Underground Construction - November 2021 - 19
that the global economy is recovering
from the shock of the pandemic and
that gas is continuing to replace more
emissions-intensive fuels, " said Keisuke
Sadamori, IEA director of Energy
Markets and Security.
Pipeline construction spending
Total worldwide capital spending on
pipeline installations is projected to
increase about 10 percent this year after
plunging nearly 30 percent in 2020,
according to Westwood Global Energy
Group, with North America, Asia, Eastern
Europe and the former Soviet states
accounting for about three-quarters of
all capex for new pipeline construction
in its 2021-2025 forecast period.
" Improving sentiment and outlook
for commodity prices is expected to help
projects progress through to completion, as
well as boost demand for new installations
in regions, where increases in production
capacity will require new pipeline
infrastructure, " Westwood predicts.
A recent report by investment firm
Morgan Stanley highlighted the spike in
LNG demand as yet another indication
of economic recovery and future
infrastructure demand.
Longer term, Morgan Stanley said it
continues to see an upcycle for global LNG
markets through 2025, with demand set
to grow at two times the rate of supply,
" leading to a capacity shortfall by 2023. "
This could prove to be a positive trend for
related construction in the United States
and other LNG-exporting nations.
Growing demand for LNG and
related natural gas infrastructure is
a key driver of current and planned
pipeline construction worldwide. Gas
infrastructure accounts for 66 percent
of projected new pipeline installations
through 2025, Westwood said, while
joining others in warning of ongoing
downside risk to their forecasts.
" Chief among these are geopolitics,
focus on climate change and the
increasing momentum of the energy
transition particularly in the Western
hemisphere, " it said. A reluctance among
some lenders to finance fossil fuel projects
may add additional risk.
UCONonline.com | NOVEMBER 2021
19
http://www.UCONonline.com
Underground Construction - November 2021
Table of Contents for the Digital Edition of Underground Construction - November 2021
Contents
Underground Construction - November 2021 - Cover1
Underground Construction - November 2021 - Cover2
Underground Construction - November 2021 - Contents
Underground Construction - November 2021 - 4
Underground Construction - November 2021 - 5
Underground Construction - November 2021 - 6
Underground Construction - November 2021 - 7
Underground Construction - November 2021 - 8
Underground Construction - November 2021 - 9
Underground Construction - November 2021 - 10
Underground Construction - November 2021 - 11
Underground Construction - November 2021 - 12
Underground Construction - November 2021 - 13
Underground Construction - November 2021 - 14
Underground Construction - November 2021 - 15
Underground Construction - November 2021 - 16
Underground Construction - November 2021 - 17
Underground Construction - November 2021 - 18
Underground Construction - November 2021 - 19
Underground Construction - November 2021 - 20
Underground Construction - November 2021 - 21
Underground Construction - November 2021 - 22
Underground Construction - November 2021 - 23
Underground Construction - November 2021 - 24
Underground Construction - November 2021 - 25
Underground Construction - November 2021 - 26
Underground Construction - November 2021 - 27
Underground Construction - November 2021 - 28
Underground Construction - November 2021 - 29
Underground Construction - November 2021 - 30
Underground Construction - November 2021 - 31
Underground Construction - November 2021 - 32
Underground Construction - November 2021 - 33
Underground Construction - November 2021 - 34
Underground Construction - November 2021 - 35
Underground Construction - November 2021 - 36
Underground Construction - November 2021 - 37
Underground Construction - November 2021 - 38
Underground Construction - November 2021 - 39
Underground Construction - November 2021 - 40
Underground Construction - November 2021 - 41
Underground Construction - November 2021 - 42
Underground Construction - November 2021 - 43
Underground Construction - November 2021 - 44
Underground Construction - November 2021 - 45
Underground Construction - November 2021 - 46
Underground Construction - November 2021 - 47
Underground Construction - November 2021 - 48
Underground Construction - November 2021 - 49
Underground Construction - November 2021 - 50
Underground Construction - November 2021 - Cover3
Underground Construction - November 2021 - Cover4
Underground Construction - November 2021 - UCT1
Underground Construction - November 2021 - UCT2
Underground Construction - November 2021 - UCT3
Underground Construction - November 2021 - UCT4
Underground Construction - November 2021 - UCT5
Underground Construction - November 2021 - UCT6
Underground Construction - November 2021 - UCT7
Underground Construction - November 2021 - UCT8
Underground Construction - November 2021 - UCT9
Underground Construction - November 2021 - UCT10
Underground Construction - November 2021 - UCT11
Underground Construction - November 2021 - UCT12
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