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India to lead Asia liquids storage capacity growth through 2026, forecasts GlobalData

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India is expected to lead the liquids storage capacity growth in Asia, contributing about 23% of the total capacity growth between 2022-26. The country is likely to add 23.9 million cubic meters (mmcm) of liquids storage capacity by 2026, forecasts GlobalData, a leading data and analytics company.

GlobalData’s report, ‘Global Liquids Storage Industry Outlook to 2026 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Terminals, reveals that Asia’s liquids storage capacity is expected to increase by 103.6 mmcm during 2022-2026. Out of the total capacity additions, 67.5 mmcm is likely to come from new build projects, and expansions of active projects contribute to the rest with 36.1 mmcm.

2017 04 20 114457Teja Pappoppula, Oil and Gas Analyst at GlobalData, comments: “India is expected to account for the total liquids storage capacity additions of 23.9 mmcm by 2026. Of these, 19.5 mmcm is likely to come from new build projects and the rest 4.4 mmcm would be from expansion projects. Most of these capacity additions are being planned to meet ever growing demand for crude and petroleum products in the country.”

Among the new build projects, the planned Chandikhol liquids storage terminal will be the largest with a capacity of 4.8 mmcm and is expected to become operational in 2025.

The announced Bikaner liquids storage terminal stands next in India with capacity of 4.4 mmcm and is expected to be added in 2025.

The third highest contributor in the country is the planned Padur II terminal, which is likely to add a capacity of 2.9 mmcm in 2025. Indian Strategic Petroleum Reserves Ltd will be the operator of this liquids storage terminal.

  • Comments provided by Teja Pappoppula – Oil & Gas Analyst at GlobalData
  • 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. 

About GlobalData 

4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis, and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial and professional services sectors.

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