P&GJ international pipeline construction outlook.
Pipeline & Gas Journal › Vol. 229 Nbr. 8, August 2002
Linked as:
Summary
P&GJ's Annual Construction Outlook - Brief Article - Statistical Data Included
See the full content of this document
Extract
P&GJ international pipeline construction outlook.
Pipeline & Gas Journal's 2002 international construction survey figures indicate 70,076 miles of oil and gas pipeline are in various stages of construction or planned for construction at this time.
This year's report indicates that, once again, pipeline construction activity in the Former Soviet Union (FSU) and Eastern Europe continues to be considerably higher than in other areas of the world accounting for 20,880 miles of pipeline under construction and planned. Partly, this is due to efforts by Russia to add to its extensive network of international pipelines to export markets. A major push is also under way to diversify the country's export markets so it can ship less gas to debtor nations and be less dependent on the Ukraine, which not only reportedly owes Russia in excess of $250 million for previous gas supplies, but serves as a transit route for more than 90 percent of its exports to Eastern and Western Europe. A strong pipeline construction showing by the FSU and EE is also supported by the recently released BP Statistical Review of World Energy 2002. As the data show, 2001 was a volatile year in the world's energy markets, as a result of both the economic downturn and the events of 9/11. Even before 9/11, the U.S. economy was showing signs of slipping, and many analysts believe the attacks in September virtually ensured that the country would be pushed into recession, in fact, the National Bureau of Economic Research declared in late November that a U.S. recession started in March 2001. Recession in the U.S. clearly has implications for international markets and, in turn, the demand for energy worldwide. Recent energy consumption trends seemingly support this, indicating North American consumption fell year-on year for the first time in a decade, declining a sizeable 2.4 percent. Consumption in South and Central America decreased by 0.3 percent, compared with a 10-year annual trend growth of 3.2 percent. Asia, (excluding China) recorded some growth in energy use, at 1.3 percent, but this was well below the 10-year annual trend rate of 3.4 percent. [ILLUSTRATION OMITTED] The Review indicates China and the FSU ...See the full content of this document
Sponsored links
