India to account for over one-third midstream project starts in Asia by 2025, says GlobalData
Published by Elizabeth Corner,
India is likely to start the operations of 118 midstream oil and gas projects from 2021 to 2025, accounting for 35% of the total upcoming midstream project starts in Asia by 2025, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Global Midstream New Build and Expansion Projects Outlook, 2021-2025 - Transmission Pipelines Dominate Global Midstream Project Starts’, reveals that out of 118 projects to commence operations in India, transmission pipelines projects would be 55, liquids storage would be 43, LNG regasification 17, and gas processing projects would be three.
Bhargavi Gandham, Oil & Gas Analyst at GlobalData, comments: “Being one of the rapidly growing economies in the world, India is one of the largest consumers and importers of oil and gas globally. The country is developing a robust midstream infrastructure for greater imports, transport and storage to meet the growing demand for oil and gas.”
Among the midstream segments, transmission pipelines projects would constitute around 47% of all midstream projects’ starts in India during the period 2021 to 2025. The Kandla–Gorakhpur LPG pipeline is one of the key projects with a length of 2757 km and costing US$1.4 billion. The pipeline project would serve LPG bottling plants in the states of Gujarat, Madhya Pradesh and Uttar Pradesh that meets the growing demand for the commodity in India.
GlobalData notes that liquids storage projects would constitute around 36% of all midstream projects starts in India during the period 2021 to 2025. Among the upcoming liquids storage projects, the Chandikhol project leads with a storage capacity of 30 million barrels and costing US$941 million. The project is presently in the approval stage and is expected to start operations in 2025.
Among the LNG regasification projects, Karwar Floating project leads with an LNG regasification capacity of 365 billion ft3 and costing US$573 million. The project is presently in the construction stage and is expected to start operations in 2023.
In the gas processing segment, the Raageshwari II project dominates with a gas processing capacity of 100 million ft3/d. Vedanta Resources Ltd is the operator as well as 100% equity holder of the project, which is expected to start operations by 2022. Dirok II and Kaza are the other projects that collectively account for the remaining 66 million ft3/d of gas processing capacity expected to become operational during 2021 to 2025.
Read the article online at: https://www.worldpipelines.com/project-news/12102021/india-to-account-for-over-one-third-midstream-project-starts-in-asia-by-2025-says-globaldata/
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