GlobalData’s latest report, ‘North America Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex, and Contractor Details of All New Build and Expansion Projects’ indicates that North America is expected to witness 603 projects to commence operations during the period between 2021-2025. Out of these, upstream projects would be 104, midstream would be the highest with 333 projects with refinery and petrochemical at 23 and 143 respectively.
The midstream segment dominates when it comes to total upcoming projects count in North America during the period between 2021–2025. In midstream, the pipeline segment alone constitutes 44% of all midstream projects followed by oil storage and gas processing segments with approximately 21%-22%.
Newbuild projects dominate the upcoming project landscape in North America, constituting approximately 80% of the total projects across the value chain. The share of newbuild projects is especially high in the midstream sector with more than 90%. On the other hand, expansion projects dominate upstream (fields) and downstream (refineries) sectors.
Also, close to 40% of the projects are in construction and commissioning stages and are more likely to commence operations during the outlook period. Approximately 30% of the projects are in the planning stages and the rest have been approved or awaiting approval.
Oil and Gas Projects in North America, Projects by Stage, 2021-2025*
Among countries, the US dominates the upcoming project landscape in North America, accounting for 70% of the total projects expected to start operations by 2025. Out of these, newbuild projects dominate with 83% while the rest are expansion projects mainly in the upstream sector.