West Africa Oil and Gas Midstream Market Size A Latest Research Report to Share Insights and Dynamics Forecast 2022-2031
The market for the West Africa oil and gas midstream market is expected to register a CAGR of more than 1.54% during the forecast period . Factors, such as increasing investment in the sector and increasing production and consumption of oil and gas, are expected to boost the demand for the West African oil and gas midstream market during the forecast period. However, political instability in countries is expected to impede growth in the region.
– Increasing consumption in the region is expected to increase the growth in the sector with new pipelines and LNG Terminals being expected to be constructed over the forecast period.
– Exploration and production of oil and gas fields in the region are expected to become an opportunity for the companies working in the oil and gas midstream industry as more pipeline and storage infrastructure may be required.
– Nigeria, which produces most of oil and gas in the region, has relatively better midstream infrastructure than the other countries. Massive investment in the pipelines and LNG terminals are expected to increase the growth in the industry.
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Key Market Trends
Pipeline Sector to Witness Growth
– The pipeline infrastructure in the region, except Nigeria, is scarce in quantity. Much lower relative to the population. It is expected that the oil and gas market could develop as the countries prosper.
– The East-West Pipeline is a proposed natural gas pipeline, running from the Obiafu-Obrikom gas plant to the Oben node in Nigeria. The length of the pipeline is expected to be approximately 127 kilometers, with a capacity of 2,000 million cubic feet per day. The pipeline is expected to start by 2020.
– Petroci Foxtrot Gas Pipeline is an existing natural gas pipeline, running from Foxtrot offshore platform to Abidjan, Cote d’Ivoire. The length of the pipeline is approximately 80 kilometers, with a capacity of 154 million cubic feet per day. The pipeline is one of the main pipelines in the region.
– Consumption of oil in West Africa increased by 3.9%, from 30.9 million metric ton oil equivalent (mtoe), in 2017 to 32.1 mtoe, in 2018. The increase in consumption incentivizes the investors for the required increase in capacity and increases the investments in the future, thereby boosting growth in the industry.
– Hence, pipeline capacity is expected to increase slightly during the forecast period due to an increase in the consumption of oil and gas and rising investment in the sector.
West Africa Oil and Gas Midstream Market
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