Global LNG capacity to more than double by 2019
Global LNG capacity would more than double from 341mn t/y in 2015 to 811mn t/y by 2019 based on proposed natural gas liquefaction projects, according to research and consulting firm GlobalData. The company’s latest report states that the scale of the North American project pipeline is unparalleled, totalling 32 individual liquefaction plants with over 287mn t/y of capacity through the end of the decade. Dramatic liquefaction capacity growth is also anticipated in Africa, Europe and Asia. Matthew Jurecky, GlobalData’s Head of Oil & Gas Research and Consulting, says this massive infrastructure build-out in the US is driven by unconventional gas in North America. Jurecky adds that the capital expenditure required to execute the planned global projects is estimated at approximately $700bn, almost half of which is allocated to projects in North America. The analyst also states that global LNG regasification capacity is expected to grow by around 50%, from 41tn cf in 2015 to 60tn cf by 2019.
News Item details
Journal title: Petroleum Review
Countries: Worldwide -
Organisation: GlobalData
Subjects: Liquefied natural gas
