Global natural gas and LNG storage capacity in import markets is expected to expand by 10%, or 45 billion cu m (bcm), during the 2023-2028 period, largely supported by projects in China, Europe,and Eurasia, the International Energy Agency (IEA) said in its latest Quarterly Gas Market Report.
Within this period, there is an anticipated increase of over 35 bcm in underground gas storage (UGS) capacity. Notably, more than 75% of this added capacity will come from porous reservoirs such as aquifers and depleted fields. LNG storage capacity associated with regasification terminals is expected to increase by close to 10 bcm over the forecast period.
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