The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% 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.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest pipeline construction projects initiated globally in Q3 2024, according to GlobalData’s construction projects database.
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1. Oleoducto Vaca Muerta Sur
The project involves the laying of a 700km oil pipeline with a 60,000M3/day transport capacity, equivalent to 372,000BPD between Añelo Municipality in Neuquén province, at the port of Punta Colorada in Río Negro Province, Argentina.
Construction work started in Q3 2024 and is expected to be completed in Q4 2033.
The project’s main objective is to increase the oil transportation capacity and meet the growing demand in the region.
2. Virginia Reliability Project
The project involves the expansion of a 77km long gas pipeline in Virginia, the US.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2025.
The project aims to enhance energy reliability and affordability in Virginia’s Hampton Roads region generate over $500 million in economic value and create 3,500 jobs in the state.
3. Midwest Gas Pipeline Expansion
The project involves the expansion of a 300km gas pipeline in Minas Gerais, Brazil.
Construction work started in Q3 2024 and is forecast to complete in Q1 2026.
The objective of the project is to supply the natural gas in the state of Minas Gerais. Buy the profile here.
4. Transco Texas-Louisiana Gas Pipeline Expansion
The project involves the expansion of Transcontinental Gas Pipeline (Transco) to deliver 180,000 Dekatherms per day of additional natural gas in Texas and Louisiana, the US.
Construction work commenced in Q3 2024 and is expected to be completed in Q1 2025.
5. Wezerow-Przewoz Gas Pipeline
The project involves the construction of a 44km Wezerow – Przewoz Gas Pipeline 0.7m diameter steel pipe from Krakow to Lower Silesian, Poland.
Construction work started in Q3 2024 and is expected to be completed in Q2 2026.
For more details on the latest construction projects, buy the profiles here.
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