‘Global Capacity and Capital Expenditure Outlook for Underground Gas Storage, 2020−2024 – Russia Leads Global Working Gas Capacity Additions,’, a new report from GlobalData, reveals that Russia is likely to witness a working gas storage capacity addition of 585 billion ft3 by 2024.
Out of which, it said the capacity of planned projects that have received necessary approvals for development accounts for nearly 573 billion ft3. Russia is expected to witness the highest global working gas storage capacity additions, contributing around 21% of the global capacity additions by 2024, according to the report.
Haseeb Ahmed, Oil and Gas Analyst at GlobalData, said: “Russia is expected to witness the start of six new-build gas storage sites by 2024. Of these, five are planned and the remaining is an announced site. Stepnovskoe II is the largest upcoming gas storage site in the country, with a capacity of 199 billion ft3 followed by Bednodemyanovskoye I with 177 billion ft3 by 2024.”
It identifies China as the second-highest contributor to the global working gas storage capacity additions contributing around 17% or 473 billion ft3 by 2024.
The country is expected to witness the start of operations of four planned projects. Liaohelei 61 is the largest upcoming gas storage site in the country with a capacity of 406 billion ft3 by 2024. Tongluoxia is the second largest upcoming gas storage site with a capacity of 53 billion ft3.
For more information visit www.globaldata.com