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While the upturn in crude oil prices, recovering oil demand and a surge in natural gas development for power generation will drive pipeline construction globally in the next few years, development of new pipelines in North America will be relatively subdued, says the report by Westwood Global Energy Group analysts Ben Wilby and Arindam Das.
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Globally, pipelines planned and spending on pipeline construction is set to rise US$45 billion in 2021, 10 per cent more than 2020, but still lower than the near-US$60 billion spent in 2019, according to the London, U.K.-based consultancy.
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