GlobalData has forecast that North America will contribute 44 per cent of global crude oil pipeline additions from 2018 to 2022.
GlobalData’s global crude oil pipeline report has estimated that approximately 36,876 km of crude oil pipeline will be added by 2022, with 16,136 km of the pipeline planned for construction in North America.
Contributing to this, North America has the highest new build capital expenditure during the 2018–22 period at US$48.8 billion.
The report also predicts Africa will produce the second highest amount of pipeline additions with a US$13.7 billion capex, and the Middle East the third highest with a US$21.6 billion new build capex.
“Booming unconventional oil and gas production is in turn driving the growth of the pipeline network in the US,” said GlobalData Oil and Gas Analyst Soorya Tejomoortula.
“More and more operators are focusing on connecting growing unconventional production with the Gulf coast for export of oil and gas.
“Africa is expanding its crude oil pipeline network for domestic consumption as well as for exports.
“The planned investment for the pipeline projects are will also generate employment and improve the socio-economic conditions in the region.”
For more information visit the GlobalData website.
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