North America will be the major contributor to the growth of global liquefied natural gas (LNG) liquefaction capacity between 2019 and 2023, accounting for around 72% of the total global capacity from planned and announced projects, according to GlobalData, a leading data and analytics company.
The company’s report: ‘H1 2019 Global Capacity and Capital Expenditure Outlook for LNG Liquefaction Terminals – US Continues to Dominate Global Liquefaction Market with Staggering Capacity Additions’ reveals that around 366 million tonnes per annum (mtpa) of LNG liquefaction capacity is expected to be added during the outlook period (2019–2023), from planned and announced projects globally.
The U.S. plans to add the highest total capacity of roughly 215 mtpa by 2023 from planned and announced LNG liquefaction terminals. Canada follows with a LNG liquefaction capacity addition of around 34 mtpa. In addition, the U.S. and Canada are also top new-build capex spenders globally on planned and announced LNG liquefaction projects; for the period 2019–2023.
Ashwin Gupta, Oil & Gas Analyst at GlobalData, comments: “The two North American countries, the U.S. and Canada, will drive the global liquefaction capacity additions due to booming shale gas production. The U.S., in particular, is adding staggering liquefaction capacity additions, disrupting the global LNG supply chain.”
The second highest in terms of LNG liquefaction capacity additions is the Middle East. The region is expected to add approximately 36 mtpa in 2023 from planned and announced projects. In the Middle East, Qatar plans to add around 32 mtpa of LNG liquefaction capacity in 2023.
The Former Soviet Union (FSU) stands third globally, with liquefaction capacity of 33 mtpa in 2023. In FSU, Russia accounts for all the capacity additions from planned and announced projects.
Among terminals, Qatar LNG terminal has the highest LNG liquefaction capacity globally by 2023 with 32 mtpa, followed by Rio Grande and Cameron II with 27 mtpa and 25 mtpa, respectively.
4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial and professional services sectors.
Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.
Subscribe to OILMAN Today, our industry newsletter covering oil and gas business news, events, information and trends shaping the market, delivered to your inbox.