Saudi Arabia, US and Russia to play key role in gas processing industry: report

Saudi Arabia ranks third highest country globally, after US and Russia respectively, in terms of gas processing capacity growth, according to a report by London-based data and analytics firm GlobalData.

The Kingdom is expected to add new-build gas processing capacity of 7.8 billion cubic feet per day (bcfd) between 2019 and 2023, the report noted, adding that the Tanajib gas processing plant is the largest upcoming plant in Saudi Arabia with a new-build gas processing capacity of 2.8 bcfd by 2023.

Globally, the report said, gas processing industry is expected to grow by 12 percent over the next four years from the current 586.2 billion cubic feet per day (bcfd) in 2019 to around 657.4 bcfd in by 2023.

Among regions, the Middle East and North America lead in terms of new-build gas processing capacity additions by 2023, , the report maintained.

Among countries, the US is expected to add highest new-build capacity of around 16.9 bcfd by 2023.

“The US is expected to drive new-build gas processing capacity growth in the global gas processing industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 24 percent of global gas processing capacity growth by 2023,” the report by GlobalData added.

GlobalData identifies Russia as the second highest country globally in terms of gas processing capacity growth, adding a new-build gas processing capacity of 13.1 bcfd by 2023.