The Middle East is expected to register the highest refinery condensate splitter capacity additions globally between 2021 and 2025, contributing more than half of the total capacity additions by 2025, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Global Refinery Condensate Splitter Units Outlook to 2025’, reveals that the Middle East is likely to witness total condensate splitter unit capacity additions of 486 thousand barrels per day (mbd) by 2025, mostly through new build refineries.
Teja Pappoppula, Oil and Gas Analyst at GlobalData, comments: “Iran is the sole contributor to the Middle East’s condensate splitter unit capacity additions as it continues to process gas condensate produced from the giant South Pars field. Among the new build refinery projects in the country, the planned Siraf refinery in Iran is likely to add a capacity of 360 mbd in 2025. The refinery will process gas condensate mainly to produce gasoline and petrochemical feedstock.”
GlobalData identifies Africa as the second highest contributor, accounting for around 27% of the total additions by 2025. Forcados and Ohaji are two refineries in Nigeria that are contributing 100 mbd of capacity each in the region and both are expected to become operational in 2023.
Asia ranks third globally, contributing around 7% of global condensate splitter unit capacity additions during the outlook period. Malaysia accounts for total capacity additions in the region, with 150 mbd of capacity expected to be added by 2025 from the new build Pengerang II project.
Source: GlobalData