Nigeria Oil and Gas Midstream Market Size (2024 - 2029)

The Nigeria oil and gas midstream market is poised for growth, driven by increasing production and consumption of natural gas and refined petroleum products, alongside rising investments and LNG exports. Despite the challenges posed by environmental concerns over new infrastructure, the market has rebounded to pre-pandemic levels. The exploration and production activities in the region present opportunities for expansion, as there is a growing need for enhanced pipeline and storage infrastructure.

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Market Size of Nigeria Oil and Gas Midstream Industry

Nigeria Oil And Gas Midstream Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 1.50 %
Market Concentration Low

Major Players

Nigeria Oil And Gas Midstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

Nigeria Oil and Gas Midstream Market Analysis

Nigeria's oil and gas midstream market is expected to register a CAGR of less than 1.5% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.

  • Over the medium term, 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.
  • On the other hand, environmental concerns regarding new pipelines and transportation infrastructure are likely to restrain the growth of the oil and gas midstream market in the coming years.
  • Nevertheless, exploration and production of oil and gas fields in the region are expected to become an opportunity for companies working in the oil and gas midstream industry as more pipeline and storage infrastructure may be required.

Nigeria Oil and Gas Midstream Industry Segmentation

The midstream sector covers the transportation, storage, and trading of crude oil, natural gas, and refined products. In its unrefined state, crude oil is transported by two primary modes: tankers, which travel interregional water routes, and pipelines, through which most of the oil moves for at least part of the route.

The Nigerian oil and gas midstream market is segmented by type. By type, the market is segmented into transportation, storage, and LNG terminals. For each segment, market sizing and forecasts have been done based on revenue (USD billion).

Sector
Transportation
Storage and Terminal
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Nigeria Oil and Gas Midstream Market Size Summary

The Nigerian oil and gas midstream market is poised for modest growth over the forecast period, driven by increasing production and consumption of natural gas and refined petroleum products. The sector is witnessing a rise in investments and LNG exports, which are expected to enhance the demand for pipeline services. Despite the positive outlook, environmental concerns regarding new pipelines and transportation infrastructure may pose challenges to market expansion. However, opportunities abound in the exploration and production of oil and gas fields, necessitating the development of additional pipeline and storage infrastructure. The existing pipeline network, which includes significant gas and oil pipelines, is anticipated to require expansions and new constructions to meet the growing energy demand.

The market is characterized by a consolidated landscape with major players such as the Nigerian National Petroleum Corporation, Duport Midstream Company Limited, Shell PLC, Eni SpA, and Chevron Nigeria Limited. Strategic initiatives, such as the construction of the Nigeria-Morocco gas pipeline and the expansion of the Nigeria LNG facility, underscore the country's commitment to enhancing its midstream capabilities. These developments aim to increase natural gas exports, particularly to Europe, as the continent seeks alternatives to Russian gas supplies. Additionally, domestic consumption is being bolstered through infrastructure projects like the Ajaokuta-Kano gas pipeline, further supporting the growth of the midstream sector.

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Nigeria Oil and Gas Midstream Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Nigeria Oil and Gas Midstream Market in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Sector

      1. 2.1.1 Transportation

      2. 2.1.2 Storage and Terminal

Nigeria Oil and Gas Midstream Market Size FAQs

The Nigeria Oil and Gas Midstream Market is projected to register a CAGR of less than 1.5% during the forecast period (2024-2029)

Duport Midstream Company Limited (DMCL), Nigerian National Petroleum Corporation, Chevron Nigeria Limited, Eni SPA and Shell PLC are the major companies operating in the Nigeria Oil and Gas Midstream Market.

Nigeria Oil and Gas Midstream Market Report Snapshots

Nigeria Oil and Gas Midstream Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)