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  1. Market Data
April 13, 2022

Contract activities in petrochemicals segment in Europe down 15% in Q1 2022

By Carmen

The petrochemicals segment contracts in Europe registered a decrease of 15% with 11 contracts in Q1 2022, when compared with the previous quarter’s total of 13 contracts, according to GlobalData’s oil and gas contracts database.

A total of 11 contracts were registered in the petrochemicals segment of Europe during the quarter, when compared with the last four-quarter moving average of 20 contracts.



Contract award activity in Europe’s petrochemicals segment during Q1 2022

Looking at the total oil and gas contracts by country in the petrochemicals segment of Europe, Belgium and Russia led the activity in Q1 2022 with two contracts and an 18% share each. It saw an increase of 200% over the previous quarter’s no contracts and an increase of 100% when compared with the last four-quarter-average of one contract in Belgium, followed by Spain with one contract and a 9% share, followed by Spain with one contract and a 9% share.

Based on five-quarter moving average of the contracts in the petrochemicals segment of Europe, Russia took the top spot with eight contracts, followed by Norway and Poland with three and two contracts, respectively.

Contracts by scope of work in Europe’s petrochemicals segment during Q1 2022

During the quarter, the majority of petrochemicals segment contracts awarded in the Europe were in the design & engineering and procurement with seven contracts each, followed by construction with two contracts.

Methodology

All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.

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