GlobalData : Gazprom to lead global gas processing capacity additions by 2023

24 Sep 2019
Gazprom to lead global gas processing capacity additions by 2023 Posted in Oil & Gas, Press Release

Gazprom is expected to lead new-build gas processing capacity additions in the global gas processing industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 13% to global gas processing capacity growth by 2023, according to GlobalData, a leading data and analytics company.

The company's report, 'Global Capacity and Capital Expenditure Outlook for Gas Processing Plants - The US Leads Global Gas Processing Capacity Additions', reveals that Gazprom is likely to have a new-build gas processing capacity of 10.5 billion cubic feet per day (bcfd) by 2023 from planned and approved projects.

Dipayan Chakraborty, Oil and Gas Analyst at GlobalData, comments: 'Gazprom is expected to be involved in five new-build gas processing plants during the outlook period. Among these, Ust-Luga in Russia is the largest gas processing plant in the company's portfolio and is expected to start operations in 2023. Gazprom holds 50% share in this project.'

Saudi Arabian Oil Co will be the second-highest company globally in terms of new-build gas processing capacity additions with 7.8 bcfd by 2023. The Tanajib plant in Saudi Arabia is the largest planned gas processing plant in the company's portfolio.

Chakraborty concludes: 'Some of the other major players in terms of global gas processing additions by 2023 include; Petroleos de Venezuela SA and RusGazDobycha, each with a capacity of 2.2 bcfd.