Asia is poised to dominate global liquefied natural gas (LNG) regasification capacity additions, accounting for almost two-thirds of total regasification capacity additions by 2030. This growth is underpinned by several factors: economic growth, burgeoning population and escalating energy needs, which are expected to drive natural gas demand in the region. Within Asia, China, India and Vietnam are likely to add substantial capacity during the outlook period.
China is set to keep its lead in terms of the LNG regasification capacity additions in Asia, accounting for more than one-third of the region’s capacity additions by 2030. This aligns with China’s broader energy strategy to increase the natural gas share in its energy mix to reduce air pollution and carbon emissions. Key upcoming regasification terminals, such as Zhoushan III, Zhoushan II and Yantai II are expected to be instrumental in driving regasification capacity additions by 2030.
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The Zhoushan III terminal is at the forefront of the Chinese regasification capacity additions with 731 billion cubic feet (bcf) of capacity likely to be added during the outlook period. China Petroleum & Chemical Corp is the proposed operator, while China Petrochemical Corp is a major stakeholder with a 50% share. The project is currently at the feasibility stage and is likely to begin operations in 2028 with a capacity of 341bcf, which is likely to increase to 731bcf by 2030.
India is also expected to add considerable regasification capacity additions in Asia, with more than 4,000bcf of capacity expected by 2030. The Jafrabad floating regasification terminal is poised to lead the capacity additions in the country during the outlook period. Atlantic, Gulf and Pacific Company of Manila Inc is the terminal operator and Swan Energy Ltd (49%) and Nebula Energy LLC (40.8%) are the major equity holders of the project, which significantly boosts India’s natural gas imports and energy security.
Further details of global LNG regasification capacity and capital expenditure analysis can be found in GlobalData’s new report: LNG Regasification Industry by Capacity and Capital Expenditure with Details of All Operating and Upcoming Terminals to 2030.
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