China is expected to lead the global LNG regasification capacity additions between 2022 – 2026, contributing 26% of the total LNG liquefaction capacity additions, forecasts GlobalData.
GlobalData’s latest report, ‘LNG Regasification Terminals 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 China is expected to add a new-build LNG liquefaction capacity of 3805 billion ft3 by 2026, while expansion projects account for the remaining 2963 billion ft3.
Himani Pant Pandey, Oil & Gas Analyst at GlobalData, comments: “In China, 27 new build and expansion projects are likely to start operations by 2026. Tangshan II is the largest upcoming project in the country with a capacity of 584.4 billion ft3 by 2026. Yantai I and Zhoushan III are the other major projects with capacities of 487.0 billion ft3 and 340.9 billion ft3, respectively.”
GlobalData identifies India as the second-highest contributor to the global LNG regasification capacity additions, with new-build LNG regasification capacity additions of 2323 billion ft3 by 2026. Expansion projects account for the remaining the capacity additions, with 1363 billion ft3 by 2026. The ‘Kakinada GBS Floating’ and ‘Yanam’ projects lead the LNG regasification capacity additions in the country, with capacities of 350.4 billion ft3 and 267.9 billion ft3, respectively.
The Philippines is expected to account for the third-largest LNG regasification capacity additions globally by 2026, with 1820 billion ft3, of which new-build capacity additions account for 1060 billion ft3 and expansion capacity additions account for the remaining billion ft3. Among the new build projects in the country, FGEN Batangas Floating is the largest upcoming project with a capacity of 273 billion ft3. It is expected to start operations in 2022.
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