Industry News

Energy Regulator of Canada Responds to Tundra Energy for Incident in Saskatchewan

The increasing oil & gas pipeline leak incident will drive the demand for oil & gas pipeline leak detection market, globally

Canada: Canadian energy regulator is working on the crude oil release incident that happened at Tundra Energy Marketing Ltd's Ingoldsby terminal Southeast Regina, Saskatchewan. This is second incident reported by the company after the leakage of 200,000 liters of crude oil into the aboriginal land in Saskatchewan which happened due to pipeline leakage. Moreover, the regulator is taking various measure to reduce oil & gas pipeline leak detection measures in future.

TechSci Research forecasts that despite strict regulations governing pipeline leak detection systems, globally, the incidents of oil & gas pipeline leaks have witnessed a steady rise. Leakage in pipelines can occur due to various reasons such as natural damage, aging, weather conditions, corrosion, tampering, etc. Oil & gas pipeline leakage incidents prove to be extremely adverse not only for the environment, but also for operating companies which are liable to pay hefty amounts in the form of damages and compensation in case of any accidents. The planned investment by the Canadian government would help facilitate better response solutions to oil spills and would help standardize mitigation operations to during oil spill.

According to recently released report of TechSci Research, “Global Oil & Gas Pipeline Leak Detection Market Forecast & Opportunities, 2020”, global oil & gas pipeline leak detection market is projected to cross US$ 1.8 billion in 2020. Growth in the market can be attributed to the expanding oil and gas pipeline network across the globe on account of investments in pipeline infrastructure, especially in Europe and Africa.

Relevant News