China and US Lead LNG New-Build Capacity Growth

China and the US and are expected to lead the capacity growth in the global LNG liquefaction and regasification sectors from planned and announced (new-build) projects between 2020 and 2024, says GlobalData, a data and analytics company. GlobalData’s report,‘Global LNG Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Terminals’, reveals that China leads globally in terms of regasification capacity growth from planned and announced projects with 2.9 trillion ft3 of capacity expected to come online by 2024.

Adithya Rekha, Oil & Gas Analyst at GlobalData, explains: “Out of the 2.9 trillion ft3 of regasification capacity expected to come online in China, planned projects that have received the required approvals for development account for 2.2 trillion ft3 while the remaining 0.7 trillion ft3 could come from early-stage announced projects that are yet to receive any approvals for development.” India and Pakistan follow China with regasification capacities of 2.1 trillion ft3 and 1.4 trillion ft3, respectively, by 2024…

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