Equinor ASA tops European projects investment list, says GlobalData

Source: press release, 31 October 2018

Capex spending by key companies on planned and announced projects across oil and gas value chain in Europe, 2018-2025 (illustration: GlobalData – Upstream, Midstream, Downstream, and Petrochemicals Analytics, GlobalData Oil and Gas)
Capex spending by key companies on planned and announced projects across oil and gas value chain in Europe, 2018-2025 (illustration: GlobalData – Upstream, Midstream, Downstream, and Petrochemicals Analytics, GlobalData Oil and Gas)

In Europe, Equinor ASA, Gaz-System SA, and Snam S.p.A. are the top three spenders among all oil and gas companies on new build capital expenditure (capex) for planned and announced projects across the oil and gas value chain by 2025, according to GlobalData, a data and analytics company.

GlobalData’s latest report, “Top Oil and Gas Companies Planned Projects and Capital Expenditure Outlook in Europe – Equinor Leads Capital Spending Across Oil and Gas Value Chain”, reveals that Equinor ASA tops the companies European spend list with an estimated capex of USD 12.4 billion expected to be spent on 24 projects. Gaz-System SA and Snam S.p.A. are the second and third biggest investors with USD 5.8 billion (30 projects) and USD 5.6 billion (25 projects), respectively. With Petoro AS in fourth position with USD 3.8 billion (7 projects) and Lundin Petroleum in fifth with USD 3.7 billion (3 projects).

Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments, “Whilst Equinor ASA leads in planned and announced projects, Falcione Energia S.R.L is the number one capex investor in European new build regasification, with an estimated USD 0.7 billion spend on the upcoming Eagle Floating regasification terminal in Albania.”

In the upstream sector, Equinor ASA has the highest new build capex commitment of USD 11.9 billion (21 projects) between 2018 and 2025.

Gaz-System SA will be the major spender in midstream sector, primarily focusing on oil and gas pipelines with a capex spend of USD 5.1 billion to bring 29 planned and announced projects online by 2025.

In the gas storage segment, Snam S.p.A. leads with estimated capex of USD 2.5 billion to be invested in 14 planned and announced gas storage terminals by 2025 and International BV will lead with capex of USD 0.7 billion expected to be spent on Maasvlakte, an upcoming liquids storage terminal in the Netherlands.

Grupa Azoty SA is expected to lead the petrochemicals sector to 2025 with a capex of USD 748 million during 2018–2025.

Grupa Lotos SA is at the forefront of gas processing with USD 1 billion allocated to the Baltic gas processing plant in Poland.

In terms of liquid storage, H.E.S. International BV is in the forefront with capex of USD 0.7 billion expected to be spent on an upcoming liquids storage terminal, Maasvlakte, in the Netherlands.