US to contribute 24% of new-build capacity growth to global gas processing industry by 2023, says GlobalData

US to contribute 24% of new-build capacity growth to global gas processing industry by 2023, says GlobalData

The US is expected to drive new-build gas processing capacity growth in the global gas processing industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 24% of global gas processing capacity growth by 2023, according to GlobalData, a leading data and analytics company.

The company’s report,‘Global Capacity and Capital Expenditure Outlook for Gas Processing Plants – The US Leads Global Gas Processing Capacity Additions’, reveals that the US is expected to have a new-build gas processing capacity of 16.9 billion cubic feet per day (bcfd) by 2023. Planned projects with identifiable development plans account for 53% of the new-build capacity or 9 bcfd and the remaining 7.9 bcfd is expected to come from early-stage announced projects.

Dipayan Chakraborty, Oil and Gas Analyst at GlobalData, says: “The US is expected to add 87 new-build gas processing plants during the outlook period. Of these, the Bighorn and Smithburg II-VI plants will have the highest capacities, each with 999 million cubic feet per day (mmcfd). The Bighorn plant is expected to start operations in 2020; Smithburg II-VI in 2022.”

GlobalData identifies Russia as the second highest country globally in terms of gas processing capacity growth, adding a new-build gas processing capacity of 13.1 bcfd by 2023. The Ust-Luga plant is the largest upcoming gas processing plant in Russia with a new-build gas processing capacity of 4.3 bcfd by 2023.

Saudi Arabia stands third with new-build gas processing capacity growth of 7.8 bcfd by 2023. The Tanajib gas processing plant is the largest upcoming plant in Saudi Arabia with a new-build gas processing capacity of 2.8 bcfd by 2023.”

Published: 20-09-2019