North America to lead LNG liquefaction growth to 2023
North America will be the major contributor to the growth of LNG liquefaction capacity between 2019 and 2023, accounting for about 72% of the total global capacity from planned and announced projects, according to GlobalData.
A recently published report from the analyst shows that around 366mn t/y of LNG liquefaction capacity is expected to be added during the period 2019–2023, from planned and announced projects globally.
The US plans to add the highest total capacity of roughly 215mn t/y by 2023 from planned and announced LNG liquefaction terminals, followed by Canada with about34mnt /y. In addition, the US and Canada are also the top newbuild capital expenditure (capex) spenders globally on planned and announced LNG liquefaction projects in the study period.
Ashwin Gupta, Oil & Gas Analyst at GlobalData, comments: ‘The two North American countries, the US and Canada, will drive the global liquefaction capacity additions due to booming shale gas production. The US in particular is adding staggering liquefaction capacity additions, disrupting the global LNG supply chain.’
The Middle East is second highest in terms of LNG liquefaction capacity additions, and is expected to add approximately 36mn t/y in 2023 from planned and announced projects, of which Qatar will account for 32mn t/y.
The Former Soviet Union (FSU) stands third globally, with liquefaction capacity of 33mn t/y in 2023. Russia accounts for all the capacity additions in the FSU.
Looking at specific terminals, Qatar LNG terminal will have the highest LNG liquefaction capacity globally by 2023, with 32mn t/y, followed by Rio Grande and Cameron II with 27mn t/y and 25mn t/y, respectively.
Figure 1: Global planned and announced LNG liquefaction capacity additions (in mn t/y) in 2023