GlobalData’s latest report, “Former Soviet Union Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects” indicates that Former Soviet Union (FSU) is expected to witness 536 oil and gas projects to commence operations during the period 2021-2025. Out of these, upstream projects would be 73, midstream at 124 projects, refineries at 112, and petrochemicals would be the highest with 227 projects.
Refinery and petrochemical projects together constitute about 63 percent of all upcoming oil and gas projects in the during 2021–2025. Midstream sector follows next, with the gas processing segment alone constituting 39 percent of all projects followed by pipeline and UGS with 27 and 15 percent respectively.
New build projects lead the upcoming projects landscape in the FSU constituting around 70 percent of the total projects across the value chain. The share of new build projects is especially high in the petrochemicals and midstream sector with more than 88 percent.
In the FSU, about 48 percent of the projects are in construction and commissioning stages and are more likely to commence operations during the outlook period. About 39 percent of the projects are in the planning stages and the rest have been approved or awaiting approval.
Among countries, Russia leads the upcoming projects landscape in the Africa accounting for 67 percent of the total projects expected to start operations during the 2021 to 2025 period.