Global LNG regasification capacity is expected to grow by 43% during the period 2019–2023, from 45.7 trillion cubic feet (tcf) this year to 65.9 tcf by 2023, according to a report by GlobalData.
Kuwait Petroleum Corp, China National Offshore Oil Corporation and Shandong Hanas New Energy Co Ltd have the highest planned and announced LNG regasification capacity additions globally by 2023, with capacities of 1,155 billion cubic feet (bcf), 738 bcf, and 731 bcf, respectively, the report found.
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Planned and announced LNG regasification capacity additions by key companies, 2019–2023
Source: Upstream Analytics, GlobalData Oil and Gas
In terms of capital expenditure (Capex), China National Offshore Oil Corporation has the highest new-build Capex of $4.7 billion to be spent on new-build regasification projects in the period. Shandong Hanas New Energy Co Ltd and Kuwait Petroleum Corp follow with $2.9 billion and $2.7 billion, respectively.
Among terminals, Al-Zour in Kuwait continues to lead with the highest LNG regasification capacity additions as well as the new-build Capex globally during the outlook period.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataKuwait Petroleum Corporation, Kuwait’s national oil company, has 100% equity stake in the terminal, which is expected to start operation in 2021. The terminal has a capacity of 1.2 tcf, and a total new-build Capex of $3.6 billion. Kuwait Integrated Petroleum Industries Co is the operator of the terminal.
