January 11, 2024

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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.