The oil and gas industry heavily relies on thousands of miles of running pipelines to transport products that run the US economy. According to data from the US Department of Energy, the US maintains approximately 2.6 million miles of natural gas and oil pipelines across the nation. This infrastructure serves as a vital artery for the energy sector. It may necessitate constant maintenance to prevent any structural defects that can affect functionality.
Economic Impacts Surrounding Pipe Wear
Corrosion is the bane of most industrial complexes, including the oil and gas industry. The natural process leads to pipe erosion and deterioration, resulting in significant property damage, injury, or death. A study by NACE International showed that corrosion cost the US oil and gas exploration and production an estimated $1.4 billion in losses annually. Early detections and mitigation measures such as pipe wear pads are key to mitigate its impact.
Here are the impacts of corrosion that pipe wear pads can help you avoid.
1. Expensive Product Replacement
The economic losses attached to corrosion can be extensive. The continuously eroding pipe and joints may require replacement in an expensive repair process. Using corrosion protection methods such as a pipe wear pad can prevent vibrations and rust formation, common causes of pipe erosion. These measures can save your plant the massive costs attached to replacing pipeline components destroyed through corrosion.
2. Structural Breakdown Leading to Shutdowns
The gradual wear down of your straight pipes, flanges, gaskets, and other components can weaken your pipeline infrastructure. The structural breakdown may necessitate a pipeline shutdown to carry out the necessary repairs. Utilizing pipe protection measures can help extend the useful lives of your pipeline components and components while decreasing your expenditure on repairs and maintenance.
3. Loss of Valuable Product
Gradual pipe erosions, especially on your joints, can result in cracks in the pipeline. The crevices may result in oil or gas leaks that can result in the loss of valuable products. A pipe wear pad can reduce the mechanical wear on your joints, reducing your product loss from corrosion damage. Contamination of the product through the cracks formed due to corrosion may also decrease the value of the fluids transported.
According to the US Pipeline and Hazardous Materials Safety Administration, corrosion is responsible for 18% of pipeline accidents in the United States. Loss of pipe strength at the corroded location can result in splits that can result in workplace accidents. Stress corrosion cracks can result in the release of flammable products onto the environment, increasing the risk of catastrophic accidents in your oil and gas plant. A corrosion protection system can help prevent pipe wear that can result in accidents that destroy your assets.
5. Compliance Issues
Corrosion can also mean safety issues from non-compliance with federal regulations. These include pipeline inspections, reporting corrosion-related incidents, and filing accident reports. Failure to follow these instructions may result in hefty fines that can impact the profitability of your plant. A pipe wear protection system can help you meet compliance requirements without compromising on quality or production output. It ensures a smooth operation that preserves your assets and decreases the chances of accidents resulting from faulty corroded pipelines.
6. Environmental Issues
Oils spills resulting from damaged pipelines can contaminate the local flora and fauna. This can lead to several fines and penalties that may impact your assets and reputation as an environmentally responsible company. Environmental damage costs are also likely to increase insurance premiums, which affect your business’s bottom line. A pipe wear pad system can help reduce the loss or contamination of your valuable products through corrosion while protecting your plant from costly lawsuits related to spills and accidents caused by corroded pipes.
Looking at the economic impacts that arise from pipe wear indicates the importance of a corrosion protection system for your pipeline. A pipe wire pad in a critical section of your piping with joints can help you make cost savings for your oil and gas plant. To learn more about pipeline corrosion prevention tips, reach out to DynaGard.