Asia dominating global LNG regasification capacity additions to 2028

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Asia will continue to dominate global liquefied natural gas (LNG) regasification capacity additions for the next few years, contributing around 68% of the total capacity additions between 2024 and 2028, said analytics provider GlobalData.

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Asia is expected to add total regasification capacity of 20 trillion cubic feet from new build and expansion projects during the period, according to the latest report from GlobalData, Offshore Technology’s parent company.

Bhargavi Gandham, oil & gas analyst at GlobalData, said: “China and India will primarily drive the LNG regasification additions in Asia through 2028, accounting for nearly 60% of the total capacity additions by 2028.”

Meanwhile, growing demand for gas from “industrial and domestic sectors, and the need to increase the share of gas in the energy mix, are driving regasification capacity additions in these countries”.

The report, entitled LNG Regasification Industry by Capacity and Capital Expenditure with Details of All Operating and Upcoming Terminals to 2028, also states that China will dominate LNG regasification additions in Asia through 2028, accounting for nearly 38%.