New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
China to continue to spearhead global LNG capacity additions
29/6/2022
News
China is expected to lead global LNG regasification capacity additions between 2022–2026, contributing 26% of total new LNG liquefaction capacity, according to the latest analysis from GlobalData.
It is estimated the country will add 3,805bn cf of newbuild liquefaction capacity by 2026, with expansion projects accounting for the remaining 2,963bn cf. A total of 27 newbuild and expansion projects are likely to start operations in that period – Tangshan II being the largest, with a capacity of 584.4bn cf, while Yantai I and Zhoushan III are the other major projects, with capacities of 487bn cf and 340.9bn cf, respectively.
India is forecast to be the second-highest contributor to global LNG regasification capacity, with newbuild additions of 2,323bn cf by 2026. Expansion projects account for the remaining 1,363bn cf. The Kakinada GBS floating project and Yanam development lead the LNG regasification additions in the country, with capacities of 350.4bn cf and 267.9bn cf, respectively.
Meanwhile, the Philippines is expected to account for the third-largest capacity additions globally by 2026, with 1,820bn cf, of which newbuild will account for 1,060bn cf and expansion capacity the remainder. Among the newbuild projects in the country, the FGEN Batangas floating project is the largest, with a capacity of 273bn cf. It is expected to start operations in 2022.
