More Than $26 Billion of LNG Projects Proposed in Europe

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Researched by Industrial Info Resources (Sugar Land, Texas)--Approximately US$26.46 billion (18.8 billion euros) in liquefied natural gas (LNG) projects are being proposed in Europe. Construction of new LNG facilities and the expansion of existing facilities are intended to supply the predicted increased demand for cleaner-burning natural gas to generate power. Europe has outgrown the supplies that are delivered via the North Sea fields. Additionally, Europe has demonstrated its vulnerability to supply disruptions from Russia because of political problems with Ukraine and other countries that the Russian natural gas pipelines cross. Both of these issues have caused price fluctuations that have disturbed the energy markets of Europe.

Presently, Industrial Info is tracking the progress of 47 LNG projects in Europe with a potential total capital value of US$26.46 billion (18.8 billion euros) and an average capital value of US$562 million (400 million euros). Of the 47 proposed projects, one is a liquefaction facility expansion in Norway with a capital value of US$1.38 billion (981 million euros), and the remaining 46 proposed projects are LNG-receiving and regasification facilities carrying a capital value of US$25.08 billion (17.8 billion euros).

Southern Europe is home to the highest number of projects, with 18 valued at US$9.19 billion (6.5 billion euros) and an average project value of US$510 million (362.6 million euros). Northern Europe is home to 13 projects valued at US$6.59 billion (4.69 billion euros) and an average project value of US$507 million (360.5 million euros). This is followed closely by Western Europe with 12 projects valued at US$7.43 billion (5.28 billion euros) and an average project value of US$618 million (438.7 million euros). The remaining four projects are located in Eastern Europe and carry a value of US$3.25 billion (2.3 billion euros), averaging approximately US$811 million (576.6 million euros) each.

The majority of the proposed projects are located in the United Kingdom, Spain, Italy, and France. These four countries are home to 27 of the 47 proposed projects, totaling US$12.92 billion (9.19 billion euros) in potential work. The remaining 20 projects are located in Albania, Belgium, Croatia, Germany, Greece, Ireland, Lithuania, the Netherlands, Norway, Poland, Portugal, Romania and Sweden.

The 47 LNG-related projects in Europe are a subset of a total of 206 LNG projects totaling US$379.34 billion (269.78 billion euros) that Industrial Info is tracking globally. The average project value for these 206 projects is approximately US$1.84 billion (1.31 billion euros).

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project opportunity databases, market forecasts, high resolution maps, and daily industry news.