India and Russia to Explore Building of USD25 billion Oil & Gas Pipeline

Panaji: India and Russia signed a MoU at the India-Russia Annual Summit in which both agreed to build the world’s most expensive pipeline that would connect Russian gas grid to India through a 4,500 km to 6,000 km pipeline. According to preliminary cost estimates prepared by Engineers India Ltd, the longest route of 6,000 km is expected to cost around USD25 billion.  The realistic transportation cost for the Russia-India gas pipeline would be USD4 per mmBtu, excluding transit fee to be paid to nations through which the pipeline passes.

TechSci Research depicts that the expanding oil and gas pipeline network across the globe would contribute to the growth in oil & gas pipeline leak detection market in the coming years. On account of strict regulations and high compensations in case of hydrocarbon spills, aging pipelines are propelling the demand for pipeline leak detection across the globe, especially in Europe and Africa.

According to released report of TechSci Research “Global Oil & Gas Pipeline Leak Detection Market Forecast & Opportunities, 2020”, the global oil & gas pipeline leak detection market is projected to cross US$ 1.8 billion in 2020. Government of various countries have formulated regulations and standards, for reducing the after effects of oil and gas pipeline leak detection, which specify dedicated methods for oil & gas pipeline leak detection, which companies are required to abide with. These standards have made deployment and maintenance of leak detection systems a compulsion, thereby fueling growth in oil & gas pipeline leak detection market.