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Released April 15, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--When will things get better for the global energy markets? Not soon, and industry players might as well stop distracting themselves with the question. Even before the COVID-19 outbreak, an international price war sent oil-import prices to their lowest level in three years; with stay-at-home orders now obliterating energy demand, markets are likely to emerge from the chaos with new norms. Industrial Info is tracking more than $500 billion in active projects worldwide that have been delayed or otherwise affected by COVID-19, including about $143 billion worth in the U.S.
Click here for a global list of affected projects.
Click on the image at right for a graph detailing global projects to be affected by COVID-19, by industry.
One of the highest-valued projects to be directly affected by COVID-19 is Southern Company's (NYSE:SO) (Atlanta, Georgia) estimated $27.5 billion two-unit expansion at the Alvin W. Vogtle Nuclear Power Station in Waynesboro, Georgia, which is expected to nearly double the generating capacity of the 2,300-megawatt (MW) plant. Georgia Power, a subsidiary of Southern, reported an outbreak of COVID cases among Vogtle employees over the past week, with 28 testing positive and 122 testing negative.
According to The Augusta Chronicle, construction at Vogtle is continuing with new, enhanced protocols to reduce worker-to-worker contact and keep frequented areas cleaned and sanitized. For more information, see Industrial Info's project report.
The Oil & Gas Pipeline Industry also is feeling the heat from the ongoing effects of COVID-19, with oil prices remaining low and demand crashing as most Americans stay home from work. EPIC Midstream Holdings LP (San Antonio, Texas) is pushing back the startup date for at least three phases of its EPIC Crude Oil Pipeline, which will carry 600,000 barrels per day (BBL/d) from the Permian Basin to the company's export terminal near Corpus Christi, on the Texas Gulf Coast: the $350 million spreads 1 and 3, running 235 miles; the $375 million Spread 2, running 215 miles; and the $450 million spreads 4 and 5, running 280 miles.
Startup of the five spreads already had been delayed from March to April, but has now been pushed back to May. The pipeline is expected to source oil from origin points in the Permian and Eagle Ford shale plays, and the company expects its capacity will expand to 900,000 BBL/d in the future. For more information, see Industrial Info's project reports on spreads 1 and 3, Spread 2 and spreads 4 and 5.
Natural gas also is taking a hit from market conditions. Two East Coast power-generation projects are among the latest to face delays: NTE Energy's (Saint Augustine, Florida) estimated $700 million Killingly Energy Center in Windham, Connecticut, and Duke Energy Corporation's (NYSE:DUK) (Charlotte, North Carolina) $180 million conversion of four units at the Marshall Power Station in Terrell, North Carolina, from coal- to gas-burning. The 600-MW, combined-cycle Killingly plant had been set to kick off in May, but will not begin until November; completion of the Marshall conversion is not expected until next March. For more information, see Industrial Info's reports on the Killingly and Marshall projects.
Many renewable-generation projects have been affected, even those seemingly on the cusp of completion. 174 Power Global Corporation, a subsidiary of Hanwha Group (Seoul, South Korea), had finished construction on its $200 million Oberon Solar Plant in Odessa, Texas, and was ready to connect it to the grid in late March; however, the connection has been postponed until May 1 at the earliest. The facility is expected to generate 150 MW from photovoltaic (PV) solar modules. For more information, see Industrial Info's project report.
Facebook Incorporated (NASDAQ:FB) (Menlo Park, California) is continuing to delay data-center construction projects. The tech giant is adding the $275 million Phase V expansion of its data center in Altoona, Iowa, which kicked off in early 2018 and was set to wrap up in May, to the list. The 1 million-square-foot facility will not finish construction until September at the earliest. For more information, see Industrial Info's project report and April 3, 2020, article - Phillips 66, Shell, Toyota, Facebook, Microsoft Add to List of Projects Delayed by COVID-19.
Rio Tinto plc (NYSE:RIO) (London, England) is one of many heavyweights in the global Metals & Minerals Industry to see its projects delayed, one of the most recent being a $1.5 billion overhaul of its copper mine in Bingham Canyon, Utah. The project, which had been set to kick off in July, involves pushing back and deepening the 400,000-ton-per-day, open-pit mine's South Wall and performing upgrades and revamps to extract an additional 1 million tons of refined copper. It is expected to extend the mine life from 2027 to 2032, and is now slated to kick off in October. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Click here for a global list of affected projects.
