The U.S. and Canada will need to spend $546 billion on midstream infrastructure to transport natural gas, crude oil and NGLs between 2015 and 2035, according to a new report by the International Natural Gas Association of America (INGAA). INGAA said natural gas makes up over 60% of the needed energy infrastructure over that time period, for a total of between $290 billion and $376 billion. The new report revises downward a 2014 estimate due to lower commodity prices.
Between $137 billion and $190 billion in crude oil infrastructure will be needed over the next 20 years, and between $43 billion and $55 billion in NGL infrastructure will be required.
Investments in pipelines will range from $183 billion to $282 billion. INGAA included an incremental investment of $24 billion for integrity management and NOx control in its estimate.
INGAA estimates the midstream investment projected will add between $655 billion and $861 billion in value to the U.S. and Canadian economies and employ between 323,000 and 425,000 workers per year.
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