Kuwait Petroleum Corporation (KPC) is expected to account for 8% capacity share in the global liquefied natural gas (LNG) regasification industry from new-build (planned and announced) projects between 2019 and 2023, according to GlobalData, a leading data and analytics company.
The company’s report, ‘H2 2019 Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals – India Continues to Dominate Global Regasification Capacity Additions and Capex Spending’, reveals that Kuwait Petroleum Corp has the highest LNG regasification capacity additions globally among companies with 1.2 trillion cubic feet (tcf) by 2023.
Adithya Rekha, the Oil and Gas Analyst at GlobalData, pointed out that the entire regasification capacity additions of KPC comes from the proposed Al-Zour LNG regasification terminal in Kuwait. "This planned offshore terminal is expected to start operations in 2020 with a capacity of 1.2 tcf," she noted.
After Kuwait Petroleum, India's Hiranandani Group (H-Energy) is the second highest company globally in terms of regasification capacity additions by 2023.
The company is expected to add 717 billion cubic feet (bcf) of regasification capacity through five terminals by 2023.
Of this total capacity, 449 bcf is expected to come from three planned projects while 268 bcf comes from two early-stage announced projects, stated Rekha.
"Mitsubishi Corp closely follows Hiranandani Group with the third highest global regasification capacity additions of 709 bcf through three planned and announced regasification terminals by 2023," she added.
