LNG cold and cryogenic recovery: What to track
Watch terminal send-out, cold capture and liquid air's debut
Watch terminal send-out, cold capture and liquid air's debut What this tab covers The attributes worth tracking regularly, with the latest value, the direction of travel and why each matters.Track terminal send-out, the share of cold actually used, and LAES costs.
| Category | Attribute | Latest | Trend | Why it matters |
|---|---|---|---|---|
| Operational | Capacity factor and operating hours | Dahej 22.5 Mtpa nameplate from 31 March 2026 (was 17.5); cold follows send-out6 | ↕ volatile | Cold supply rises and falls with LNG imports. |
| Operational | Thermal efficiency or COP over time (cold capture share) | Japan about 25% (2016 report); Senboku 1 reported 100%3 | → stable | Shows how much available cold is put to work. |
| Counterparty | Host counterparty credit and utilisation rate | Terminal operators are mostly strong state-linked credits6 | → stable | Utilisation, not default, is the main risk. |
| Impact | t CO2e avoided per dollar invested | No project-level figure sourced; India grid average 0.727 t CO2/MWh (FY2023-24) sets the value of electricity saved11 | ↗ improving | Higher on coal-heavy grids. |
| Operational | Heat exchanger fouling and cleaning frequency | Low on the LNG side; seawater side of open-rack vaporisers subject to marine fouling (not quantified in the sources)1 | → stable | Ice formation and marine fouling set maintenance. |
| Policy | Local carbon pricing and penalties | EU ETS EUR 82-88/t in October 2026 (82.40 on 5 Oct, 88.3 on 12 Oct); India's CCTS covers seven industrial sectors (about 490 entities) from FY2025-26, not LNG terminals91213 | ↕ volatile | Carbon cost feeds into power prices, which set the value of electricity saved by using cold. |
| Technology-specific | LAES round-trip efficiency | Standalone about 50-60%; hybrid about 50-90% (2025 review)4 | ↗ improving | LNG integration is the main route to higher efficiency. |
| Technology-specific | LAES first commercial plant | Carrington 50 MW/300 MWh, due to commission in 2026 (first scheduled early 2026); no confirmation of commercial operation found by November 2026. Liquid air absent from Ofgem's June 2026 cap-and-floor shortlist5810 | ↕ volatile | First real cost and performance data. |
Sources
- LNG cold energy utilization: Prospects and challenges (He, Chong, Zheng, Ju, Linga), Energy 170: 557-568 Elsevier (via RePEc IDEAS), 2019
- Cold energy extracts value from the LNG supply chain (trade report, 2016) Riviera Maritime Media, 2016
- Liquid air energy storage: A critical review (She et al.), Renewable and Sustainable Energy Reviews 208 Elsevier (via RePEc IDEAS), 2025
- Energy stored as liquefied air: GBP 300m investment triggers construction of UK's first commercial-scale plant The Chemical Engineer (IChemE), 2024
- Petronet LNG Limited Dahej Terminal Capacity Expands to 22.5 MMTPA Tank Terminals (relaying Petronet LNG announcement), 2026
- Energy storage innovation powers Highview scale-up UK Research and Innovation, 2025
- European carbon prices drop to 7-week low as market eyes upcoming policy agenda S&P Global Commodity Insights, 2026
- Ofgem boosts long duration storage to secure more homegrown energy for customers Ofgem, 2026
- CO2 Baseline Database for the Indian Power Sector, User Guide Version 20.0 Central Electricity Authority, 2024
- European carbon prices rose to EUR 88/t in October GMK Center (ICE data), 2026
- Compliance obligations under India's Carbon Credit Trading Scheme enter force for seven sectors ICAP, 2026