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Asia to lead global newbuild trunk/transmission pipeline additions by 2024
Asia will drive the global newbuild trunk/transmission pipeline additions with a contribution of about 36% of the oil and gas pipeline length additions by 2024, according to GlobalData.
Its latest analysis reveals that Asia is likely to have 46,699 km of newbuild oil and gas pipelines by 2024. Planned projects that have received approvals for development account for about 78% of the total pipeline additions, with the remaining 10,114 km rom early stage announced projects.
Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, comments: ‘Asia is expected to witness start of operations of 109 newbuild oil and gas pipelines by 2024. Of these, 79 are planned pipelines and the remaining are announced pipelines. The Power Of Siberia 1 (China Section) is the longest upcoming pipeline in the region, with a length of 3,371 km.’
GlobalData identifies North America as the second highest contributor to the global newbuild oil and gas pipeline length additions by 2024, with a contribution of 22% of total pipeline additions. Planned projects account for 60% of total additions, while the rest are announced projects with total length of 11,647 km. The Keystone XL project is the longest upcoming pipeline in the region, at 1,947 km.
The Middle East ranks third with 81 planned and announced oil and gas pipelines, which are expected to start operation by 2024 with a total length of 13,574 km. Of these, 54 are planned and the remaining are early-stage announced projects. Basra–Aqaba Oil is the longest upcoming pipeline in the region, with a length of 1,680 km.
Figure 1: Newbuild oil and gas pipeline length additions by key regions, 2020–2024, in km
Source: GlobalData
