April 2022

Trends and Resources

Industry Perspectives: 1Q project announcements this year down vs. 1Q 2021

New capital project announcements are down 27% in 1Q 2022 vs. 1Q 2021.

Nichols, Lee, Hydrocarbon Processing Staff

New capital project announcements are down 27% in 1Q 2022 vs. 1Q 2021. Gulf Energy Information’s Global Energy Infrastructure database counted 48 new project announcements in 1Q 2021. This year, 1Q capital project announcements globally have dropped to 35. Where are these projects? Most new capital projects this year are in the Asia-Pacific region, which accounted for 46% market share in new project announcements. This is an increase of 11% vs. 1Q 2021. Most new project announcements in Asia are petrochemical capacity additions in China and India. These two nations are investing heavily in new petrochemical capacity to satisfy future demand. The Asia-Pacific also accounts for the largest

Log in to view this article.

Not Yet A Subscriber? Here are Your Options.

1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Hydrocarbon Processing magazine.

2) SUBSCRIBE to Hydrocarbon Processing magazine in print or digital format and gain ACCESS to the current issue as well as to 3 articles from the HP archives per month. $409 for an annual subscription*.

3) Start a FULL ACCESS PLAN SUBSCRIPTION and regain ACCESS to this article, the current issue, all past issues in the HP Archive, the HP Process Handbooks, HP Market Data, and more. $1,995 for an annual subscription.  For information about group rates or multi-year terms, contact email Peter Ramsay or call +44 20 3409 2240*.

*Access will be granted the next business day.

Related Articles

From the Archive

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}