Midstream projects are expected to grab a major share of the projected total global capital expenditure (CAPEX) across oil and gas value chain on planned and announced projects for the outlook period from 2018 to 2025, according to a report by GlobalData.
A total of $3.3tn will be spent during the outlook period, with $545bn of this expected to be spent this year.
Titled ‘Quarterly Global Oil & Gas Capital Expenditure Outlook – High New Build Capex on Crude Oil Refineries’, the report focuses on global CAPEX across oil and gas value chain on planned and announced projects.
Midstream projects will account for 45% of the total CAPEX, which translates to $1.5bn, while spending on upcoming crude oil refineries is estimated to be 22% or $729bn.
Around 24% or $801bn will be incurred as CAPEX on the major planned and announced production fields, while the petrochemicals sector will get 9% of the global total CAPEX or $301bn.
In terms of oil and gas value chain, production fields will have the highest capital spending with $801bn by 2025, followed by crude oil refineries, and trunk or transmission pipelines with $729bn and $631bn, respectively.
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By GlobalDataAmong projects, Xinjiang–Guangdong–Zhejiang SNG, a planned gas pipeline, is expected to emerge as a frontrunner in terms of CAPEX during the outlook period with $30bn, while Lindi, an announced LNG liquefaction terminal; and Ratnagiri, an announced refinery, are projected to occupy the second and third places with $28bn and $27.9bn, respectively.
Among companies, Gazprom, ExxonMobil, and Royal Dutch Shell are expected to have the highest CAPEX to be spent across oil and gas value chain by 2025.
Gazprom occupies top spot with projected CAPEX of $179bn, followed by ExxonMobil and Royal Dutch Shell with $97bn and $92bn respectively.
