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India in top 5 nations for oil pipeline development
According to an analysis by non-profit Global Energy Monitor, India is one of the top five countries for developing oil pipelines, with 1,630 km of pipelines currently under construction, ranking second globally. The analysis also showed India securing the 10th spot for proposed pipelines, with 1,194 km in length.
The United States, Iraq, Iran and Tanzania are the other top countries for pipelines under construction and proposed. Globally, there are 9,100 km of pipelines under construction and 21,900 km proposed, costing an estimated $131.9 billion in capital expenditure. Of the 31,000 km of oil pipelines under development globally, 49% are in Africa and the Middle East, costing around $25.3 billion.
The top five companies developing oil pipelines include Iran’s Ministry of Petroleum, the China National Petroleum Corporation, Iraq’s Ministry of Oil, India’s Numaligarh Refinery and France’s TotalEnergies. While the infrastructure is costly, it will leave stranded assets as the world moves towards cleaner energy. The solution is to invest in reliable, low-carbon energy systems and transmission networks instead.
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