New ptj Issue 3-2019
Digitalization in the Pipeline Industry
The new PALIMEX®-880/-855
The two-tape system reliably protects your pipeline – and saves your budget.
Operations & Integrity Management and Compliance in an age of IIOT
Steve Hill >>> Honeywell Process Automation Solutions
New Technologies Drive Operational Performance by Connecting Smart Stations to Distribution Networks
Rossella Mimmi >>> Emerson Automation Solutions
Intelligent Predictive Maintenance in the context of Maintenance 4.0 for Oil & Gas Industry
Dr. Rama Srinivasan Velmurugan >>> GAIL (India)
Digital disruption will occur in Midstream as it is underway in other asset intensive industries
Sam Hemeda >>> Arundo Analytics
The Big Data Revolution: Detecting Pipeline Leaks, Encroachments and more Using Satellites
John Zhou & Caroline Beck >>> Satelytics
Best Practices for Cybersecurity Diagnosis in Industrial Environments
Ernesto Landa >>> Compania Operadora de Gas del Amazonas

New study gives estimates on the impact of Nord Stream 2 on the EU labour market

Cofferdam installation at the Russian landfall (© 2019 Nord Stream 2 / Vladimir Postnov)

More than 1,000 contractors from all over Europe and Russia are contributing to the realization of the Nord Stream 2 project. This includes both large international firms providing materials or construction services and small enterprises providing expert services. Furthermore, the investment until the end of December 2018 creates 57,500 full-time job equivalents in the EU over five years, adding €4.7 billion in GDP in various industrial sectors.

The objective of the new Arthur D. Little study, commissioned by Nord Stream 2, is to understand the direct, indirect and induced effects of the project on the European economy, and on countries where actual investments in the pipeline have been or are being made in more detail. Compared to the previous report, the current one takes actual spent and detailed supplier data until the beginning of operations into account.

It estimates the effects related to the execution of the project, as well as those on supply chains and the wider economy. The analysis used an economic modeling tool (IMPLAN) based on underlying statistical databases for different economies. The study considers all committed and spent investments as of the end of December 2018 of (CAPEX) €8 billion.

The most pronounced effects are seen in countries where major project-related construction activities are taking place – Russia, Germany, Finland, Denmark and Sweden; in countries traditionally associated with the offshore oil and gas industry that host the majority of service providers – the Netherlands, the United Kingdom, Norway and Italy; and at the headquarters of the project developer and other international service providers. The current study was complemented with supplier interviews which confirmed the beneficial impact the project has had on corporate development and local communities. Also highlighted in the study were some of the major innovations and pioneering solutions for challenges that resulted from project work.

Michael Kruse, Partner in ADL’s Energy & Utilities Practice, said: "At a time when the oil and gas industry is experiencing cut-backs and lay-offs, this report transparently demonstrates the benefits of large energy infrastructure projects such as Nord Stream 2."

The report can be downloaded here: www.adl.com/NordStream2impact.

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