The pipeline of planned oil and chemical storage projects will push global capacity from 5,700 mmbbl in 2015 to almost 6,195 mmbbl by 2019, at growth of 15%. Asia, Middle East and North America will collectively drive new construction of oil and chemical storage terminals, totalling to US$37 billion in capital expenditure. The storage capacity in Asia is set to increase by around 368 mmbbl, amounting to about 50% of global capacity growth by 2019.
Next in-line are Oman and Iran, who also have the most planned oil and chemical storage capacity being built with high capital expenditure over the next five years. Regions such as Europe, Africa and South America are expected to witness relatively low oil and chemical storage capacity additions of 38.6 mmbbl, 29.6 mmbbl and 6.9 mmbbl respectively by 2019.
CNOOC Limited is driving planned storage capacity in China, with the Fujian II terminal in the Fujian region accounting for almost 63 mmbbl. Oman Oil Company, with a planned capacity increase of over 204 mmbbl, will account for the majority of the planned capacity in the Middle East. The Iran Ministry of Petroleum is planning on adding over 21..4 mmbbl by 2019. Fairway Energy Partners, LLC and TransCanada Corporation are the major operators behind the growth, with 10 mmbbl and around 5 mmbbl respectively.
Our latest report Global Capacity and Capital Expenditure Outlook for Oil and Chemical Storage – Oman and China Drive Global Storage to Record Capacity, provides historical oil and chemical storage capacity data by major regions in the world from 2009 to 2014, with forecasts up to 2019. The report also gives details of major planned oil and chemical storage projects in the world up to 2019.
The report includes:
- Annual breakdown of capital expenditure spending on proposed oil and chemical storage projects for the period 2015 to 2019
- Planned oil and chemical storage capacity additions and capital expenditure spending by key countries and companies across the world
- Region wise planned capacity additions and capital expenditure spending of new oil and chemical storage projects by key countries and companies
Price: $1,500 (Single User License)
Published: Oct- 2015
Report Format: electronic pdf