|By Marketwired .||
|January 10, 2014 06:15 AM EST||
SUGAR LAND, TX -- (Marketwired) -- 01/10/14 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- More than $116 billion in industrial capital and maintenance projects are on the books to kick off in Texas and Louisiana in 2014, according to Industrial Info Resources' North American Project Database.
Texas accounts for about $70.9 billion of these planned projects, while Louisiana has about $45.7 billion in projects that are currently planned to break ground this year. Although many of these projects will be pushed out to future dates or canceled altogether, the two states are starting the year with a very high value of planned industrial construction starts.
As in 2013, the highest-value industries in regard to planned projects for the two states are Oil & Gas Production and Chemical Processing, which account for $47.35 billion and $31.64 billion in planned project value, respectively.
Not surprisingly, much of the value of the Oil & Gas Production projects comes from planned liquefied natural gas (LNG) production and export facilities, which require approval from the Federal Energy Regulatory Commission (FERC) to construct and operate, and the Department of Energy to export the LNG to countries without a free trade agreement with the United States.
LNG export facilities that could begin construction this year include Gulf Coast LNG Export LLC's $12 billion facility in the Port of Brownsville in Texas, and Sempra Energy (NYSE:SRE) subsidiary Cameron LNG LLC's $10 billion plant on the Louisiana Gulf Coast.
While blockbuster projects such of these take prominence in discussions of industrial project activity, hundreds of smaller projects are planned throughout the region, including more than 250 planned Chemical Industry maintenance turnarounds, contributing more than $1 billion in planned industrial spending for the year.
Industrial Info will be discussing these projects and other spending trends at our upcoming 2014 Market Outlook & Networking Event, which will be held January 29 at the Hilton Americas in Houston. Industrial Info's team of industry experts will be discussing spending activity and market trends in the U.S. and Canada, with special emphasis on the Southwest and U.S. Gulf Coast regions. Attending the event is free and will be followed by a networking session with complementary drinks and hors d'oeuvres that will give you a chance to ask questions of our presenters and mingle with your peers.
In addition to the Chemicals and Oil & Gas industries, other highlighted industries will include Petroleum Refining, Power Generation, and Metals & Minerals, as well as a top-line spending forecast for North America. Space is limited, so make sure to RSVP today!
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine 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. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.