Asia and the lead in regasification
Asia will dominate global LNG regasification capacity additions through 2028, contributing about 68% of the total capacity growth, according to GlobalData
Asia plays a leading role in battery cells and even LNG regasification, for those who don’t know. According to a report by GlobalData,Asia is poised to maintain its lead in the global liquefied natural gas (LNG) regasification capacity additions, accounting for approximately 68% of the total capacity growth between 2024 and 2028. The report, titled “LNG Regasification Industry by Capacity and Capital Expenditure with Details of All Operating and Upcoming Terminals to 2028,” highlights that Asia is projected to add 20.0 trillion cubic feet (tcf) of regasification capacity through new construction and expansion projects over the five-year period from 2024 to 2028.
GlobalData explains Asia’s future leadership in regasification
China is set to lead the LNG regasification capacity additions in Asia through 2028, contributing nearly 38% of the region’s growth. The largest upcoming project in China is Zhoushan II, with a capacity of 584 billion cubic feet (bcf). Other significant projects include Huizhou, Yantai I, and Yantai II, each with a capacity of 487 bcf. Following China, India is identified as the second highest contributor to Asia’s LNG regasification capacity additions, accounting for about 21% by 2028. The Jaigarh Port in Maharashtra will be India’s largest upcoming LNG regasification terminal, with a capacity of 390 bcf. This terminal is expected to commence operations in 2025, with H-Energy as the designated operator.
A comment by Bhargavi Gandham
Bhargavi Gandham, Oil & Gas Analyst at GlobalData, comments: “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. 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. Vietnam ranks third in Asia, contributing about 10% of the region’s LNG regasification capacity additions during the outlook period. With a capacity of 487 bcf, Vung Tau in the Ba Ria Vung Tau constituency is the largest upcoming regasification terminal in the country and is expected to commence operations in 2028.”
