According to Gulf Energy Information’s Global Energy Infrastructure database, new project announcements have decreased by approximately 6% year-over-year.
According to Gulf Energy Information’s Global Energy Infrastructure database, new project announcements have decreased by approximately 6% year-over-year. However, new project announcements and delayed project restarts have gradually started to increase this year, as COVID-19 lockdown restrictions have been eased and more individuals get vaccinated.
Over the past year, the Asia-Pacific region represented 46% of new project market share (FIG. 1), followed by the U.S. and Eastern Europe, Russia and the Commonwealth of Independent States (CIS).
FIG. 1. New project market share by region, 2020–2021.
In Asia, China and India dominate new project an
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