As of 2015, there were 33 LNG importing and 17 exporting countries, globally. Total global regasification capacity of LNG reached around 777 million tpy in 2015, and around 71.92 million tpy of regasification capacity was under construction in the same year. Europe and the Middle East and Africa are expected to witness maximum regasification capacity additions during the 2016 - 2025 period. An increasing number of projects related to the power, city gas distribution and petrochemical sectors are anticipated to come up over the next 5 - 10 years across the globe, which is expected to positively influence the global LNG market through 2025.
"Growing demand for LNG and [the] opening of [a] wider Panama Canal has considerably reduced lead time for supply of LNG from the US to many countries in Asia Pacific and South America, thereby driving global LNG supply. Growing adoption of natural gas in various downstream industries due to concerns associated with poor air quality, coupled with booming downstream infrastructural developments, increasing capital investments in oil and gas exploration and production activities, and [a] favourable policy environment across [the] majority of the leading economies, is projected to boost demand for LNG across the globe in the coming decade," said Karan Chechi, Research Director with TechSci Research.
