(P&GJ) - Increased investment in infrastructure as a result of higher oil and gas prices, as well as growing activity in planning for future energy provision, means that many operators and utilities around the world are seeking ways to help them improve operational efficiency and access to safe and sustainable energy for the communities that they serve. The integrity of pipelines will play a critical role in this development. A greater focus on improving pipeline integrity management processes and procedures will be vital in ensuring energy supply effectively reaches customers and satisfies consumer consumption. The global pipeline integrity management market is projected to accelerate from $8.80 billion in 2021 to $11.26 billion in 20281. In 2020, repair and refurbishment made up almost 60% of global pipeline integrity activities. While current energy demand is high, the oil and gas industry faces significant longer-term uncertainty. Aging pipelines mean greater risks, which are in turn set against a background of cost reductions and increased regulatory demands. Loss of skills and a lack of new talent add to the strain on existing resources. The four challenges of more regulation, reduction in resources, aging assets and questions over long-term financial outlook represent a quadrilemma for oil and gas operators.
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