Including: Oil and gas and Traditional electric power generation
Oil and gas
The oil & gas industry has experienced dynamic change over the past ten years. New drilling technologies, such as horizontal drilling, have opened up new resource formations onshore, while offshore drilling vessels are now able to safely explore ultra-deep water basins. Responding to the demand for greater asset reliability, improved operational performance and heightened environmental stewardship, has resulted in a favourable investment climate. Global capital investment in this industry has doubled since 2000.
SKF’s offer and role in the market
There are three basic sub-industries in the oil & gas industry: exploration and production (upstream), transportation and storage (midstream), and refining and marketing (downstream). SKF has been a strategic partner to manufacturers and endusers for more than 80 years in all these industries.
SKF is gaining market share with its bearing and seal offers for downhole drilling motors. The integration of Kaydon’s slewing ring bearings range, coupled with SKF’s expanded seal range, also enables more complete offers to manufacturers of critical drilling equipment that operate on the surface. For production assets placed on the sea floor, SKF offers a new generation of ball and roller screws, special fluid handling seals for valves, hybrid bearings for subsea pumps and magnetic bearings for subsea compressors.
The global expansion of liquefied natural gas (LNG) raises dependency on gas pipeline infrastructure reliability and new investments in offshore production platforms. This brings opportunities for SKF’s broad portfolio of condition monitoring products, condition-based maintenance services, lubrication systems and Kaydon’s mechanical seals for compressors.
The need for new LNG export and import terminals with specialized transport ships, has increased demand for SKF’s hybrid and magnetic bearing systems for pumps, compressors and expanders. New refineries are being built in non-OECD countries and existing refineries in the OECD are being reconfigured to handle new types of feedstocks, ranging from heavier oil to liquid-rich gas. This development triggers large-scale investments in plantwide condition monitoring systems, lubrication systems and asset management services.
Traditional electric power generation
Increasing demand for energy worldwide continues to be a driver for new power plant construction and the renewing of ageing plants and equipment. The majority of the world’s power plants today are coal-fired, followed by combined cycle gas plants and nuclear power plants. However, there is a distinct trend to move from coal to natural gas where abundant local supplies offer a more economical fuel source, notably in the USA. This fuel shifting can result in lower CO2 emissions, around 50% less than coal. Other OECD countries are investigating access to the expanding global LNG supply chain and/or the development of local shale gas resources to take advantage of the same trend. Non-OECD countries, such as India and China, continue to invest heavily in new coal-fired plants.
SKF’s offer and role in the market
SKF is a strategic partner to manufacturers and end-users, offering a single source for integrated solutions designed to increase operational efficiency and asset reliability. SKF’s expertise is instrumental when specifying and designing power plant applications together with OEMs, such as pumps, compressors, steam and gas turbines, conveyors and crushers. Once installed, SKF offers a range of condition monitoring tools and software, training, maintenance and repair services to help power plant owners and operators extend plant service life and reduce the total cost of operations.