Asia is projected to lead the worldwide LNG regasification projects startups from 2022 to 2026.
India is anticipated to be one of the prime countries to drive Asia’s LNG regasification projects count by 2026, contributing around 21% of projects startups, according to data and analytics company, GlobalData.
GlobalData’s latest report, ‘LNG New-Build and Expansion Projects Analytics and Forecast by Project Type, Sector, Countries, Development Stage, Capacity and Cost, 2022-2026’, revealed that India leads the Asian region with 20 LNG regasification projects totalling 3.4 trill cu ft capacity due between 2022 and 2026.
In India, about 40% of the upcoming regasification projects are likely to be in the approval stage and expected to start operations between those dates. Feasibility and construction follow with 35% and 20%, respectively.
Sudarshini Ennelli, GlobalData Oil and Gas Analyst, commented: “In India, 16 upcoming regasification would be newbuild projects while the rest are expansion projects. Growing demand from both industrial sectors and Indian government’s plans to increase gas share in energy mix to reduce emissions are driving the natural gas demand in India.”
Kakinada GBS Floating is the largest planned regasification project in India of 351 bill cu ft capacity. It is expected to be operational by 2024. To be managed by Crown LNG, the project will primarily serve industrial consumers, such as power and fertiliser plants in and around Andhra Pradesh state.
Yanam is another major Indian regasification project with a capacity of 268 bill cu ft. Hindustan LNG is the operator of this project, which is currently awaiting approval and is expected to start operations by 2026. This facility also aims to supply natural gas power plants in Andhra Pradesh.