US leads global oil storage capacity

Analysis of the global liquids storage market shows that the US has the highest liquids storage capacity globally, with 2,162mn barrels, according to market analyst GlobalData. Indonesia and China follow, with 2,014mn barrels and 660mn barrels respectively.

At present, the US accounts for 26% of total global liquids storage capacity, with 1,675 active liquids storage terminals. It is expected to add some 46mn barrels of capacity from 21 planned and announced storage terminals during 2018–2021.

Indonesia accounts for a 24% share of global liquids storage capacity in 2018, with 176 active liquids storage terminals. The country is forecast to add a further 54mn barrels from four planned and announced terminals during the period 2018 to 2021. Meanwhile, China accounts for about an 8% share, with 118 active liquids storage terminals. A total of 10 planned and announced terminals in China are expected to add a further 66mn barrels of liquids storage capacity during 2018–2021. (See Figure 1.)

Japan has 354mn barrels of liquids storage capacity, about 4% of the global total in 2018. It has 72 active liquid storage terminals and no plans for new projects to be commissioned over the period 2018 to 2021. South Korea has 231mn barrels of capacity in 2018, accounting for about 3% of the global total. It has 36 active liquid storage terminals and is to add a further 12mn barrels from two planned and announced terminals over 2018–2021.

The Netherlands accounts for 3% of global liquids storage, with 218mn barrels, in 2018, while India, the UK, United Arab Emirates (UAE) and Spain account for 7%, with 537mn barrels of capacity. India and UAE are expected to collectively add some 34mn barrels of capacity from 12 planned and announced terminals during the period 2018–2021.