GlobalData: China to lead Asia’s LNG regasification capacity additions

China is expected to lead Asia’s LNG regasification capacity additions, contributing 36% of the total LNG regasification capacity additions between 2021 and 2025, forecasts GlobalData.

GlobalData’s report, ‘Asia Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2021 - 2025 – China Dominates LNG Regasification Capacity Additions and CAPEX Spending in Asia’, reveals that China is expected to add new-build LNG regasification capacity additions of 4380 billion ft³ by 2025, while the expansion projects account for the rest with 1576 billion ft³.

Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments: “Among the new-build and expansion projects that are likely to start operations in China during the forecast period, Tangshan II is the largest upcoming project with a capacity of 584.4 billion ft³. Yantai I and Zhoushan III are the other major projects with capacities of 487 billion ft³ and 340.9 billion ft³, respectively.”

GlobalData identifies India to be the second-highest contributor to the global LNG regasification capacity additions with new-build LNG regasification capacity additions of 3062 billion ft³ by 2025. Expansion projects account for the rest of the capacity additions with 365 billion ft³by 2025. Kakinada GBS Floating leads LNG regasification capacity additions in the country with a capacity of 350.6 billion ft³ by 2025.

Pakistan is expected to be the third largest contributor to the LNG regasification capacity additions in India with 1752 billion ft³. Of these, new-build capacity additions account for 1697 billion ft³. Among the new-build projects in the country, Port Qasim is the largest upcoming project with a capacity of 438 billion ft³ and is expected to start operations in 2023.