China set to generate highest LNG capacity in Asia through 2027

The overall LNG regasification capacity has increased to 7,662 billion cubic feet.

China is projected to boost the highest liquefied natural gas (LNG) regasification capacity additions in the Asian market from 2023 to 2027, a report said.

In a forecast by analytics company GlobalData, China’s LNG input will increase to 7,662 billion cubic feet (bcf) – 35% of Asia’s total capacity editions by 2027 – through new build and expansion projects during its outlook.

The upcoming Zhoushan II terminal is projected to be the largest contributor to overall LNG regasification capacity additions in China, with operations commencing in 2025 under a 292 bcf capacity. The facility is estimated to increase to 584 bcf by 2025.

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Yantai I is the second largest terminal in China in addition to LNG regasification capacity. Partnering operators Yantai LNG Group POLY GCL Petroleum Investment Ltd have a 100% stake in the project, with operations to start in 2024 through a capacity of 287 bcf and an increase to 487 bcf by 2027.

“China is rapidly expanding its regasification capacity to meet its ever-growing demand of natural gas in the country. The capacity additions will also help it to replace coal with gas for power generation and meet its carbon neutral objectives,” Himani Pant Pandey, Oil & Gas Analyst at GlobalData, weighed in.