The photo is sourced from energyeducation.ca
The countries of the Asian-Pacific Region (APR) will be the leaders from the standpoint of the pace of terminals construction, they will account for 52% of the newly commissioned capacities in 2023–2024. The share of the European countries will make 38%, and the share of all the other regions of the world – 10%. China and India will hold the first two positions among the APR countries, where in 2023–2024 terminals for 238 mcmd and 36 mcmd will be built respectively. In Europe, Germany will be the leader of developing the “receiving” infrastructure, where the off-shore floating LNG re-gas unit was commissioned this year, and several terminals are at different stages of implementation. Finally, Brazil will be the driver of this segment in South America planning to launch 50 mcmd capacities.
The development of the “receiving” infrastructure will facilitate the consumers’ access to gas during the season of the peak demand. According to EIA, the average annual capacity utilisation rate of the re-gas terminals in 2022 made only 37%. However, in the winter and in the summer, i.e., the seasons of high demand for heating and air conditioning services, this metric in a number of several regions and countries exceeds 50%. The new terminals will improve the “safety margin” for the countries importing LNG and will expand the geography of supplies: Germany, Philippines and Vietnam started importing liquified natural gas this year, and next year Antigua, Australia, Cyprus and Nicaragua will be added to the list of LNG importers, as they are also building several new terminals.
The construction of new re-gas facilities will contribute to gas-fired power generation. The share of gas in the global power generation mix grew from 17.9% in 2000 up to 22.5% in 2022. Most likely, this share will continue to grow thanks to the LNG importing countries, which are ramping up the use of gas in power generation: according to Global Energy Monitor, by August 2023, the cumulative gas-fired CHPPs’ capacity globally constituted 206.8 GW, and China and India accounted for 51.7 GW of the total capacity.