Oil and gas industry to spend over $10B for valves in 2015, finds study

Sponsored by


Feb. 5, 2014 -- According to Industrial Valves: World Markets published by the McIlvaine Company, the upstream oil and gas industry will spend for the first time more than $10 billion for valves in a single year.

In 2015, the expenditure is predicted to be $10.3 billion, which includes valves purchased for oil and gas extraction. Further, it includes those used in unconventional extraction such as from subsea shale and oil sands. The forecast also includes valves used in LNG and gas-to-liquids plants. The shale gas boom is resulting in LNG and gas-to-liquid plant construction, and large numbers of valves are required to operate these plants.

Revenue values include valve and valve actuator when actuator is supplied with valve by valve manufacturer. (Photo credit: McIlvaine)


The Middle East remains the historic leader, but NAFTA will be a close second. The U.S. shale gas and oil expansion and the Canadian tar sands investments are providing substantial valve markets; these forecasts do not include refineries. However, the lower-quality crudes being extracted in NAFTA are spurring investments in refinery valves due to upgrades.

A larger percentage of the valve spend is now directed at control of water and wastewater. Hydraulic fracturing requires extensive valving -- up to 30 chemicals along with sand are mixed with water prior to injection. Likewise, the flowback water in many states cannot be discharged into underground storage because t is too contaminated to be treated by conventional sewage treatment plants. The result is a significant treatment investment.

###

Sponsored by

TODAY'S HEADLINES

Research reveals dramatic growth of global hydropower expected this decade

Based on new statistics, an unprecedented boom in global hydropower dam construction is underway, primarily in developing countries and emerging economies.

DOD, NIH awards Cambrian prestigious contracts to further develop advanced biotechnologies

Cambrian Innovation recently won a prestigious contract from the Department of Defense and another two from the National Institutes of Health to further develop biotechnologies to dramatically improve water treatment, testing and remediation.

MWH Global promotes nearly a dozen employees to VP positions

MWH Global has officially announced the promotion of three employees to senior vice president and eight others to vice president. The promotions were confirmed by the MWH board of directors at its August board meeting.

Online Zeta Potential Measurement Provides Water Treatment Control, Cost Reduction

Online zeta potential measurements can provide real-time water quality monitoring and support effective process control under all circumstances. The value of online measurement is illustrated through the experiences of Aurora Water, which is using zeta potential at one facility as both an offline and online tool for monitoring and controlling water treatment processes.

FOLLOW US ON SOCIAL MEDIA