Vietnam Oil and Gas Midstream Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Vietnam's oil and gas midstream market is expected to record a CAGR of more than 5.57% during the forecast period (2022–2027). The oil and gas midstream market in Vietnam was unaffected by the COVID-19 outbreak. 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 demand for natural gas and oil and increasing gas production in the country are expected to boost Vietnam's oil and gas midstream market during the forecast period. However, oil production is decreasing in the country, which is expected to impede the market’s growth.
Key HighlightsThe Vietnamese oil and gas midstream market is consolidated. The major companies include Vietnam National Petroleum Group, Vietnam Oil and Gas Group, Vietsovpetro, PJSC Rosneft Oil Company, and Perenco SA.
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