It’s a common perception that completed infrastructure transactions in the US are a mere fraction of that market’s potential. Nonetheless, the US was the leading global infrastructure market by value of deals in 2010 according to full-year figures produced by InfrastructureInvestorAssets.
The US saw $21.9 billion of deals during the 12-month period, giving it a more than 11 percent share of the global market’s $194 billion value. It had two deals in the global top ten by value – the $3 billion Ruby Pipeline project (7th), a 670-mile long natural gas pipeline supplying gas from the Rocky Mountains to western US markets; and the $2.7 billion LBJ Express I-635 highway project in Texas (8th), the largest privately funded toll road development in US history.
Some of the countries featuring in the top ten table were there by virtue of one or two outisized deals. For example, Papua New Guinea’s third place was due entirely to its $18.3 billion liquefied natural gas project, which aims to produce 6.6 million tonnes of gas annually for export from 2014. Meanwhile, Saudi Arabia’s $14 billion Jubail Refinery project helped it to fourth place; and Russia was heavily reliant on two deals – the Nord Stream gas pipeline and M10 Moscow to St Petersburg highway PPP – to claim fifth.
Of those countries with a more consistent flow of deals, Spain came second with deals worth nearly $18.5 billion; Canada sixth ($10.8 billion); the UK seventh ($9 billion); and Australia ninth ($6.8 billion).