The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2023, having grown by 3.9% in 2022. A key growth market will be the infrastructure market, with output rising by 11.9% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are Asia Pacific’s five largest oil and gas construction projects that were initiated in Q4 2023, according to GlobalData’s construction projects database.
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1. Bintulu Onshore Gas Processing Plant
The project involves the construction of a gas processing facilities with a capacity of 22,653,477 m3 of gas per day in Bintulu, Malaysia.
Construction work started in Q4 2023 and is expected to be completed in Q4 2025.
The project aims to supply up to 800 million standard cubic feet of gas daily to Petronas LNG Complex in Bintulu, Sarawak. The plant is planned to be developed near the Rosmari-Marjoram gas field. Buy the profile here.
2. Maoming Ethylene Production Facility Upgrading
The project involves the upgrade of a new ethylene production facilities in Maoming, Guangdong, China.
Construction work commenced in Q4 2023 and is expected to finish in Q1 2027.
The project aims to increase the production capacity of ethylene products in the region.
3. Ningbo Underground Oil Storage Facility
The project involves the construction of an underground oil storage facilities in Ningbo City, Zhejiang, China.
Construction work started in Q4 2023 and is forecast to complete in Q4 2026.
The project aims to provide a better storage facilities and a center for storing and distributing crude oil. Buy the profile here.
4. Bhavnagar CNG Terminal
The project involves the construction of a CNG terminal with a capacity of 1.5MTPA in Bhavnagar, Gujarat, India.
Construction work commenced in Q4 2023 and is expected to be completed in Q4 2026.
Upon completion, it will become the first CNG terminal in the world. Buy the profile here.
5. Krishnapatnam to Hyderabad Multi-Product Petroleum Pipeline
The project involves the construction of a 425km pipeline with a capacity of 2.6 Million Metric Tonnes Per Annum (MMTPA) to transport Petrol, diesel, domestic LPG, and jet fuel (ATF) from Krishnapatnam to Hyderabad in India.
Construction work started in Q4 2023 and is expected to be completed in Q4 2025.
It will play a pivotal role in meeting the escalating demand for petroleum products in the state of Telangana. Furthermore, it is poised to enhance socio-economic development in the districts through which the pipeline passes. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
