.

Globally, India leads in terms of planned regasification capacity additions with 5.1 trillion ft3, followed by China with 2.5 trillion ft3. In terms of CAPEX spending, China leads with a proposed CAPEX of US$15.5 billion, followed by India with US$6.2 billion.

This information is based on GlobalData’s report: ‘Semi-Annual Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals – Petrobangla and Kuwait Petroleum Lead Global Capacity Additions.’

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