The US is expected to contribute 57% of total LNG liquefaction capacity additions between 2022 and 2026.
That’s according to data and analytics company GlobalData, which predicts that the US will add a new build LNG liquefaction capacity of 220.3 million tonnes per annum (mtpa) by 2026.
GlobalData’s predictions follow a number of countries looking to cut reliance of Russian gas, following the country’s invasion of Ukraine. With this, it is expected countries, such as the US, will see increased demand for LNG and other fuels alike.
Himani Pant Pandey, Oil and Gas Analyst at GlobalData, said, “LNG developers in the US are incentivised by ever-growing demand for natural gas worldwide, especially in the Asian and European regions.”
“The plans of several European countries and Japan to reduce their dependency on Russian gas post Ukraine invasion would further boost liquefaction developments in the US.”
In its analysis, GlobalData states that Plaquemines is one of the key LNG liquefaction projects currently in the US, with a capacity of 20 mtpa.
gasworld understands that Venture Global Partners has the entire equity in the project, while Venture Global LNG is the operator.
In addition to Plaquemines, Venture Global LNG is also planning to develop another project, dubbed CP2, with the sane 20 mtpa capacity, GlobalData reports.
The above was outlined in GlobalData’s latest report, titled LNG Liquefaction Terminals Capacity and Capital Expenditure (CapEx) Forecast by Region, Countries and Companies including details of New Build and Expansion (Announcements and Cancellations) Projects, 2022-2026‘Global Capacity and Capital Expenditure Outlook for LNG Liquefaction Terminals, 2022–2026’