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ME seen second highest in regasification capacity

LONDON, August 20, 2019

The Middle East is expected to have the second highest LNG regasification capacity globally at 2.3 trillion cu ft (tcf) by 2023, said GlobalData, a leading data and analytics company.

Of this capacity growth, 1.4 tcf is expected to come from planned projects while 0.8 tcf capacity will be added by early-stage announced projects, said GlobalData’s report ‘Global LNG Regasification Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Regasification Terminals’.

“In the Middle East, two planned regasification terminals, Al-Zour in Kuwait and Bahrain Floating in Bahrain, are expected to start operations by 2023. The Al-Zour terminal is the largest planned regasification project globally with a capacity of 1.2 tcf,” said Soorya Tejomoortula, oil and gas analyst at GlobalData.

Asia is expected to lead the global LNG regasification industry capacity growth from new-build (planned and announced) projects between 2019 and 2023 with 63 per cent share.

According to the report, the total regasification capacity of planned and announced terminals in Asia is expected to be 11.6 trillion cubic feet (tcf) by 2023. Of this capacity growth, 8.2 tcf will come from early-stage announced projects and the remaining 3.4 tcf will come from planned projects that have received required approvals for development.

“In Asia, a total of 62 planned and announced terminals are expected to start operations by 2023. Of these, two announced terminals, Matarbari in Bangladesh and Yanam in India, have the highest capacities of 548 bcf and 536 bcf, respectively,” Tejomoortula concluded. – TradeArabia News Service


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