Lee Nichols, Vice President, Content/Editor-in-Chief
Gulf Energy Information’s Global Energy Infrastructure (GEI) database is tracking more than 1,200 active projects in the hydrocarbon processing industry (HPI). At 40%, the Asia-Pacific region continues to be the leader in total active project market share. Asia is followed by the Middle East and the U.S.
When analyzed by sector, refining is the leader with 38% market share, followed by petrochemicals (34%) and gas processing/LNG (28%). Most refining projects are in Asia, primarily in China and India—Indian refiners are investing heavily in new production capacity to satisfy increasing demand for transportation fuels. These two nations are followed by Indonesia that is actively pursuing new refining capacity under its Refining Development Master Plan (RDMP).
Asia also leads in active petrochemicals and gas processing/LNG project market share. The region is adding a substantial amount of petrochemical capacity to satisfy increasing regional/countrywide demand. The stark increase in individuals moving into middle classes in Asia is leading to a boost in the demand for plastics and other petrochemical goods/products. Regarding natural gas demand, several Asian countries are building new LNG import capacity. The much-needed natural gas will provide feedstock to gas-fired power plants, helping these nations decarbonize their domestic electricity generation sectors. HP