Nigeria Oil and Gas Midstream Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The oil and gas midstream market in Nigeria is expected to register a CAGR of less than 1.5% during the forecast period. The Nigerian oil and gas midstream market was unaffected by the COVID-19 pandemic since the constant usage of storage facilities for storing hydrocarbons, the usage of pipelines for fuel transportation, and resilient demand for LNG in 2020 kept the demand for midstream services normalized in the country. 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. However, environmental concerns regarding new pipeline and transportation infrastructure are likely to restrain the growth of the oil and gas midstream market in the coming years. One of the biggest oil producers, Nigeria is now making significant progress in developing its midstream and downstream sectors.
Key HighlightsThe Nigerian oil and gas midstream market is consolidated. Some major companies include Nigerian National Petroleum Corporation, Duport Midstream Company Limited, Shell PLC, Eni SpA, and Chevron Nigeria Limited.
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