Pipelines may seem like an old-fashioned way to transport oil and gas, but nothing could be further from reality. While America’s pipeline systems have been in use since the 1920s, the technology and policies in the industry are constantly changing and growing to fit the times.
Here are 4 ways the pipeline industry is building the future.
The pipeline industry is constantly striving to provide better facts and context to the public. For example, Andy Vance, vice president of Enbridge Pipelines, noted the industry needs to explain the causes behind incidents — such as third-party damage — and how systems, like the One-Call service, have been put in place to prevent them.
Innovation, particularly digital innovation, can be seen throughout the industry. From the technologies focused on helping companies make data-driven decisions to constant improvements in practices and advancement, the pipeline industry knows the future of the business and the world at large is through new digital technologies.
Diversity is key to a thriving industry, and that means creating workplaces that are inclusive, embrace employees’ differences and strengths, and provide opportunities for all. While the oil and gas industry in general is overwhelming male, 51% expect to see an increase in women in leadership roles. Currently, only 11% of senior leadership positions are filled by women, but most agree that number is rising.
In a recent survey, 98% of respondents within the industry agree this is a time of monumental change within the oil and gas industry. Disruption due to the fall in oil prices, geopolitical instability, and financial and environmental regulatory policy change are driving a fundamental shift in the industry. Companies are changing business models, adjusting supply chains, and reworking their portfolios to improve value. That value is being adding through diversity.
Getting to Zero
The future is about getting to zero incidents involving pipelines, and there must be progression and evolution in the industry. The industry is actively engaging with stakeholders to show commitment towards zeros incidents.
Like all sectors of business, the pipeline industry is evolving to do business in the modern world.