LNG Regasification by Country 2022

January 11, 2024

As of April 2023, global regasification capacity grew by 25 mtpa to 970 mtpa across 48 markets, up from 39 countries just a few years ago. Germany has committed to building 5 new import terminals to end their reliance on Russian pipeline gas. The first terminal, a Floating Storage & Regasification Unit (FSRU) in the north, opened in Dec. 2022 and took under 10 months to construct. Japan has the largest regasification capacity at 218 mtpa (28 Bcf/d), followed by South Korea at 140 mtpa (18 Bcf/d) and China at 100 mtpa (13 Bcf/d). Combined, these 3 countries account for almost half of global regasification capacity. Utilization rates for global regasification facilities in 2022 was about 40%. European regasification utilization jumped to 65%, up from 40% in 2021.

As of April 2023, 220 mtpa of new regasification capacity is under construction worldwide, including 26 new onshore terminals, 16 new floating-based terminals and 17 expansion projects.