Gas pipeline infrastructure market to hit $2 trillion by 2024


Growing discoveries of unconventional reserves coupled with the increasing number of gas-fired power generation stations across the globe will drive the gas pipeline infrastructure market size to a whopping $2 trillion by 2024, said a report.

Growing discoveries of unconventional reserves coupled with the increasing number of gas-fired power generation stations across the globe will drive the gas pipeline infrastructure market size, which is likely to exceed a whopping $2 trillion by 2024, said a report by Global Market Insights.

The key players across the gas pipeline infrastructure market includes Europipe, Gazprom, Enbridge, Snam Rete, APA Group, Saipem, Perusahaan Gas Negara, GAIL India, Engas, and National Oilwell Varco.

In 2016, the Energy Information Administration (EIA) published that shale production in the country surpassed 15.2 trillion cubic meters (tcm) in 2015 experiencing over 1.7 tcm year on year increase.

Rising energy demand across the developing economies owing to evolving substructure and rapid urbanization will foster the gas pipeline infrastructure market share, stated the report.

Increasing development has resulted in exponential growth of cross border exports and imports through pipeline networks. In 2016, the EIA reported that natural gas pipelines exports from Russia and Norway to Europe were raised by 16 per cent in the last three quarters of 2015 when compared with 2014 level, it added.
 
Italy gas pipeline infrastructure market is projected to surpass cumulative installation of 300,000 km by 2024, stated the report.

According to industry experts, the rising investments to develop transmission links to cross border transactions through offshore routes will complement the business growth.

In 2016, Saipem entered into an agreement with Trans Adriatic Pipeline to develop 105 km of 36 offshore gas pipeline between coastlines of Italy and Albania, they stated.

Upsurge in the need to enhance the international natural gas trade to suffice the energy demand and generation targets will positively drive the transmission gas pipeline infrastructure market.

In 2016, Spectra Energy and TransCanada awarded a contract to build, own and operate the new pipeline from Texas to Tuxpan, Mexico. The aim of the 270-km pipeline plan, which is estimated to cost nearly $3.6 billion, was to successfully supply the US shale to power plants in Mexico by 2018.
 
Increase in production of unconventional resources coupled with strict government norms toward adoption of low emission fuel will embellish the US gas pipeline infrastructure market, stated experts.

Ongoing expansion of existing pipeline networks favoured by increasing demand for exports will further complement the industry outlook.

In 2017, the EIA had published a report which stated that natural gas production was expected to hold around 40 per cent of the total energy production by 2020.
 
In the Mena region, the Algeria gas pipeline infrastructure market is predicted to grow over six per cent by 2024.

Substantial administration funding for extension of the national transmission and distribution networks will augment the industry growth, said the report by Global Market Insights.

In 2016, the Algerian government-owned O&G company Sonatrach announced that it would invest $3.2 billion over four years to enhance the pipeline capacity, it stated.
 
On the market outlook, experts said the growing number of connected end-users coupled with positive outlook toward hydrocarbons trade with nearby nations will propel the onshore gas pipeline infrastructure market. -TradeArabia News Service