North America to drive global LNG industry newbuild capacity growth

Rio Grande project artist rendering (Image courtesy of NextDecade)

North America will drive the global LNG industry with 73 percent of newbuild capacity growth by 2023, according to data analytics and consulting company GlobalData.

GlobalData said on Wednesday that North America was expected to drive capacity growth in the global LNG industry from planned and announced newbuild projects between 2019 and 2023, contributing around 73 percent of global growth by 2023.

The company said in its ‘Global LNG Liquefaction Industry Outlook to 2023’ report that North America was expected to have a newbuild liquefaction capacity of 243 mtpa by 2023. Announced projects account for most of the newbuild capacity in the region.

Soorya Tejomoortula, oil and gas analyst at GlobalData, stated: “North America is expected to add 26 newbuild LNG liquefaction terminals during the outlook period. Among these, Rio Grande is the largest newbuild liquefaction terminal, which is expected to start operations in 2023 with a capacity of 27 mtpa.”



Following North America, GlobalData identifies the Middle East as the second-highest region in terms of global LNG liquefaction capacity growth.

The region will add a newbuild liquefaction capacity of 32 mtpa by 2023. The Qatar LNG terminal in is the only announced terminal in the Middle East accounting for entire capacity growth by 2023.

Countries which were members of the former Soviet Union stand third with newbuild LNG liquefaction capacity of 29 mtpa by 2023. Russia accounts for all the capacity growth in the region with four projects.

Share this article

Follow LNG World News

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >