Data and analytics company GlobalData has released a report that states the US and Russia will dominate global capital expenditure on planned oil and gas pipelines up until 2022. The two countries are set to spend an estimated $88.4 billion (£66.9bn) and $78.8 billion (£60bn) respectively on new build pipelines over the next four years.
Moreover, the organisation also mentioned that Canada, China and Nigeria will spend significant amounts on a new oil and gas distribution infrastructure by 2020. It predicted the total length of planned natural gas pipelines around to world to grow to 153,902 kilometres by 2022, with crude oil and petroleum pipelines expected to grow 36,876 kilometres and 30,840 kilometres respectively.
“Booming unconventional oil and gas production is in turn driving the growth of the pipeline network in the US. More and more operators are focusing on connecting growing unconventional production with the Gulf coast for export of oil and gas,” said Soorya Tejomoortula, Oil and Gas Analyst at GlobalData. “Russia is further expanding its massive natural gas pipelines network for exports. The country is building pipelines to transport natural gas from its production centres to demand centres such as China, Japan, India and Europe.”
Formed in 1999, GlobalData has offices across the UK, US, Argentina, South Korea, Mexico, China, Japan, India and Australia, with its headquarters in London. The company’s mission is to help its clients decode the future in order to become more successful and innovative. Through its acquisitions, it managed to become one of the largest data and insights solution providers in the world.