India ranks second in LNG regasification capacity additions in Asia through 2027

India is set to register the second highest LNG regasification capacity additions in Asia between 2023 and 2027, accounting for about 22% of the region’s total capacity additions by 2027, forecasts GlobalData, the data and analytics company.

GlobalData’s report, LNG Industry Outlook by Capacity and Capital Expenditure (CapEx) Including Details of All Operating and Planned Terminals to 2027, shows that India is likely to witness LNG regasification capacity additions of 4,870 billion cubic feet (bcf) by 2027. Out of this, 3,239bcf of capacity is likely to come from the new build terminals, while the remaining will be from the expansion of the existing regasification terminals.

Himani Pant Pandey, Oil & Gas Analyst at GlobalData, comments: “India is adding significant regasification capacity as part of government plans to increase natural gas share in the country’s energy mix from 6.3% to 15% by 2030. The move helps to meet the ever-growing demand for natural gas from both the industrial and domestic sectors.”

Jafrabad Floating is the largest upcoming regasification project in India by 2027. To be operated by Swan LNG Pvt Ltd, it is expected to start operations in 2024 with a capacity of 244 bcf, which is likely to reach 487bcf by 2027.

The second largest contributor among the upcoming projects in the country is the Jaigarh Port terminal, which is likely to add a capacity of 390bcf by 2025. H-Energy Pvt Ltd is the operator of this regasification terminal while Hiranandani Group owns 100% stake in the project.

Pandey concludes: “With a capacity of 292bcf, Jaigarh Port Floating is the third largest upcoming regasification project in India by 2027. H-Energy will operate this terminal as well, with Hiranandani Group holding 100% equity in the project.”