US dominates upcoming oil and gas project starts in North America by 2025, says GlobalData
The US will drive upcoming project starts across the oil and gas value chain in North America, accounting for 70% of the total projects expected to start operations by 2025. Of these, new build projects dominate with 83%, while the remaining are expansion projects mainly in the upstream sector (fields, excluding shale), according to GlobalData, a leading data, and analytics company.
GlobalData’s report, ‘North America Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects’, reveals that 417 projects are expected to commence operations in the US during the period 2021-2025. Out of these, 47 are upstream projects (excluding shale) and 234 midstream projects with refinery and petrochemical at 18 and 118, respectively.