Market Size of China Oil and Gas Midstream Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 3.04 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Oil & Gas Midstream Market Analysis
The Chinese oil and gas midstream market is expected to witness a CAGR of more than 3.04% during the forecast period.
The COVID-19 pandemic negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, increasing natural gas production and consumption are expected to boost the Chinese oil and gas midstream market during the forecast period.
- On the other hand, the decreasing oil production in the country has caused concern in the sector, which may lead to the possible decommissioning of pipes during the forecast period.
- The Chinese government's initiative to increase oil and gas production in the country is expected to provide an opportunity for the players in the midstream sector as new production fields would open new avenues for the development of oil and gas pipelines.
China Oil & Gas Midstream Industry Segmentation
Midstream activities include the processing, storing, transporting, and marketing of oil, natural gas, and natural gas liquids.
The Chinese oil and gas midstream market is segmented by type. By type, the market is segmented by transportation, LNG terminals, and storage. For each segment, the market size and forecasts have been done based on revenue (USD billion).
| Type | |
| Transportation | |
| LNG Terminals | |
| Storage |
China Oil and Gas Midstream Market Size Summary
The Chinese oil and gas midstream market is poised for growth, driven by increasing natural gas production and consumption. The sector, which encompasses transportation, pipelines, and storage facilities, is recovering from the setbacks caused by the COVID-19 pandemic and has returned to pre-pandemic levels. The government's initiatives to boost oil and gas production are expected to create new opportunities for midstream players, despite concerns over declining oil production potentially leading to the decommissioning of pipelines. The country's extensive pipeline network, including a significant length of natural gas and oil pipelines, supports the transportation segment's anticipated growth. Additionally, China's plans to expand its LNG import capacity further underscore the sector's development prospects.
As the second-largest consumer and sixth-largest producer of oil and gas globally, China's energy market is dominated by state-owned enterprises that manage domestic reserves and strategic petroleum reserves. The rising demand for natural gas is prompting substantial investments in new gas storage facilities and pipelines, which are expected to enhance the midstream sector's capacity. Recent discoveries, such as those by Sinopec in the Tarim Basin and Sichuan Basin, are set to bolster the country's oil and gas supply, supporting future industry growth. The market is moderately consolidated, with major players like China National Petroleum Corporation and China Petroleum & Chemical Corporation leading the sector. These developments, along with significant foreign investments like ExxonMobil's petrochemical complex, indicate a positive outlook for the Chinese oil and gas midstream market.
China Oil and Gas Midstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Oil Production and Consumption Forecast in thousand barrels per day, till 2027
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1.2 Natural Gas Production and Consumption in billion cubic feet per day, till 2027
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1.3 LNG Terminals Installed Capacity and Forecast, till 2027
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1.4 Recent Trends and Developments
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1.5 Government Policies and Regulations
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Supply Chain Analysis
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1.8 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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2.1.2 LNG Terminals
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2.1.3 Storage
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China Oil and Gas Midstream Market Size FAQs
What is the current China Oil and Gas Midstream Market size?
The China Oil and Gas Midstream Market is projected to register a CAGR of greater than 3.04% during the forecast period (2024-2029)
Who are the key players in China Oil and Gas Midstream Market?
China National Petroleum Corporation, PJSC Gazprom, PJSC Transneft , China Petroleum & Chemical Corporation and POSCO are the major companies operating in the China Oil and Gas Midstream Market.
