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GlobalData: FSU and Asia to spearhead global refinery coking unit capacity growth by 2024

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Hydrocarbon Engineering,


The Former Soviet Union (FSU) and Asia are expected to lead the global refinery coking unit capacity growth, contributing around 75% of the total global capacity growth by 2024. The two regions are likely to add in the region of 757 000 bpd of refinery coking capacity by the end of 2024, trumping Europe and the Middle East, which have no active additions, according to GlobalData.

GlobalData’s report, ‘Global Refinery Coking Units Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Coking Units’, reveals that the global refinery coking capacity is expected to increase by about 1.006 million bpd, from 9.664 million bpd in 2020 to around 10.670 million bpd by 2024. Of the total capacity additions, 845 000 bpd is expected to come from new build planned and announced projects, while the remaining 161 000 bpd is likely from expansions of active projects.

Haseeb Ahmed, Oil and Gas Analyst at GlobalData, comments: “FSU, the leading region in terms of refinery coking capacity additions by 2024, is likely to add 383 000 bpd by 2024 from new build and active expansion projects. In the region, Russia accounts for most of the capacity additions with a combined total of nearly 333 000 bpd by 2024, followed by Belarus contributing 32 000 bpd.”

GlobalData expects Asia to occupy second place in terms of coking capacity additions by 2024. The region is expected to contribute about 37% of the global coking capacity growth, with total capacity additions of 374 000 bpd by 2024. China accounts for most of the capacity additions with 351 000 bpd.

North America is likely to be the third-highest region globally, adding 143 000 bpd by 2024. The Middle East and Europe together contribute 83 000 bpd, accounting for nearly eight percent of the global coking capacity growth by 2024.

Read the article online at: https://www.hydrocarbonengineering.com/refining/24092020/globaldata-fsu-and-asia-to-spearhead-global-refinery-coking-unit-capacity-growth-by-2024/

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