Search and Filter Through Our Comprehensive Database of Oil Storage Tank Projects and Tenders in North America Region
Identify and track latest oil storage tank projects (upcoming, ongoing/under-construction, completed), tenders, and contract awards. Our extensive database and user-friendly interface make it easy for you to find the right business opportunity in North America Region.
North America Region Oil Storage Tank Industry Analysis
The North American crude oil, gas, and petroleum products storage and handling terminals/facilities industry is an essential part of the energy sector. In this in-depth analysis, we will discuss the current scenario, new projects, major drivers, and industry outlook, with engaging local references to provide an authentic and contextually relevant understanding of the market.
Current Scenario
North America's crude oil, gas, and petroleum products storage and handling terminals/facilities industry has witnessed a steady growth over the past few years. The United States, being the largest producer of oil and natural gas, is home to some of the most extensive storage and handling facilities in the region. Major storage and handling terminals can be found in strategic locations, such as Cushing, Oklahoma, which is often referred to as the "Pipeline Crossroads of the World."
In Canada, the oil sands in Alberta contribute significantly to the industry, with storage facilities like Hardisty serving as a major hub. Mexico, although a smaller player, also contributes to the industry with its terminals and facilities, particularly in the Gulf of Mexico region.
New Projects
Several new projects are in the pipeline, which will expand the storage and handling capacity across North America. Some notable ones include:
Jupiter MLP's crude oil storage and export terminal project in Brownsville, Texas: This project aims to develop a storage capacity of up to 6.2 million barrels, with an export capacity of 1 million barrels per day.
Energy Transfer's Nederland terminal expansion in Texas: The project includes the addition of 6 million barrels of crude oil storage capacity, enhancing the terminal's ability to serve the expanding Permian Basin production.
Gibson Energy's Hardisty Terminal expansion in Alberta, Canada: This project will add 1 million barrels of storage capacity to the existing terminal, catering to the growing demand from the Canadian oil sands.
Major Drivers
The North American crude oil, gas, and petroleum products storage and handling terminals/facilities industry is driven by several key factors:
Production growth: The growing production of oil and natural gas in the United States, particularly from shale plays, and the oil sands in Canada, drives the need for increased storage and handling capacity.
Export demand: The lifting of the US crude oil export ban in 2015 and the growing global demand for energy products have led to increased export activity, necessitating the expansion of storage and handling facilities near key export terminals.
Infrastructure development: The construction of new pipelines and the expansion of existing ones contribute to the growth of storage and handling facilities as they connect producing regions with key market hubs and export facilities.
Industry Outlook
The outlook for the North American crude oil, gas, and petroleum products storage and handling terminals/facilities industry remains positive. As production and export activities continue to grow, the demand for storage and handling capacity will keep rising, driving investments in new projects and expansions. Additionally, the ongoing push for energy security and the strategic importance of having a robust storage and handling infrastructure make this industry a crucial component of the North American energy landscape.
In conclusion, the North American crude oil, gas, and petroleum products storage and handling terminals/facilities industry plays a vital role in the region's energy sector. With new projects in the pipeline and strong drivers supporting growth, the future outlook for the industry is promising.
Looking for a List of Oil Storage Tank Projects in North America Region?
Are you searching for oil storage tank projects and tenders in North America Region?
We have compiled the most comprehensive and up-to-date database of global projects and tenders to quickly find opportunities needing your services.
Blackridge Research's Global Project and Tender database is a valuable resource for EPC companies, general contractors, subcontractors, manufacturers, suppliers, operation & maintenance (O&M) companies, investors, consulting companies, and law firms looking for new business opportunities.
Our database includes all the essential project details, contact information of project owners and stakeholders, making it easy for you to establish your connection and grow your business.