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June 14, 2019updated 25 Nov 2021 10:40am

Oil and gas companies are targeting liquefaction and pipeline sectors in North America

North America's big new-build spenders over the next five years are Alaska Gasline Development Corp (AGDC), TC Energy Corporation and Venture Global Partners LLC.

By GlobalData

GlobalData’s latest report looking at capital expenditure (Capex) in the North American oil and gas sector has identified the top corporate spenders on new-build projects over the next five years.

The 42-page report focuses on planned and announced projects across midstream and downstream segments (including petrochemicals) during 2019–2025.

North America oil and gas 2025

North America’s big spenders for the period are Alaska Gasline Development Corp (AGDC), TC Energy Corporation and Venture Global Partners LLC.

AGDC tops the list with Capex of US$37.9 billion expected to be spent on four oil and gas projects in North America. TC Energy Corporation and Venture Global Partners LLC follow with similar Capex of $25.9 billion (22 projects) and $25.8 billion (five projects), respectively.

New-build Capex by key companies on planned and announced projects across midstream, downstream and petrochemicals segments (2019-2025)

Source: Midstream, Downstream, and Petrochemicals Analytics,
GlobalData Oil and Gas © GlobalData

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On the midstream side, AGDC is expected to lead the gas processing segment in terms of new-build Capex. The company is expected to spend $6.3 billion on an announced project, Prudhoe Bay II, in the US. In the trunk pipelines segment, TC Energy Corporation is estimated to spend $24.8 billion to bring 20 planned and announced pipeline projects online by 2025.

In the LNG liquefaction front, Venture Global Partners LLC is expected to spend $25.6 billion on three upcoming liquefaction terminals, Delta LNG, Plaquemines and Calcasieu Pass, by 2025.

In the underground gas storage sector, Magnum Gas Storage LLC leads with estimated Capex of $350 million expected to be spent on its planned gas storage terminal, Magnum, in the US during the outlook period 2019–2025.

On the downstream side, Pacific Future Energy is expected to lead with estimated Capex of $14 billion on the development of an announced refinery, Dubose Flats, in Canada, by 2023. Kitimat Clean Ltd and Petroleos Mexicanos (Pemex) follow with Capex of $8.5 billion and $6.5 billion, expected to be spent on one refinery each, during the period 2019–2025.

In the petrochemical sector, Badlands NGLS LLC is expected to lead with estimated Capex of $4.9 billion to be spent on six upcoming petrochemical plants, followed by NW Innovation Works Inc with estimated Capex of $4.5 billion expected to be spent on two new projects.

Related report:

Top Oil and Gas Companies Capital Expenditure Outlook for Midstream and Downstream Segments in North America – Companies Target Liquefaction and Pipeline Sectors for Investments

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