DUBLIN–(BUSINESS WIRE)–The “Russia Oil and Gas EPC Market – Growth, Trends, and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The Russian oil and gas EPC market is expected to grow at a CAGR of less than 1% during 2020-2025.
Factors such as IMO regulation and global efforts to reduce the use of coal for power generation, the demand for natural gas and low sulfur fuel is expected to increase. This factor, in turn, is expected to promulgate the increasing EPC contracts across the midstream and the downstream sectors. However, United States sanctions and restrictions on collaboration with Russia is likely to affect the country’s oil and gas EPC market.
The midstream segment dominated the market during 2019, due to heavy investments in building LNG infrastructure and gas transport pipelines.
Shift of the EP sector toward offshore deep and ultradeep areas is expected to be the major opportunity for the Russian oil and gas EPC market. Russia has been actively producing oil and gas from the Arctic shelf for quite some time, but with a decline in onshore hydrocarbon production, the national oil companies have no choice but to shift to complex and technologically challenging offshore deep-water and ultradeep water fields.
Increasing investments in the petrochemical industry is expected to drive the market. Russia is planning to launch a raft of new projects over the next few years, aiming to utilize the potentials of the downstream sector and its rapid growth.
Key Market Trends
Midstream Segment to Dominate the Market
Oil and gas pipelines, storage, and LNG and RLNG facilities are the major midstream infrastructures that require EPC services. The growing oil and gas production and export, and aging pipeline infrastructure drive the demand for new midstream infrastructure.
Increasing Investments in Petrochemical Industry to Drive the Market
In the latest world energy outlook, BP forecasted that the global crude oil and condensate demand may rise by less than 3 million barrel per day between 2019 and 2040, due to the increasing growth rate in the use of electric vehicles, among other factors. Hence, like other hydrocarbon-focused economies, Russia is also looking to push into petrochemical amid uncertain prospects for global crude oil demand.
The Russian oil and gas EPC market is fragmented, and it is dominated by companies, such as Technip FMC, Hyundai Heavy Industries Co. Ltd, Saipem SpA, and McDermott International Inc., among others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Saipem SpA
6.3.2 McDermott International Inc.
6.3.3 TechnipFMC PLC
6.3.4 Petrofac Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/cdw8zq