Asia-Pacific is anticipated to witness the start of operations of 1,946 projects across the oil and gas value chain. Of these, 225 are upstream (fields) projects, midstream projects are at 521, downstream (refineries) projects are at 248, and the petrochemical projects are the highest at 952. In midstream, the trunk/transmission pipelines segment alone constitutes 36% of all projects followed by LNG and oil storage with 31% and 24% respectively.

New build projects drive the upcoming projects landscape in Asia-Pacific constituting 79% of the total projects across the oil and gas value chain. The share of new build projects is especially high in the petrochemicals sector accounting for 54% of the total new build projects across the value chain. On the other hand, the downstream sector has the highest number of expansion projects accounting for 41% of total expansion projects in the value chain. Among countries, China leads the upcoming projects landscape in Asia-Pacific accounting for 34% of the total projects expected to start operations by 2028.

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In Asia-Pacific, about 47% of the projects are in the construction and commissioning stages and are more likely to commence operations during the 2024–2028 outlook period. About 25% of the projects are in the early stages (Feasibility/FEED) and the rest have been approved or awaiting approval.

Further details of Asia-Pacific projects can be found in GlobalData’s new report, Asia-Pacific Oil and Gas Projects by Development Stage, Capacity, Capex, Contractor Details of All New Build and Expansion Projects to 2028.

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