A Review of the Nigerian Energy Industry

U.S. leads globally with most oil storage capacity – GlobalData

11 February 2018, Sweetcrude, Lagos — Analysis of the global liquids storage market shows that the US has the highest liquids storage capacity globally with 2,162 million barrels (mmbbl). Indonesia and China follow with 2,014 mmbbl and 660 mmbbl respectively, according to GlobalData, a leading data, and analytics company.

Presently, the US accounts for 26 percent of the total global liquids storage capacity. The country has 1,675 active liquids storage terminals. The US is expected to add a capacity of 46 mmbbl from 21 planned and announced storage terminals during 2018 to 2021.

Indonesia has 24 percent share in the global liquids storage capacity in 2018. The country has 176 active liquids storage terminals. Indonesia is forecast to add a capacity of 54 mmbbl from four planned and announced terminals during the period 2018 to 2021.

China contributes about 8 percent of the total global liquids storage capacity in 2018. The country has 118 active liquids storage terminals. A total of 10 planned and announced terminals in China are expected to add a capacity of 66 mmbbl during 2018 to 2021.

The fourth major contributor to the global liquids storage is Japan with 354 mmbbl, contributing about 4 percent of the global total in 2018. The country has 72 active liquid storage terminals. Presently there are no planned and announced projects that would start operations during 2018 to 2021.

South Korea is the fifth largest contributor to the global liquids storage capacity with 231 mmbbl in 2018, contributing about 3 percent of the global total. The country has 36 active liquid storage terminals. South Korea will add a capacity of 12 mmbbl from two planned and announced terminals during 2018 to 2021.

The Netherlands accounts for 3 percent of the global liquids storage with 218 mmbbl in 2018. The country has 39 active liquid storage terminals. Presently there are no planned and announced projects that would start operations during 2018 to 2021.

India, the UK, UAE and Spain account for 7 percent of the global liquids storage capacity with 537 mmbbl in 2018. India and UAE are expected to collectively add a capacity of 34 mmbbl from 12 planned and announced terminals during the period 2018 to 2021.

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