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Gazprom 'leads global capex' across oil and gas value chain to 2025

Publication Date: 23 Aug 2018 - By ReachX Team By ReachX T.

Macro Equity Fundamental Equity Commodity UK EU Middle East USA China Asia ex-China Energy


Gazprom, China Petrochemical Corp (Sinopec), and Royal Dutch Shell are the top spenders on planned and announced projects among all oil and gas companies across the sector's value chain to 2025, according to a new report.

In a recent note to clients, data and analytics outfit GlobalData said Gazprom tops it collated data list with an estimated capital expenditure (capex) of $160bn expected to be spent on 84 oil and gas projects globally. The Russian natural gas major is followed by Sinopec and Royal Dutch Shell with $87bn (74 projects) and $86bn (91 projects) respectively. 

Splitting projects by oil and gas segments, GlobalData said Shell leads upstream projects among its peers with an estimated capex of $58bn to be spent on 53 planned and announced production fields globally. Petrobras follows with $48bn spent on 33 fields and Gazprom will be in third position with $40bn to be spent on 22 fields.

In the midstream segment, Gazprom is expected to lead both pipeline and gas processing segments in terms of capex spending. In the pipeline segment, Gazprom is estimated to spend $71bn to bring 18 planned and announced projects online by 2025.

Raj Sekhar, Oil & Gas Analyst at GlobalData, noted: “In the LNG liquefaction segment, Qatar Petroleum is projected to spend an estimated capex of $35bn on two upcoming liquefaction terminals by 2025, while China National Offshore Oil Corporation leads in regasification capex, with $4bn to be spent on three upcoming regasification terminals.”

In the downstream segment, Saudi Aramco is expected to lead with estimated capex of $47bn on the development of six crude oil refineries globally by 2025. Petroleos de Venezuela SA and China Petrochemical Corp follow with capex of $34bn to be spent on six upcoming projects and $31bn  to be spent on six new projects, respectively.

Finally, in the petrochemicals segment, Sinopec is expected to lead with estimated capex of $11bn to be spent on 36 upcoming petrochemical plants, followed by Carbon Holdings Ltd with $9bn expected to be spent on 10 new projects. Kuwait Petroleum Corporation is in third position with $8.9bn to be spent on 31 upcoming projects.


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