China is ready to register the best LNG regasification capability additions in Asia between 2022 and 2026, accounting for a share of roughly 34% of the area’s whole capability additions by 2026, says GlobalData.
GlobalData’s report, ‘LNG Trade (Liquefaction and Regasification) Capability and Capital Expenditure (CAPEX) Forecast by Area and Nations, All Energetic Vegetation, Deliberate and Introduced Initiatives, 2022-2026,’ reveals that China is prone to witness a complete LNG regasification capability addition of 6602 billion ft3 by 2026. Of this, 5123 billion ft3 of capability is predicted to come back from the brand new construct terminals, whereas the remaining capability shall be from the growth of the prevailing regasification terminals.
Himani Pant Pandey, Oil and Gasoline Analyst at GlobalData, commented: “The deliberate Tangshan II terminal would be the largest contributor to the LNG regasification capability additions in China. To be operated by the Caofeidian Xintian LNG, the terminal is predicted to start out operations in 2022 with a capability of 341 billion ft3, which is additional anticipated to extend to 584 billion ft3 by 2026.”
The second largest contributor among the many new construct initiatives is Yantai I, which is probably going so as to add a capability of 487 billion ft3 by 2026. The Yantai LNG Group is the operator of the deliberate regasification terminal.
Among the many growth initiatives, the Qingdao Enlargement II regasification terminal would be the largest contributor to the capability additions in China, with 341 billion ft3 of capability anticipated to be added by 2023.
Learn the article on-line at: https://www.lngindustry.com/regasification/04112022/globaldata-china-to-lead-lng-regasification-capacity-additions-in-asia-through-2026/