Oil and Gas Midstream Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The global operating oil and gas pipeline length was estimated to be around 2079.72 thousand km in 2020, which is expected to reach 2400 thousand km by the end of 2027, registering a CAGR of about 1.9% during the forecast period of 2022-2027. The oil and gas midstream was fairly unaffected by the COVID-19 pandemic since the constant usage of storage facilities for storing hydrocarbons, usage of pipelines for fuel transportation, and resilient demand for LNG in 2020 kept the demand for midstream services normalized. Factors such as increasing production and consumption of natural gas and refined petroleum products are expected to boost the demand for pipeline services in the coming years and are likely to drive the oil & gas midstream market during the forecast period. However, environmental concerns regarding new pipelines and transportation infrastructure are likely to restrain the growth of the oil & gas midstream market in the coming years.
Key HighlightsThe oil and gas midstream market is moderately consolidated. Some of the key players in this market include APA Group, Chevron Corporation, BP PLC, Enbridge Pipelines Inc., and Shell PLC, among others.
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