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Europe and the Middle East to lead the increase in global gas capacity by 2026

In GlobalData’s latest report, Global Underground Gas Storage Capacity and Capital Expenditure Forecast, 2022-2026. states that global working gas capacity in underground gas storage is expected to grow by 12% from 16.8 trillion cubic feet (tcf) in 2022. to 18.8 trillion feet by 2026.

Among regions, Europe and the Middle East are expected to witness significant increases in working gas capacity from planned and announced projects, with 882 billion cubic feet (bcf) and 570bcf, respectively.

It is expected that on a global scale, Russia will lead the increase of working gas capacity among countries from planned and announced projects during 2022-2026. However, the increase in capacity remains uncertain due to the plans of several oil and gas companies to leave the country due to the war in Ukraine. Apart from Russia, China and Turkey are the other key countries in terms of increasing working gas capacities with 496bcf and 372bcf, respectively.

Among upcoming gas storage projects, Jidong II in China leads the world in terms of working gas capacity among planned and announced gas storage projects between 2022 and 2026 with 371bcf.

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https://www.offshore-technology.com/comment/working-gas-capacity-additions/ Europe and the Middle East to lead the increase in global gas capacity by 2026

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