Gazprom and Sinopec to be Top Spenders Across Oil and Gas Value Chain with Capex Totalling up to US$259.1bn by 2025, says GlobalData

Gazprom and China Petrochemical Corp (Sinopec) are the top spenders among global oil and gas companies, in terms of new build capital expenditure (capex) to be spent on planned and announced projects across the oil and gas value chain during 2018–2025, according to leading data and analytics company GlobalData.

The company’s report: ‘H2 2018 Top Global Oil and Gas Companies Planned Projects and Capital Expenditure Outlook – Gazprom and Sinopec Spend High across Oil and Gas Value Chain’ found that Gazprom leads with an estimated capex of US$170.2bn expected to be spent on 93 oil and gas projects globally. Sinopec and Royal Dutch Shell Plc (Shell) follow with capex of US$88.9bn (69 projects) and US$84.5bn (107 projects), respectively.

In the upstream sector, Shell leads among companies with an estimated capex of US$60.6bn to be spent on 58 planned and announced production fields globally. Gazprom follows with US$43.6bn to be spent on 28 upstream projects and Exxon Mobil will be in third position with US$42.2bn to be spent on 34 projects.

Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments: “Gazprom’s planned and announced projects portfolio is mainly focused on gas pipelines, upstream gas projects, and gas processing plants. This will help the company to ensure an uninterrupted supply of gas to Europe and foray in to new markets in Asia.”