Global energy project activity has slowed during the last quarter (Q4: Oct-Dec 2013), dropping to 412 projects, a significant 21% decrease compared to Q3 2013, but a small 2% increase on Q4 2012, while the total potential investment value of US$222.3 billion has almost halved on the last quarter, decreasing by 48%, according to the EIC Monitor quarterly report from the Energy Industries Council (EIC).

EIC Monitor tracks nearly 10,000 projects proposed or under development in the global energy industry and provides a barometer, broken down into oil and gas (downstream, midstream, upstream), nuclear and conventional power, and the renewables sectors. Data is analysed by the number and value of new (both active and proposed) projects recorded by the EIC each quarter.

Key highlights of Q4 2013 report (1 Oct-31 Dec 2013):

• Overall this quarter, there were 412 new projects announced across the global energy supply chain with an estimated total value of US$222.3 billion, compared to 524 in Q3 2013 totalling US$424.5 billion and 405 new projects in Q4 2012 worth US$292.8 billion.

• The upstream sector has seen a decrease of 25% in the total number of new projects proposed this quarter, falling to 50 projects from 67 projects last quarter, with a 36% decrease in the total potential investment value of new project announcements since Q3 2013.

• In the midstream sector there has been a 31% decrease in the total potential investment value of new projects in Q4 2013, dropping to US$42 billion from US$60 billion in Q3 2013 with a small 2% decrease in the number of new projects announced.

• In the downstream sector, the number of new projects has decreased by 30% since Q3 2013, and the total potential investment value has decreased 34% from US$132.7 billion in Q3 2013 to US$87 billion in Q4 2013.

• The renewables sector has seen a 20% decrease in the total number of new projects this quarter, falling to 122 projects from 153 projects last quarter, with a 55% decrease in the total potential investment value of new project announcements since Q3 2013.

• In the power sector, the number of new projects has decreased by 23% in the last quarter, and there has been a decrease of 67% in the total potential investment value of new projects in Q4 2013, dropping to US$44 billion from US$134 billion in Q4 2013.

Tags: EIC Monitor