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.