Market Size of West Africa Oil and Gas Midstream Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | > 1.54 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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West Africa Oil & Gas Midstream Market Analysis
The market for the West Africa oil and gas midstream market is expected to register a CAGR of more than 1.54% during the forecast period of 2020-2025. Factors, such as increasing investment in the sector and increasing production and consumption of oil and gas, are expected to boost the demand for the West African oil and gas midstream market during the forecast period. However, political instability in countries is expected to impede growth in the region.
- Increasing consumption in the region is expected to increase the growth in the sector with new pipelines and LNG Terminals being expected to be constructed over the forecast period.
- Exploration and production of oil and gas fields in the region are expected to become an opportunity for the companies working in the oil and gas midstream industry as more pipeline and storage infrastructure may be required.
- Nigeria, which produces most of oil and gas in the region, has relatively better midstream infrastructure than the other countries. Massive investment in the pipelines and LNG terminals are expected to increase the growth in the industry.
West Africa Oil & Gas Midstream Industry Segmentation
The West African oil and gas midstream market report includes:
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Geography | |
Nigeria | |
Ghana | |
Rest of West Africa |
West Africa Oil and Gas Midstream Market Size Summary
The West Africa oil and gas midstream market is poised for growth, driven by increasing investments and rising production and consumption of oil and gas. The region's midstream sector is expected to expand, with new pipelines and LNG terminals anticipated to be constructed. This growth is particularly notable in Nigeria, which boasts relatively better midstream infrastructure compared to its neighbors. The country's significant investments in pipelines and LNG terminals are expected to further bolster the industry's expansion. However, political instability in certain countries poses a challenge to the region's growth prospects. Despite these challenges, the exploration and production of oil and gas fields present opportunities for midstream companies, as the demand for pipeline and storage infrastructure continues to rise.
The scarcity of pipeline infrastructure outside Nigeria, relative to the population, suggests that the oil and gas market could develop as the region's economies prosper. Existing pipelines, such as the Petroci Foxtrot Gas Pipeline and the West African Gas Pipeline, play crucial roles in connecting countries and facilitating gas delivery. The increase in oil and gas consumption is expected to incentivize further investments in the sector, leading to a slight increase in pipeline capacity over the forecast period. The West African oil and gas midstream market is consolidated, with major players including the Nigerian National Petroleum Corporation, Royal Dutch Shell PLC, Eni SPA, Societe Nationale d'Operations Petrolieres de la Cote d'Ivoire (Petroci), and Chevron Corporation, all contributing to the industry's growth trajectory.
West Africa Oil and Gas Midstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD million, until 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraint
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1.6 Supply Chain Analysis
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1.7 PESTLE ANALYSIS
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Transportation
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2.1.1.1 Overview
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2.1.1.1.1 Existing Infrastructure
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2.1.1.1.2 Projects in Pipeline
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2.1.1.1.3 Upcoming Projects
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2.1.2 Storage
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2.1.2.1 Overview
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2.1.2.1.1 Existing Infrastructure
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2.1.2.1.2 Projects in Pipeline
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2.1.2.1.3 Upcoming Projects
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2.1.3 LNG Terminals
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2.1.3.1 Overview
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2.1.3.1.1 Existing Infrastructure
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2.1.3.1.2 Projects in Pipeline
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2.1.3.1.3 Upcoming Projects
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2.2 Geography
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2.2.1 Nigeria
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2.2.2 Ghana
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2.2.3 Rest of West Africa
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West Africa Oil and Gas Midstream Market Size FAQs
What is the current West Africa Oil and Gas Midstream Market size?
The West Africa Oil and Gas Midstream Market is projected to register a CAGR of greater than 1.54% during the forecast period (2024-2029)
Who are the key players in West Africa Oil and Gas Midstream Market?
Nigerian National Petroleum Corporation, Royal Dutch Shell PLC, Eni S.P.A., Chevron Corporation and Societe Nationale d'Operations Petrolieres de la Cote d'Ivoire(Petroci) are the major companies operating in the West Africa Oil and Gas Midstream Market.