North America is set to drive the global new-build crude oil trunk/transmission pipeline length additions, contributing around 51% of the global planned and announced crude oil pipeline length additions between 2019 and 2023, says GlobalData.
The company’s report, ‘Global Crude Oil Pipelines Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Crude Oil Pipelines’, reveals that North America is likely to have a new-build crude oil pipeline length of 14 344 km by 2023.
Varun Ette, Oil and Gas Analyst at GlobalData, comments: “By 2023, 29 new-build crude oil pipelines are expected to start operations in North America, of which 16 are planned projects (with a total length of 7148.9 km), and 13 are in early-stage announcement (with a total length of 7195 km). The Liberty Oil Project is the longest upcoming announced pipeline in the region with a length of 2172.2 km.”
GlobalData identifies that Asia will be contributing around 16% of global new-build crude oil pipeline length additions during the 2019 - 2023 period. In Asia, six new-build crude oil pipelines are expected to commence operations by 2023, of which two are planned pipelines, and four are early-stage announced projects. Gwadar–Kashgar is the longest upcoming announced crude oil pipeline in the region with a length of 2414 km.
Ette concludes: “The Middle East is the third-highest contributor to the global new-build planned and announced crude oil pipeline length additions by 2023 with a total length of 4054.8 km. Basra–Aqaba Oil is the longest upcoming crude oil pipeline in the region with a length of 1700 km.”
Read the article online at: https://www.worldpipelines.com/business-news/10012020/north-america-to-lead-global-new-build-crude-oil-trunktransmission-pipeline-length-additions/