Market Size of Nigeria Oil and Gas Midstream Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | < 1.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Nigeria Oil and Gas Midstream Market Analysis
Nigeria's oil and gas midstream market is expected to register a CAGR of less than 1.5% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as increasing production and consumption of natural gas and refined petroleum products, rising investments in the oil and gas sector, and increasing LNG exports are expected to boost the demand for pipeline services and drive the oil and gas midstream market in the country during the forecast period.
- On the other hand, environmental concerns regarding new pipelines and transportation infrastructure are likely to restrain the growth of the oil and gas midstream market in the coming years.
- Nevertheless, exploration and production of oil and gas fields in the region are expected to become an opportunity for companies working in the oil and gas midstream industry as more pipeline and storage infrastructure may be required.
