Technavio’s latest report on the global
natural gas pipeline market provides an analysis on
the most important trends expected to impact the market outlook from
2016-2020. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
Thanikachalam Chandrasekaran, lead analyst from Technavio, specializing
in research on oil
and gas sector, says, “The global natural gas pipeline market
is cyclical in nature and is experiencing a phase marked by low prices.
However, the investments in the global natural gas pipeline market are
not affected by short-term natural gas price fluctuations and conform to
the larger market cycles.”
The market is expected to be driven by factors such as shift in
the exploration base of natural gas supplies and increasing
collaboration between various nations worldwide. These key drivers of
the market are projected to be in line with the ongoing trend of
securing unconventional reserve assets in the oil and gas industry.
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The top three emerging trends driving the global natural gas pipeline
market according to Technavio energy
research analysts are:
-
Increase in multinational joint development agreements
-
Growth in deepwater and ultra-deepwater encounters
-
Role of advanced analytics
Increase in multinational joint development agreements
The presence of the natural gas reserve base and the downstream consumer
markets might have varied degrees of geographical proximities within
them. The basic role of the pipeline transportation
sector is to act as a bridge between these and facilitate the
monetization of the resources. As the geographical markets have no
defined boundaries, there are high probabilities of the existence of
these source-market relationships to extend beyond traditional
international borders. In the past few decades of development, these
cross-border issues have caused several delays and questioned the entire
concept of a particular pipeline system.
The factors that actually direct the planning, construction, and
operation of these multinational pipelines are driven by forces outside
the normal market demand-supply equilibrium. With the presence of two or
more nations in the picture, it is very difficult to arrive at terms of
negotiations as every participant has its own development in mind. There
have been historical cases wherein the past conflicts between two
participating nations have actually led multi-billion-dollar pipeline
projects being shelved.
Growth in deepwater and ultra-deepwater encounters
The primary function of pipelines is to transport natural gas from the
source of extraction to the markets, where it is refined to derive the
valuable components out it. Therefore, any change to the dynamics of the
natural gas being transported by the pipelines is of supreme importance
for the industry. There are a few changes that are emerging out of the
current day natural gas pipeline market. One of the most significant of
these trends in the rise in deepwater and ultra-deepwater
operations.
“With the conventional avenues of oil and gas reserves already seeing
a certain end, the dependence of the global economy on fossil fuels is
pushing the upstream oil and gas sector to the geographical ends of the
world,” adds Thanikachalam.
Role of advanced analytics
Internet
of Things (IoT) in the oil pipeline industry links assets,
people, products, and services to rationalize the flow of data, makes
real-time choices, and improves asset performance, process, and product
quality. Thus, the technology empowers people and creates new
opportunities in the industry. Major oil pipeline players have already
started designing strategies integrated with IoT. The technology allows
machines to provide detailed diagnostics and data while sharing
information about processes in real time.
The key vendors are:
-
ABB
-
BP
-
Enterprise Product Partners
-
GE Oil & Gas
-
Saipem
-
Technip
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Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
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obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
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