September 2015

Engineering and Construction Solutions Supplement

New projects decline, but backlog holds strong

Even after the recent downturn in oil and natural gas pricing, our analysis shows why downstream E&C companies can depend on a strong backlog to last through the decade.

Kulkarni, P., Gulf Publishing Company

KNPC has issued $11.5B in contracts to build a fourth refinery at the Al-Zour   complex (left). Enterprise Product Partners is in the final stages of completing   a 30-in. LPG pipeline from its gas processing complex in Mont Belvieu, Texas   to the export terminal at the Houston Ship Channel (center). Construction work   is underway at Cheniere’s Sabine Pass LNG terminal (right). Economic fundamentals are in place for sustained downstream E&C growth—until the next major disruption in crude oil or natural gas markets. The decline in crude oil prices since mid-2014 has improved refining margins across the world. Furthermore, sustained low natural gas prices in the U

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