Report: Global LNG liquefaction capacity projected to more than double by 2021

The global LNG liquefaction capacity is expected to increase by 125% during 2017-2021, according to a report by GlobalData.

Titled ‘H1 2017 Global Capacity and Capital Expenditure Outlook for LNG Terminals – North America to Disrupt Global LNG Supply with Record Liquefaction Capacity Growth’, the report forecasts the global regasification capacity to witness a growth of approximately 41% during the forecast period.

North America is expected to lead in terms of the planned liquefaction capacity growth by adding approximately 80% of the total global capacity growth. By 2021, the region is projected to add 373.8 million tonnes per annum (mtpa) of liquefaction capacity, followed by Former Soviet Union with 48mtpa and Oceania with 31mtpa.

Asia and Europe are projected to lead the global regasification capacity growth, adding 11.4 trillion cubic feet (tcf) and 2.9tcf of planned capacity respectively, followed by the Middle East with 1.7tcf.

In terms of capital expenditure (capex), North America is projected to lead globally with a proposed capital expenditure of $349bn on planned LNG liquefaction projects, followed by Former Soviet Union and Africa with capex of $55.6bn and $50bn respectively.

Asia is projected to lead in terms of capex on planned regasification projects with $37bn, followed by Europe with $10.8bn.

In terms of countries, the US is projected to lead with 229mtpa of planned liquefaction capacity addition by 2021, followed by Canada and Russia with 145mtpa and 48mtpa respectively. India and China are expected to lead in terms of planned LNG regasification capacity additions, with 4.4tcf and 2.2tcf respectively.

Gazprom is projected to have the highest proposed capex of $32.4bn on planned liquefaction projects among companies, followed by Shell with $22.9bn.

In terms of capex on planned regasification projects, CNOOC, Kuwait Petroleum, and PT Pertamina are projected to lead with $4bn, $3.3bn, and $2.5bn, respectively.

Nine new LNG liquefaction terminals have been announced, two have been stalled, and two were cancelled, compared to the previous report published in October 2016. The number of new LNG regasification terminals announced since the previous report are 15, with five being stalled and two cancelled.