India is expected to lead with 18% capacity share in the global LNG regasification industry from new-build projects between 2019 and 2023, according to GlobalData, a leading data and analytics company.
The company’s report, ‘H2 2019 Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals – India Continues to Dominate Global Regasification Capacity Additions and Capex Spending’, reveals that India has the highest LNG regasification capacity additions of 2.7 trillion cubic feet (tcf) globally by 2023 from 17 planned and announced new-build regasification terminals.
Of the total new-build capacity, 2.2 tcf will come from planned projects that have received required approvals for development, and the remaining 0.5 tcf will come from early-stage announced projects.
Adithya Rekha, Oil and Gas Analyst at GlobalData, explains: “Among the upcoming regasification terminals in India, Karwar Floating has the highest capacity of 365 billion cubic feet (bcf). This planned offshore terminal is expected to start operations in the Karnataka state by 2020.”