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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

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GlobalData : Asia and Middle East set to contribute 30% of global new-build crude oil trunk pipeline length additions by 2023, says GlobalData

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01/13/2020 | 03:33am EST
13 Jan 2020
Asia and Middle East set to contribute 30% of global new-build crude oil trunk pipeline length additions by 2023, says GlobalData
Posted in Oil & Gas

Asia and the Middle East are expected to collectively contribute about 30% of the global new-build crude oil trunk/transmission pipeline length additions by 2023, says GlobalData, a leading data and analytics company.

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 Asia and the Middle East are likely to have a new-build crude oil pipeline lengths of 4,398 km and 4,055 km, respectively, by 2023.

Varun Ette, Oil and Gas Analyst at GlobalData, comments: 'Asia is expected to witness start of operations of six new-build crude oil pipelines by 2023. Most of the new-build crude oil pipeline length additions are from early-stage announced projects with a total length of 3,528 km and rest is from planned pipelines.'

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GlobalData identifies that Pakistan as the highest contributor to the Asia's new-build crude oil pipeline length additions by 2023 with only one pipeline, Gwadar-Kashgar. The pipeline is presently undergoing conceptual studies and is expected to get approval for a length of 2,414 km. The pipeline is proposed to transport crude oil from Gwadar port in Pakistan to Kashgar pump station in Xinjiang, China.

Ette concludes: 'In the Middle East, 11 planned and announced crude oil pipelines are expected to start operations by 2023. Of these, nine are planned crude oil pipelines with identified development plans and remaining are early-stage announced projects. Basra-Aqaba Oil is the longest upcoming crude oil pipeline in the region with a length of 1,700 km.'

Disclaimer

GlobalData plc published this content on 13 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2020 08:32:00 UTC

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