SUGAR LAND, TX--(Marketwired - Feb 20, 2014) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Spending in the U.S. Oil & Gas sector has consistently increased over the past few years, and this trend shows no signs of changing in the near future, according to presenters at Industrial Info's most recent Industrial Market Outlook, held January 29 in Houston, Texas.
However, in 2014 spending for Pipelines and Oil & Gas Terminals projects is actually expected to decline, so the overall increase in project spending expected in the Oil & Gas sector will come from production and midstream gas processing. The most obvious outlet for this spending increase would be the massive liquefied natural gas (LNG) liquefaction and export projects occurring in the U.S. However, pulling these multibillion-dollar projects out of the equation, the value of planned construction starts for in the U.S. Oil & Gas Production Industry still shows more than a 50% increase from what kicked off in 2013, rising from approximately $12.8 billion in 2013 to $19.47 billion this year.
Industrial Info's next Market Outlook will be held at The Ritz-Carlton in Washington, D.C., on May 7, followed by others in Jersey City, New Jersey, and Baton Rouge, Louisiana. For more information or to RSVP for these events, visit the Market Outlook page on our website.
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