GlobalData’s latest report, ‘Global Capacity and Capital Expenditure Outlook for Liquids Storage Terminals, 2022-2026’, indicates that global liquids storage capacity is expected to grow by 12% during the outlook period 2022-2026, from 9,163 million barrels (mmbbl) in 2021 to 10,269mmbbl by 2026.
Among regions, Asia leads global liquids storage capacity additions from newbuild and expansion projects, contributing about 61% of the total global total additions. The region is expected to add 678mmbbl storage capacity during 2022-2026. The Middle East and North America follow, with capacity additions of 181mmbbl and 110mmbbl, respectively.
Among countries, China leads the global liquids storage capacity additions from newbuild and expansion projects with 359mmbbl of liquids storage capacity by 2026, followed by India and the US.
Among planned and announced liquids storage terminals expected to start operations by 2026, Zhanjiang IV in China and Selayar in Indonesia lead globally, with the highest liquids storage capacity of 44.03mmbbl and 43.97mmbbl, respectively. Fujairah XVIII in the United Arab Emirates is third, with a capacity of 42mmbbl.
