North America is expected to hold on to its leadership position in terms of planned and announced liquefaction capacity growth, according to a report by GlobalData.
Titled ‘Semi-Annual Global Capacity and Capital Expenditure Outlook for LNG Liquefaction Terminals – New Capacity Additions Gain Momentum’, the report discusses global liquefied natural gas (LNG) liquefaction capacity additions and capital expenditure (capex) outlook during the 2018 to 2022 period.
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Globally, LNG liquefaction capacity is poised to increase by 117% between 2018 and 2022. From 419 million tonnes per annum (mtpa) this year, the capacity is set to grow to 907mtpa by 2022.
North America contributes 82% of the total global planned and announced liquefaction capacity growth. The region is projected to create an additional liquefaction capacity of 400mtpa by 2022. Africa and Oceania have projected capacity additions of 37mtpa and 26mtpa, respectively.
Since the previous GlobalData report was published in July last year, a total of eight new LNG liquefaction terminals were announced globally, while three terminals were stopped and eight were scrapped.
The US has estimated liquefaction capacity additions of 259mtpa by 2022, followed by Canada and Australia with 125mtpa and 24mtpa, respectively.
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By GlobalDataNorth America has a proposed capex of $310bn during the outlook period, while Africa is expected to have capex of $58bn and Oceania will have $51bn.
The US, Canada and Russia are the three top countries in terms of capex, with $163bn, $133bn and $41bn, respectively.
Meanwhile, the report stated that Venture Global Partners, Sempra Energy and Orca LNG have the most planned and announced LNG liquefaction capacity additions among global firms between now and 2021, with capacities of 30mtpa, 24.2mtpa, and 24mtpa, respectively.
