The US is expected to have the highest new build gas processing capacity by 2022, according to a report by GlobalData.
Titled ‘Global Capacity and Capital Expenditure Outlook for Gas Processing Plants – Middle East to Add Highest Gas Processing Capacity’, the report gives details about global gas processing capacity for the outlook period between 2018 and 2022.
According to the report, global gas processing capacity is projected to increase by 13.5% from the existing 531 billion cubic feet per day (bcfd) in 2018 to around 603bcfd in 2022.
During the outlook period, 249 new build (announced and planned) gas processing plants are scheduled to become operational globally.
Among regions, North America will have highest number of new build plants (122), followed by Middle East with 44 and Africa with 23.
In terms of gas processing capacity, the Middle East leads with about 29.5bcfd from 44 new build projects, while North America is placed distant second with additions of 18.8bcfd of capacity through 122 projects.
Among countries, the US is projected to have the highest new build capacity addition of 15.2bcfd by 2022 through 92 projects, followed by Iran with 10.4bcfd of capacity additions through 11 projects.
Globally, the aggregate expenditure on new build gas processing plants during 2018–2022 is estimated to be $139.7bn.
The report named the Middle East ($48.2bn) and the FSU ($36.4bn) as the regions with the highest capital expenditure (capex) on additions of planned processing capacity.
During the outlook period, Russia will lead in terms of expenditure on new-build gas processing plants with $19.3bn, followed by the US with $18.8bn.
Among companies, National Iranian Oil Company (NIOC), Saudi Arabian Oil Co and BP are expected to have the highest gas processing capacity additions, with 6.8bcfd, 6.7bcfd and 3.1bcfd, respectively.
In terms of proposed capex for new build projects, Saudi Arabian Oil Co leads with $12.6bn, followed by Gazprom and NIOC with $12.3bn and $7.1bn, respectively.
Source:
- Global gas processing capacity is expected to grow by 13.5% from the current 531 billion cubic feet per day (bcfd) in 2018 to around 603bcfd in 2022
- Globally 249 new build (Announced and Planned) gas processing plants are expected to commence operations during the period 2018 to 2022. North America leads with 122 new build plants, followed by Middle East with 44 and Africa with 23
- The Middle East is expected to add the highest gas processing capacity by 2022, about 29.5bcfd from 44 new build projects. North America follows, with additions of 18.8bcfd of capacity through 122 projects
- Among countries, the US is expected to add the highest new build capacity of 15.2bcfd by 2022 through 92 projects. Iran follows, with 10.4bcfd of capacity additions through 11 projects
- A total of $139.7bn is expected to be spent on new build gas processing plants during 2018–2022. The Middle East and the FSU lead globally in terms of capital expenditure (capex). The two regions are expected to spend $48.2bn and $36.4bn on additions of planned processing capacity, respectively
- Russia and the US are expected to be the top spenders among countries on new-build gas processing plants, with $19.3bn and $18.8bn to be spent respectively during 2018-2022,. Among companies, National Iranian Oil Company (NIOC) is expected to add the highest gas processing capacity among companies by 2022, with 6.8bcfd. Saudi Arabian Oil Co and BP follow with 6.7bcfd and 3.1bcfd, respectively
- Saudi Arabian Oil Co has the highest proposed capex for new build projects during the 2018–2022 period, with $12.6bn. Gazprom and NIOC follow with $12.3bn and $7.1bn, respectively
- Among all the planned and announced projects during the 2018–2022 period, Galkynysh II plant in Turkmenistan and Tanajib in Saudi Arabia will have the highest gas processing capacities, of 2,899 million cubic feet per day (mmcfd) and 2,698mmcfd, respectively