Click on the image at right for a graph detailing global projects to be affected by COVID-19, by industry.One of the highest-valued projects to be directly affected by COVID-19 is Southern Company's (NYSE:SO) (Atlanta, Georgia) estimated $27.5 billion two-unit expansion at the Alvin W. Vogtle Nuclear Power Station in Waynesboro, Georgia, which is expected to nearly double the generating capacity of the 2,300-megawatt (MW) plant. Georgia Power, a subsidiary of Southern, reported an outbreak of COVID cases among Vogtle employees over the past week, with 28 testing positive and 122 testing negative.
According to The Augusta Chronicle, construction at Vogtle is continuing with new, enhanced protocols to reduce worker-to-worker contact and keep frequented areas cleaned and sanitized. For more information, see Industrial Info's project report.
The Oil & Gas Pipeline Industry also is feeling the heat from the ongoing effects of COVID-19, with oil prices remaining low and demand crashing as most Americans stay home from work. EPIC Midstream Holdings LP (San Antonio, Texas) is pushing back the startup date for at least three phases of its EPIC Crude Oil Pipeline, which will carry 600,000 barrels per day (BBL/d) from the Permian Basin to the company's export terminal near Corpus Christi, on the Texas Gulf Coast: the $350 million spreads 1 and 3, running 235 miles; the $375 million Spread 2, running 215 miles; and the $450 million spreads 4 and 5, running 280 miles.
Startup of the five spreads already had been delayed from March to April, but has now been pushed back to May. The pipeline is expected to source oil from origin points in the Permian and Eagle Ford shale plays, and the company expects its capacity will expand to 900,000 BBL/d in the future. For more information, see Industrial Info's project reports on spreads 1 and 3, Spread 2 and spreads 4 and 5.
Natural gas also is taking a hit from market conditions. Two East Coast power-generation projects are among the latest to face delays: NTE Energy's (Saint Augustine, Florida) estimated $700 million Killingly Energy Center in Windham, Connecticut, and Duke Energy Corporation's (NYSE:DUK) (Charlotte, North Carolina) $180 million conversion of four units at the Marshall Power Station in Terrell, North Carolina, from coal- to gas-burning. The 600-MW, combined-cycle Killingly plant had been set to kick off in May, but will not begin until November; completion of the Marshall conversion is not expected until next March. For more information, see Industrial Info's reports on the Killingly and Marshall projects.
Many renewable-generation projects have been affected, even those seemingly on the cusp of completion. 174 Power Global Corporation, a subsidiary of Hanwha Group (Seoul, South Korea), had finished construction on its $200 million Oberon Solar Plant in Odessa, Texas, and was ready to connect it to the grid in late March; however, the connection has been postponed until May 1 at the earliest. The facility is expected to generate 150 MW from photovoltaic (PV) solar modules. For more information, see Industrial Info's project report.
Facebook Incorporated (NASDAQ:FB) (Menlo Park, California) is continuing to delay data-center construction projects. The tech giant is adding the $275 million Phase V expansion of its data center in Altoona, Iowa, which kicked off in early 2018 and was set to wrap up in May, to the list. The 1 million-square-foot facility will not finish construction until September at the earliest. For more information, see Industrial Info's project report and April 3, 2020, article - Phillips 66, Shell, Toyota, Facebook, Microsoft Add to List of Projects Delayed by COVID-19.
Rio Tinto plc (NYSE:RIO) (London, England) is one of many heavyweights in the global Metals & Minerals Industry to see its projects delayed, one of the most recent being a $1.5 billion overhaul of its copper mine in Bingham Canyon, Utah. The project, which had been set to kick off in July, involves pushing back and deepening the 400,000-ton-per-day, open-pit mine's South Wall and performing upgrades and revamps to extract an additional 1 million tons of refined copper. It is expected to extend the mine life from 2027 to 2032, and is now slated to kick off in October. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
