Nigeria Oil and Gas Midstream Market Size (2024 - 2029)

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.

Nigeria Oil and Gas Midstream Industry Segmentation

The midstream sector covers the transportation, storage, and trading of crude oil, natural gas, and refined products. In its unrefined state, crude oil is transported by two primary modes: tankers, which travel interregional water routes, and pipelines, through which most of the oil moves for at least part of the route.

The Nigerian oil and gas midstream market is segmented by type. By type, the market is segmented into transportation, storage, and LNG terminals. For each segment, market sizing and forecasts have been done based on revenue (USD billion).