The Former Soviet Union (FSU) is expected to lead the global planned and announced working gas capacity additions, contributing approximately 34% of the total global capacity additions by 2025, says GlobalData, a leading data and analytics company.
The company’s report, ‘Global Capacity and Capital Expenditure Outlook for Underground Gas Storage, 2021–2025 – Gazprom to Drive Global Working Gas Capacity Growth’, reveals that the FSU is expected to witness the highest capacity additions globally from planned and announced projects during the outlook period 2021 to 2025 with 1.1 trillion cubic feet (tcf).
Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments: “Russia and Uzbekistan primarily drive working gas capacity additions in the FSU by 2025. Both countries are building the underground gas storage sites to effectively meet domestic peak natural gas demand. The proposed projects also help them to increase gas exports as well through pipelines.”
GlobalData identifies Europe as the second highest contributor to global working gas capacity additions, accounting for around 26% of the total additions by 2025. The Deborah depleted oil and gas field in the UK drives the planned working capacity in the region with 174.5 bcf by 2025. Eni SpA is the operator as well as 100 percent equity holder of the project.”
The Middle East ranks third globally contributing roughly 18% of global working gas capacity additions during the outlook period. Tuz Golu II in Turkey drives the planned working gas capacity additions in the region with 148.3 bcf by 2025.
- Comments provided by Bhargavi Gandham, Oil & Gas Analyst at GlobalData
- Information based on GlobalData’s report: ‘Global Capacity and Capital Expenditure Outlook for Underground Gas Storage, 2021–2025 – Gazprom to Drive Global Working Gas Capacity Growth’
- Announced/Planned: Denotes only new build assets that are in different stages of development and have not started commercial operations
- A new build project that has not received relevant/ required approvals to develop/build the project is considered as Announced
- A new build project that has received relevant/ required approvals from the national government/ energy ministry/ regulatory authority/ local environmental authority/ port authority/local government, etc to develop/build the project is considered as Planned
- Expansion – Denotes capacity expansion of existing/operational terminal
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
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