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Wood Mackenzie, an international research consultancy, said today that the regasification capacity under construction around the world (converting LNG from liquefied natural gas LNG) will be increased this year to its highest level
in a decade.
WoodMac said the regasification capacity under construction could reach 144 million tonnes per year (mmtpa),
led by Chinese projects.
This includes 33 new terminals under construction with a total capacity of 92.
8 million mt/year, with a further 51 million tonnes to be added to existing
terminals.
China is the world's second-largest LNG importer after Japan, accounting for more than a third of new capacity, or 52.
6 million mt/year, including 10 new terminals
.
India is building 5 new terminals with a capacity of 20 million mt/year, while Europe is likely to add 13 million mt/year through expansion projects that will spread across the Netherlands, Poland, France, Greece and the UK
by 2025.
WoodMac said that while the coronavirus pandemic has hampered the progress of construction and could cause potential delays in new projects, seven new filling stations are expected to make final investment decisions (FIDs)
this year.
These include Cyprus LNG, China's Yantai LNG and Tianjin LNG, the latter of which announced FID
in the first half of 2020.
"We believe there are four other terminals that have a good chance of reaching FID before the end of the year: Alexandropoulos LNG in eastern Greece, LNG in Hong Kong, Vila do Conde terminal in Golar in northern Brazil and Puerto Sandino in Nicaragua," said
Giles Farrer, head of research at WoodMac.
Southeast Asia has also been a focus for gas development, said Otavio Veras, research analyst at Asia LNG, with Myanmar and Vietnam completing terminal construction in record time to avoid power shortages
.
Veras singled out Hai Linh Company's terminal in Vung Tau, Vietnam, and a small terminal in Thanlyin, Myanmar, which has been commissioned
this year.
Wood Mackenzie, an international research consultancy, said today that the regasification capacity under construction around the world (converting LNG from liquefied natural gas LNG) will be increased this year to its highest level
in a decade.
WoodMac said the regasification capacity under construction could reach 144 million tonnes per year (mmtpa),
led by Chinese projects.
This includes 33 new terminals under construction with a total capacity of 92.
8 million mt/year, with a further 51 million tonnes to be added to existing
terminals.
China is the world's second-largest LNG importer after Japan, accounting for more than a third of new capacity, or 52.
6 million mt/year, including 10 new terminals
.
India is building 5 new terminals with a capacity of 20 million mt/year, while Europe is likely to add 13 million mt/year through expansion projects that will spread across the Netherlands, Poland, France, Greece and the UK
by 2025.
WoodMac said that while the coronavirus pandemic has hampered the progress of construction and could cause potential delays in new projects, seven new filling stations are expected to make final investment decisions (FIDs)
this year.
These include Cyprus LNG, China's Yantai LNG and Tianjin LNG, the latter of which announced FID
in the first half of 2020.
"We believe there are four other terminals that have a good chance of reaching FID before the end of the year: Alexandropoulos LNG in eastern Greece, LNG in Hong Kong, Vila do Conde terminal in Golar in northern Brazil and Puerto Sandino in Nicaragua," said
Giles Farrer, head of research at WoodMac.
Southeast Asia has also been a focus for gas development, said Otavio Veras, research analyst at Asia LNG, with Myanmar and Vietnam completing terminal construction in record time to avoid power shortages
.
Veras singled out Hai Linh Company's terminal in Vung Tau, Vietnam, and a small terminal in Thanlyin, Myanmar, which has been commissioned
this year.
