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Tuesday, September 2, 2014

Valve Market in Oil and Gas Will Near $10 Billion in 2014

In 2014, the oil and gas industry will spend just under $10 billion globally for valves, according to McIlvaine Co.’s Valves: World Markets report.

The largest purchases will be ball valves, which will account for 30 percent of all valve spend, at just above $3 billion. Gate valves will account for $1.8 billion of the revenues. The rest of the global market consists of globe valves ($1.2 billion), followed by butterfly valves, check valves, and safety relief valves.

globe-valveOne major use of gate valves is at the wellhead, in an assembly known as the Christmas Tree. Valve functions include directing oil and gas from the well to further processing, shutting down the well, and injection of various chemicals for well stimulation or enhanced oil recovery. Check valves are also used for this service.

Pipeline applications include periodically spaced isolation valves for segmenting the pipeline in the event of a leak or the need for other service. These valves are typically full-ported gate or ball valves, which provide low pressure drop when fully open, tight shutoff when closed, and full porting to permit pipeline pigging.

The total investment for a 200,000 cu-ft/day gas processing plant would be $150 million and would require an expenditure of $5 million for valves. Twenty percent would be for control and 80 percent would be for on/off.

A liquefied natural gas (LNG) liquefaction plant can cost $8.3 billion. The valve portion would be 1 percent, or $83 million. There are a number of liquefaction projects underway in the U.S. due to the abundance of shale gas.

More on the McIlvaine report Valves: World Markets can be found here.


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