GlobalData: Gazprom Leads Capex Across Oil and Gas Value Chain with US$168.3bn in FSU from 2018-2025

Gazprom is the top spender among all oil and gas companies in the Former Soviet Union (FSU), 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: ‘Top Oil and Gas Companies Planned Projects and Capital Expenditure Outlook in the FSU – Gazprom Leads Capex across Oil and Gas Value Chain‘ reveals that Gazprom, Rosneft Oil Co, and Novatek are the top spenders among all oil and gas companies in the FSU, with US$168.3bn, US$34.6bn and US$34.2bn, respectively.

In the upstream sector, Gazprom leads among companies with capex of US$39.8bn to be spent on 17 planned and announced production fields in the FSU. Rosneft Oil Co will be the next top spender in the upstream sector with US$16.9bn spent on 19 fields and Novatek will be in third position with US$8.5bn to be spent on five fields.

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.”

GlobalData’s report found that Gazprom also leads the midstream segment–trunk pipelines, gas processing, liquefaction terminals, and gas storage segments with new build capex of US$62.8bn, US$33.0bn, US$25.9bn, and US$2.6bn respectively by 2025.

In the LNG regasification segment, Alexela Energia leads with US$308m, while in the liquids storage segment, Naftogaz of Ukraine leads with capex of US$167m, during the outlook period.

Rosneft Oil Co is expected to lead the downstream segment with new build capex of US$4.8bn on the development of two crude oil refineries in the FSU by 2025. China National Chemical Corp and Geopars follow with capex of US$2.3bn and US$2bn, respectively.

In the petrochemicals sector, Gazprom is expected to lead with capex of US$3.7bn to be spent on four upcoming petrochemical plants, followed by Rosneft Oil Co with US$3.3bn expected to be spent on eight new projects. Tianjin Bohai Chemical Industry Co Ltd is in third position with US$2.6bn expected to be spent on four upcoming projects.