Over $720 billion in works for natural gas pipeline projects across the globe
(UI) – Reuters reported that almost every “major region” is focusing on developing natural gas generation infrastructure. Over $720 billion is in the works to build gas pipelines across the globe. $190 billion is being allocated to liquified natural gas (LNG) facilities, Reuters said, citing Global Energy Monitor.
According to Reuters, most natural gas pipelines are “heavily concentrated” in the western world, with over 60% of infrastructure located in North America and Europe. However, Asia, Africa, and Latin America, in addition to North America and Europe, have at least a 10% share in projects that are either planned or already under development.
Expenditure breakdown:
- North America: Over $106 billion in current or planned projects.
- East Asia: Approximately $102 billion in current or planned projects.
- South Asia, Sub-Saharan Africa, Eastern Europe: Over $70 billion each on current ot planned projects.
Currently, North America’s natural gas network includes over 400,000 km (250,000 miles) of pipeline. East Asia is projected to increase its pipeline network by over 50%, which is anticipated to increase natural gas users and expand the supply chain.
South Asia and Sub-Saharan Africa are projected to increase their pipeline network by 88% and a whopping 282%, respectively.
Despite a worldwide push to end fossil-fuel reliance, these investments solidify natural gas’ place in the energy mix “beyond 2023.”
This story was originally reported by Reuters.
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