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What is Corrosion Costing the pipeline industry?

According to a report by NACE and CC Technologies appropriately titled “Corrosion Costs US Transmission Pipelines as much as $8.6 Billion/Year” the cost of corrosion is estimated at between $5.4billion and $8.5 Billion per year.  They take a more detailed look at this in another related study called “Gas and Liquid Transmission Pipelines”  They estimate the five year cost at around $35 Billion for Pipeline Maintenance, including inline tool inspections and direct assessment digs.  A study conducted by Nace entitled “Corrosion Costs and Preventative Strategies” puts the figure for Corrosion for all industries at $276 Billion dollars per year in the US alone.  According to the NACE report “The average annual corrosion-related cost is estimated at $7 billion to monitor, replace, and maintain these assets. The corrosion-related cost of operation and maintenance makes up 80% of this cost.”

With the replacement value of the pipeline system in the US estimated at more than $540 Billion there are a lot of good reasons to make maintenance and prevention a high priority.  Now more than ever it is critical that Pipeline Operators utilize the latest Pipeline Assessment and Management tools available in order to maximze both the life expectancy of in service pipelines and the degree of safety with which they operate.

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