Gazprom, China Petrochemical Corp (Sinopec) and Royal Dutch Shell are predicted to be the big global spenders on planned and announced projects among oil and gas companies.
That is according to data and analytics company, GlobalData, which revealed that Gazprom tops the list with estimated capital expenditure of US$160bn expected to be spent on 84 oil and gas projects globally to 2025. Sinopec and Royal Dutch Shell follow with US$87bn (74 projects) and US$86bn (91 projects) respectively.
The company’s report: ‘H1 2018 Top Global Oil and Gas Companies Planned Projects and Capital Expenditure Outlook’ shows that in the upstream sector, Shell tops the list with an estimated capex of US$58bn earmarked for 53 planned and announced production fields. Petrobras follows with US$48bn spent on 33 fields and Gazprom will be in third position with US$40bn to be spent on 22 fields.
In the midstream sector, Gazprom is expected to lead both pipeline and gas processing segments in terms of capex spending. In the pipeline segment, Gazprom is estimated to spend US$71bn to bring 18 planned and announced projects online by 2025.
Raj Sekhar, Oil & Gas Analyst at GlobalData, comments: “In the LNG liquefaction segment, Qatar Petroleum is projected to spend an estimated capex of US$35bn on two upcoming liquefaction terminals by 2025, while China National Offshore Oil Corporation leads in regasification capex, with US$4bn to be spent on three upcoming regasification terminals.”
In the underground gas storage segment, Bendis Energy leads with an anticipated capex of US$11bn estimated to be spent on three planned gas storage terminals by 2025, while State Company for Oil Projects leads with capex of US$2bn to be spent on two upcoming liquids storage terminals.
In the downstream segment, Saudi Arabian Oil Co is expected to lead with estimated capex of US$47bn on the development of six crude oil refineries globally by 2025.
Petroleos de Venezuela SA and China Petrochemical Corp follow with capex of US$34bn to be spent on six upcoming projects and US$31bn to be spent on six new projects, respectively.
In the petrochemicals segment, Sinopec is expected to lead with estimated capex of US$11bn to be spent on 36 upcoming petrochemical plants, followed by Carbon Holdings Ltd with US$9bn expected to be spent on 10 new projects. Kuwait Petroleum Corporation is in third position with US$8.9bn to be spent on 31 upcoming projects.