Update | market
Energy demand drives pipeline growth
The global market for steel pipe coating was worth around €5.5bn in 2012, with oil and gas pipelines accounting for the greatest part of this value. On the face of it, this may be interpreted as overdependence on one particular market. Strategically speaking, then, it could be asked if that overdependence is a signifi cant risk for the pipeline coating industry? Crude oil and natural gas are primarily used as sources of energy. But will the world need more energy in the long run? We hear every day about efforts to reduce the consumption of energy. So it is reasonable to ask whether the world will use
less, rather than more, energy in the future? And whether that energy will come from oil and gas? After all, the trend appears to be one of moving away from fossil fuels and towards sustainable sources of energy. Finally, even if the world continues to use oil and gas to produce energy, does that mean that more pipelines will need to be built? Mankind has been building oil and gas pipelines for decades now. Are there enough already?
This article will focus attention on each of these
questions and attempt to provide answers based on facts, rather than impressions. Firstly, will the world need more energy? As the price of energy increases and the environmental issues
Growing global energy demand and the ever changing dynamic of the Oil & Gas industry makes for an
optimistic future for the pipeline industry, writes Noru Tsalic
receive more attention, numerous efforts are being made to reduce the consumption of energy in every fi eld of human activity. This has been going on for many years now and is certainly likely to continue. Yet an analysis of the energy demand shows that consumption has increased, not decreased. This is because, while on one hand mankind is attempting to reduce consump- tion, on the other hand economic growth increases the demand for energy (Figure 1). In fact, it can be shown that there is an excellent correlation between the two (Figure 2). This should of course be obvious: economic activities are ultimately about creating value; and it is impossible (the laws of nature preclude it) to create things without using energy in the process. Economic growth is a must, of course, if mankind is to progress and prosper. In fact, if anything, faster
May 2013 | PIPELINE COATING 11
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