LONDON--(BUSINESS WIRE)--An LNG liquefaction capacity of 187.4 million metric tons per annum (MMtpa) is expected to be added globally by 2016, according to a new report on companiesandmarkets.com. The increase in LNG liquefaction capacity is attributed to major planned LNG terminals in Australia, Papua New Guinea, Iran, Angola, Russia and the US.
Planned LNG Terminals Market - Global Analysis, Competitive Landscape and Capacity Forecasts to 2016
Australia will witness the highest addition in LNG liquefaction capacity globally during 2011-2016 through the planned commencement of its 14 LNG liquefaction terminals over this period. Australia plans to add LNG liquefaction capacity of 84 MMtpa by 2016.
A number of new gas suppliers such as Angola, Canada, Iran, Papua New Guinea and Venezuela will foray into LNG markets with the planned start of their LNG liquefaction terminals. These countries will add a LNG liquefaction capacity of 43.2 MMtpa by 2016, representing a share of 23% in the global planned LNG capacity by 2016.
The US transition from a net importer of LNG to a net exporter looks inevitable with the recent increase in shale gas production. In 2009, the US overtook Russia to become the largest natural gas producer, globally. Shale gas production in the US rose from 3.5bcf/day to 8.5bcf/day in 2009 and will increase through 2016. The total planned LNG liquefaction capacity of the US will reach 17.5 MMtpa by 2016.
LNG imports to Europe increased from 53.34bcm in 2007 to 69.02bcm in 2009. LNG imports to Europe have increased following LNG regasification development by countries such as Italy and the UK.
India and China will account for an increase of 14.6% and 56.4% in the global and Asia-Pacific's planned LNG regasification capacity through 2016, respectively. Other South Asian countries such as Indonesia, Singapore, Bangladesh, Vietnam and Thailand are planning to set up LNG regasification terminals to import LNG.