In an era marked by an increasing availability of alternative energy and a huge but decreasing global supply of oil and natural gas, the efficiency of oil & gas terminals is more important than ever.
Icon Group International has authored a new report, “The 2018-2023 World Outlook for Oil and Gas Terminal Automation Systems,” with the market expected to grow at a compound annual growth rate of 7.1%, reaching nearly $1 trillion.
The petrochemicals refining market is incredibly complex. The cyclical upturns and downturns in the price of oil and gas make efficiency a necessity if oil and gas companies are to survive. Today’s world-class refining technology is becoming more automated.
Companies like Honeywell, for example, offer the industry’s leading automation technologies that lead to increased revenues, improved efficiency, and the ability to process alternate feedstocks. Honeywell offers modular plant construction that makes it possible to easily build both onshore and offshore gas processing treatment and LNG solutions.
Honeywell has created pre-engineered modular units, again fully automated, that can be integrated to carry out contaminant removal, natural gas liquids recovery, and more. The company also provides absorbance to remove contaminants, thereby increasing product value while protecting natural gas process equipment. Honeywell’s green diesel technology produces diesel that can be used in current diesel engines without any blending or modification.
And that’s not all. Honeywell processing equipment also produces aviation biofuel, biomass to energy, industrial water treatment while automating gas control, and measurement and terminal automation, all through the use of sensors and embedded switches. Finally, Honeywell has risen to the challenges of facility security, industrial security, and the safety of its workers.
The following video, “Honeywell Digital Suites for Oil and Gas,” is an illustration of the advanced automation system that allows oil and gas companies and their management to make decisions based on unprecedented amounts of accurate information.