Australia is expected to see 118 oil and gas projects start operations across the value chain between 2021-2025, making up 6% of the total project starts in the Asia-Pacific (APAC) region, according to GlobalData.
Of these, new-build projects lead the upcoming projects count constituting around 74% of the total starts across the value chain, according to the data and analytics company.
GlobalData’s report, ‘Asia Pacific Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects’, reveals that of the 118 projects during the outlook period, upstream projects would be 53, midstream projects would be the highest with 56 projects and petrochemicals at nine.
“Australia is heavily focusing on natural gas production, transportation and export projects to reinforce its position as one of the leading global exporters of LNG. The investments also help the country to meet the growing gas demand in the country,” said Teja Pappoppula, Oil & Gas Analyst at GlobalData.
In the upstream sector, GlobalData expects 53 projects to start operations in Australia during 2021 to 2025. Natural gas projects dominate the upcoming projects count accounting for about 55% of the total projects. Some of the notable projects include Santos’ Barossa, a shallow water conventional gas field, presently in the construction stage and expected to start operations by 2025.
Midstream projects cover around 47% of all oil and gas projects in Australia by 2025. Pipeline projects account for the bulk of upcoming midstream projects with the Amadeus Basin–Moomba gas pipeline being one of the key projects with a length of 950 kilometres. The project is presently in FEED stage and is expected to start operations by 2024.
Among the upcoming petrochemical projects in Australia by 2025, Leigh Creek Energy Leigh Creek Urea Plant and Perdaman Chemicals and Fertilisers Karratha Urea Plant are the key petrochemical projects during this period, each with a capacity of 2.00 million tonnes per annum. Both the projects have been approved and are expected to start operations by 2024.
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