08252019Sun
Last updateThu, 22 Aug 2019 5pm

End-User News

New Downstream Project Announcements Up 43%

According to the Hydrocarbon Processing Construction Boxscore Database, more than 320 new downstream capital projects have been announced over the past year. This total represents a 43% increase in new project announcements year over year. Since September 2017, new project announcements have averaged nearly 25/mos. Most of these new projects (80%) are within the gas processing/LNG and petrochemical industries.

With more than 110 projects, the Asia-Pacific region continues to lead in new project announcements. The U.S. follows the Asia-Pacific region with a 26% market share in new project announcements. Both the gas processing/LNG and petrochemical industries in the U.S. have benefitted greatly from domestic shale gas production, which has created a boom in the development of new natural gas gathering and processing capacity, infrastructure buildouts, LNG export capacity and a renaissance in the country’s petrochemical sector. 

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