US$3.3 trillion to be spent across planned oil and gas projects worldwide

plan 244A total capital expenditure (capex) of US$3.3 trillion is expected to be spent globally across oil and gas value chain on planned and announced projects between 2018 and 2025, according to GlobalData, a leading data and analytics company

Of the total capex, US$545bn is expected to be spent alone in 2018.

GlobalData’s report ‘Quarterly Global Oil & Gas Capital Expenditure Outlook’ reveals that around 45 per cent or US$1,502bn could be spent on midstream projects, and 22 per cent or US$729bn on upcoming crude oil refineries. Close to 24 per or US$801bn is expected to be spent on the major planned and announced production fields. The petrochemicals sector is expected to account for nine per cent of the global total or US$301bn.

In oil and gas value chain, production fields, crude oil refineries, and trunk or transmission pipelines are expected to lead capital spending with US$801bn, US$729bn and US$631bn, respectively by 2025.

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Joseph Gatdula, oil and gas analyst at GlobalData, said, “Among oil and gas companies, Gazprom, ExxonMobil and Royal Dutch Shell are the top spenders in terms of capex to be spent across oil and gas value chain by 2025. Gazprom tops the list with estimated capex of US$179bn. ExxonMobil and Royal Dutch Shell follow with US$97bn and US$92bn, respectively.”

In upstream segment, on planned and announced production fields, Shell will lead among companies with capex of $58bn. Gazprom is expected to lead both pipeline and gas processing segments with estimated capex of US$79bn and US$22bn, respectively.

In the LNG segment, ExxonMobil is expected to have capex of US$47bn on upcoming liquefaction terminals while China Overseas Holdings Ltd is expected to have US$4bn on regasification terminals.

Gatdula added, “Bendis Energy leads with estimated capex of US$11bn in underground gas storage segment, while State Company for Oil Projects leads with capex of US$2bn on liquids storage terminals.”

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