According to GlobalData, Australia and India will be the significant contributors for capacity growth in Asia and Oceania’s LNG Industry for the outlook period 2018 to 2022.
Australia is set to have the highest liquefaction capacity additions while India will have highest regasification capacity additions among all the countries in Asia and Oceania, said the data and analytics company.
GlobalData’s report ‘LNG Industry Outlook in Asia and Oceania to 2022’ forecasts total liquefaction capacity in Asia and Oceania to grow by 11% from 166.4 million tons per annum (mtpa) in 2018 to 184.7 mtpa by 2022. Similarly, the total regasification capacity is expected to grow by 43% from 24.7 trillion cubic feet (tcf) in 2018 to 35.3 tcf in 2022. Eight LNG liquefaction terminals and 67 regasification terminals are expected to commence operations in the regions by 2022.
Australia will lead Asia and Oceania both in terms of liquefaction capacity additions and capex. The country will have the highest liquefaction capacity additions of 11.5 mtpa, increasing from 87.8 mtpa in 2018 to 99.3 mtpa by 2022. The country is expected to spend $43.7bn or 65% of the region’s total capex on new build liquefaction terminals during the outlook period.
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