The energy boom that’s keeping Houston’s economy as hot as its summers also is warming up the industry around the world, according to a new report from London.
The Energy Industries Council, a 70-year-old global trade association, says companies across the international energy supply chain announced 386 new projects in the second quarter with an estimated total value of $342.1 billion.
A few more projects were announced during the same period in 2012, but their estimated total value was 19 percent less at $277.8 billion, according to the council’s tally.
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The trade group said in a news release this week that its quarterly EIC Monitor tracks almost 10,000 projects proposed or under way. It cautioned that newly announced projects may not have financing or regulatory approval.
The second-quarter breakdown by sector, with percent change over the April-June period of 2012:
Oil and gas upstream: $48.8 billion, up 50 percent.
Oil and gas midstream: $88.3 billion, up 173 percent.
Oil and gas downstream: $104.3 billion, up 70 percent.
Renewables: $62.2 billion, up 12 percent.
Nuclear and conventional electric power: $38.5 billion, down 60 percent.
“Performance in the midstream and downstream sectors has been particularly impressive as the growing level of natural gas recovery worldwide is fuelling a rise in (liquefied natural gas), petrochemical and associated pipeline projects,” the trade group’s interim CEO, Claire Miller, said in the news release.