Volume 27 , Issue 7 , August 2022
Valve World is the global magazine for valve and actuator users , suppliers and specifiers . www . valve-world . net
Director KCI Publishing B . V Elisa Hannan e . hannan @ kci-world . com Tel : + 31 575 585 291
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Oil & gas - a roller-coaster of demand , pricing and regulations
Here in the Northern Hemisphere , August is a month of summer holidays and sun , long evenings where twilight lingers late into the night and the world just seems to slow down a little bit . I hope that you have the time to sit back and relax with this issue of Valve World , and to enjoy the articles our editorial team has selected for you this month .
Our special focus this issue is oil and gas , and what a roller coaster ride it ’ s been for this industry over the past two years ! Following a period of record-low prices triggered by the global pandemic , prices have soared in recent months in the wake of the war in Ukraine and a surge in demand as lockdowns were released . As James Chater explains in his feature article , it ’ s a feeling of déjà vu for those who have lived through the 1970s . Inflation , economic malaise , East-West tensions , energy shortages … The relatively benign global economy of the last 30 years has given way to an altogether bleaker outlook . The offshore oil & gas sector is facing some hard choices : chief among these is how to meet higher demand without exceeding emission reduction targets and how to manage the transition to renewables . Valves and special metals play a central role in both old and new energy types .
This month we welcome Velan to our cover . The company ’ s experience in cryogenic valves positions it to play a key role in LNG , Liquid Hydrogen ( LH2 ), Liquid Helium ( LHe ) and other special process applications . Its team has strong expertise with extremely low temperature applications , which they successfully leverage for commercial processes .
A technical report by Bob McIlvaine looks at the market for subsea valves . Current market conditions have resulted in a demand for subsea valves but the growth in this market will be determined by the comparative cost and availability of new oil and gas reserves .
Additive manufacturing is increasingly important in the valve industry , and in the enduser interview , the head of Equinor ’ s AM Centre of Excellence , Brede Laerum , explains that if companies strive to adapt AM and reap its full benefits , they have to digitalize their inventories . Within ten years , Equinor aims to digitalize half of its inventory , leading to significant cost reduction across the supply chain .
It ’ s time to start planning your visit to Valve World Conference , which takes place 29 November – 1 December in Dusseldorf , Germany . We ’ ve given you a sneak peek of one of the excellent interactive workshops on severe service . It ’ s a topic which has always been popular at the Valve World conference , and rightfully so . The highly demanding conditions to which these valves are subjected required bespoke solutions with innovative designs and / or durable materials .
We ’ ve included the full Advance Conference Progarm in this issue to help you prepare your visit ; online registration is open at www . valve-world-conference . com
I hope you enjoy this issue of Valve World !
Joanne McIntyre Editorial Manager j . mcintyre @ kci-world . com
www . valve-world . net Valve World August 2022 3