Industrial Info to Present Americas Oil & Gas Production Spending Outlook Webinar
Industrial Info is pleased to be presenting a complimentary webinar on the spending outlook for the Oil & Gas sector in the Americas. The webinar will take place at 9 a.m. CDT (10 a.m. EDT) on April 24.
Industrial Info is tracking more than $367 billion in Oil & Gas projects that are planned to kick off in the Americas in 2018 and 2019. These projects range from low probability to high probability in whether they will reach construction. While some of these projects could be cancelled or pushed out to later dates, the spending pipeline remains strong.
Among the projects being tracked that have kicked off this year in South America is a $450 million liquefied natural gas (LNG) floating storage and regasification terminal in Brazil. Construction began earlier this year and is expected to be completed in early 2020. The facility will have a regasification capacity of 15 million cubic meters per day and storage capacity of 170,000 cubic meters to supply a 1,500-megawatt natural gas-fired power station currently under construction. For more information, see Industrial Info’s project reports on the regasification terminal and power station.
As with refined products, Latin America is likely to be a key export market for LNG produced in the U.S., and Industrial Info is tracking more than $4.5 billion worth of LNG regasification terminals for which construction is set to begin in the region through 2019. For more than a year, Cheniere Energy Incorporated’s (NYSE:LNG) (Houston) Sabine Pass facility in Louisiana was the only operating U.S. LNG export facility; however, Dominion Energy Incorporated’s (NYSE:D) (Richmond, Virginia) Cove Point facility in Maryland recently began commercial exports. Several other U.S. LNG production facilities are in the works, with one train scheduled to come online this year and a sizable amount in 2019.
Industrial Info is tracking 318 U.S. Oil & Gas Production projects valued at $37.37 billion that are scheduled to begin construction this year. For 2019, Industrial Info is tracking 93 Production projects valued at $54.84 billion that are scheduled to kick off construction that year. For 2018, the states with the highest level of project activity are, in order, Texas, Louisiana, Arkansas and Alaska. For 2019, the states with the highest level of project activity are Texas, Louisiana, Alaska and Mississippi.
"The Crude oil production process from unconventional formations continues to grow, surprising many experts," commented Jesus Davis, Industrial Info's vice president of research for the Oil & Gas Production, Pipelines and Terminals industries. "It's nice to become the world's second-largest crude oil producer, and it would be even better to be number one. But the market remains delicate, subject to all sorts of tumult, including OPEC production cheating, trade wars that can cause a global economic slowdown and Iranian exports. Let's not count our chickens before they hatch."
Among the topics to be covered in the upcoming webinar are:
- The hotspots for oil and gas production in Latin America
- The potential for additional LNG infrastructure, including where and why
- A midstream natural gas capital expenditure review by region
- The need for additional terminal capacity by region