The US currently tops the list on the global liquefied natural gas market, GlobalData’s latest report has revealed.
The report titled, “H1 2019 Global Capacity and Capital Expenditure Outlook for LNG Liquefaction Terminals – US Continues to Dominate Global Liquefaction Market with Staggering Capacity” indicates an increase in global liquefied natural gas.
The growth rate is expected to reach 76% during the outlook period (2019–2023). And will soar from 450 million tonnes per annum (mtpa) in 2019 to 791mtpa in 2023 from active, planned and announced projects.
North America tops the list among regions as contributing about 72% of the total global capacity in 2023 and is expected to have a capacity of around 265mtpa in 2023 according to Offshore Technology.
The Middle East and the Former Soviet Union (FSU) follow with capacities of 36mtpa and 33mtpa, respectively.
In the same vein, the US leads globally with 215mtpa of liquefaction capacity in 2023. Canada and Russia follow, with capacities of 34mtpa and 33mtpa, respectively.
On new-build capital expenditure (capex) outlook for planned and announced liquefaction projects during the outlook period (2019–2023), North America again leads followed by the FSU and the Middle East.
In the category of countries, Qatar Petroleum, Sempra Energy and NextDecade Corp have the highest LNG liquefaction capacities globally from planned and announced projects during the outlook period with capacities of 32mtpa, 28mtpa, and 27mtpa, respectively, in 2023.
Among terminals, Qatar LNG terminal has the highest LNG liquefaction capacity globally by 2023 with 32mtpa, followed by Rio Grande and Cameron II with 27mtpa and 25 tpa, respectively.