According to data and analytics company GlobalData, Germany is expected to drive capacity growth in Europe’s liquified natural gas (LNG) regasification industry from its planned and announced projects between 2019 to 2023.
Germany’s planned and announced projects will contribute to approximately 31% of Europe’s total growth. The report by GlobalData also revealed that Germany is expected to have new-build regasification capacity of 635 billion cubic feet (BCF) by 2023.
“Wilhelmshaven Floating and Brunsbuttel are the two upcoming announced regasification terminals in Germany during the 2019 to 2023 period,” said Dipayan Chakraborty, Oil & Gas Analyst at GlobalData.
“Both the terminals are expected to start their operations in 22, with the Wilhelmshaven Floating terminal expected to add the highest regasification capacity of 353bcf by 2023.”
GlobalData also identified Spain as the second highest country in terms of regasification capacity growth in Europe, adding the new-build regasification capacity to 339bcf by 2023.
“Croatia has no active regasification terminals currently. The country is expected to add all of its new-build capacity growth from two planned regasification terminals, Croatia Floating and Hrvatska by 2023,” Chakraborty concluded.
Europe has great decarbonisation potential with renewable gases and hydrogen. But unless strong regulatory measures are put in place, these won’t have sufficient access to the market, thereby putting the EU’s decarbonisation objectives at risk.
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