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September 11, 2020

The US and China to lead with the highest upcoming LNG liquefaction and regasification capacities globally by 2024

By GlobalData Energy

GlobalData’s latest report, Global Planned LNG Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Planned Regasification Terminals’ says that the global newbuild (planned and announced) liquefaction capacity is expected to increase to 190.2 million tonnes per annum (mtpa) while the regasification capacity to 13,679.0 billion cubic feet (bcf).

Globally, among regions, in terms of upcoming liquefied natural gas (LNG) liquefaction capacity growth by 2024, North America, the former Soviet Union and Africa are the key players with anticipated capacities of 134.3 mtpa, 32.7 mtpa and 21.8 mtpa respectively. For LNG regasification capacity growth by 2024, Asia, the Middle East and Europe would have the highest LNG regasification capacities of 9,388.5 bcf, 1,447.4 bcf and 1,210.7 bcf respectively.

The US, Russia and Mozambique are the major countries globally with the highest planned and announced LNG liquefaction capacities of 122.6 mtpa, 32.7 mtpa and 16.3 mtpa respectively by 2024, while China, India and Pakistan are the key countries in terms of highest planned and announced LNG regasification capacity by 2024 with 3,484.3 bcf, 1,950.9 bcf and 1,478.3 bcf respectively.

LNG Industry, Global, Planned and Announced Liquefaction Capacity (mtpa) by Key Countries, 2020–2024

By 2024, the Plaquemines liquefaction terminal (20.0 mtpa) in the US leads among the planned and announced LNG liquefaction terminals globally in terms of capacity, while Al-Zour in Kuwait (1,155.4 bcf) leads among the regasification terminals.

Globally, 90 newbuild (planned and announced) liquefaction and regasification terminals are expected to start operations between 2020 and 2024. Of these, 25 are liquefaction terminals and 65 are regasification terminals. While most of the liquefaction terminals are planned in North America, the majority of regasification terminals are planned in Asia.

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