North America is to drive capacity growth in the global LNG liquefaction industry from planned and announced projects between 2019 and 2023.
This will contribute around 73% of global growth by 2023, according to GlobalData, in a report entitled ‘Global LNG Liquefaction Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Liquefaction Terminals’.
The report reveals that North America is expected to have a newbuild liquefaction capacity of 243 mill tonnes per annum by 2023. Already announced projects account for most of the newbuild capacity in the region.
Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, said: “North America is expected to add 26 newbuild LNG liquefaction terminals during the outlook period. Among these, Rio Grande is the largest newbuild liquefaction terminal, which is expected to start operations in 2023 with a capacity of 27 mill tonnes per annum.”
Following North America, GlobalData said that the Middle East was the second highest region in terms of global LNG liquefaction capacity growth.
This region will add newbuild liquefaction capacity of 32 mill tonnes per annum by 2023. Qatar’s LNG terminal expansion project was the only announced terminal in the Middle East and thus accounted for entire capacity growth by 2023.
The Former Soviet Union (FSU) stands third with newbuild LNG liquefaction capacity of 29 mill tonnes per annum during the period under review. Russia accounts for all the capacity growth in this region with four projects, the report said.