According to the U.S. Energy Information Administration (EIA), global LNG import capacity is poised for a 16% increase, equivalent to 23 billion ft3/d, by the end of 2024 compared to 2022. This estimate is based on data from the International Group of Liquefied Natural Gas Importers (GIIGNL) and trade press information. Notably, in the first seven months of 2023, three countries - Germany, the Philippines, and Vietnam - commenced importing LNG for the first time. The EIA anticipates that by the end of 2024, Antigua, Australia, Cyprus, and Nicaragua will join the ranks of LNG importers. Furthermore, several other nations are in advanced stages of developing their LNG import capacity.

Over the past decade, from 2013 to 2022, global LNG import capacity, often referred to as regasification capacity, has surged by 49%, reaching 140 billion ft3/d across 48 countries. By the close of 2024, the EIA predicts that 55 countries will possess LNG regasification terminals, boasting a collective capacity of 163 billion ft3/d. Importantly, available regasification capacity outstrips LNG imports, with historical usage averaging up to 39% of global regasification capacity annually. This excess capacity, primarily concentrated in Japan, South Korea, and China, allows nations to meet intermittent surges in demand, particularly during winter months. In the previous year, global LNG trade utilized 37% of available regasification capacity, amounting to 51.7 billion ft3/d.

On a regional scale, Asia is expected to lead the global expansion of regasification capacity, accounting for 52% (11.9 billion ft3/d) of the total capacity additions in 2023 and 2024. Europe follows closely with 38% (8.6 billion ft3/d), while the rest of the world represents the remaining 10% (2.3 billion ft3/d).

In China, an impressive 8.5 billion ft3/d of new regasification capacity is under construction, despite a drop in LNG imports in 2022 due to COVID-19-related economic slowdown. India is on track to add 1.3 billion ft3/d of LNG regasification capacity by the end of 2023, with two new terminals, Dhamra LNG and Chhara LNG, coming online. The Philippines and Vietnam also initiated LNG imports in 2023, with plans for further capacity expansion.

In Europe, LNG regasification capacity is set to grow by one-third by the end of 2024 compared to 2022. This expansion is in response to reduced natural gas imports via pipelines from Russia. Germany commenced LNG imports this year, with new terminals coming online, leading the charge in responding to the changing landscape. Several other European nations are in the process of adding new or expanded regasification capacity.

Beyond Asia and Europe, Brazil is expected to add 1.8 billion ft3/d of regasification capacity in 2023, while Australia, despite being a significant LNG exporter, will add 0.3 billion ft3/d of regasification capacity through a new offshore terminal on its eastern coast. Nicaragua and Antigua and Barbuda are set to become new LNG importers, with a combined regasification capacity of 0.1 billion ft3/d. These developments signify the global expansion of LNG import infrastructure as nations seek to meet their energy needs while reducing emissions.