Midstream Oil and Gas Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 The global length of operational oil and gas pipelines stood at approximately 2079.72 thousand kilometers in 2020 and is projected to reach 2400 thousand kilometers by 2027, with an expected Compound Annual Growth Rate (CAGR) of about 1.9% between 2022 and 2027. The oil and gas midstream sector displayed resilience amid the COVID-19 pandemic due to sustained use of storage facilities, continuous pipeline fuel transportation, and a robust demand for LNG in 2020, maintaining a normalized demand for midstream services. Factors such as rising natural gas production and consumption, as well as increased usage of refined petroleum products, are poised to propel the need for pipeline services, driving the oil & gas midstream market in the forthcoming years. However, concerns over environmental impacts associated with new pipeline development and transportation infrastructure may hamper market growth.

Within the forecast period, the transportation segment is expected to assert dominance in the market, driven by the escalating demand for refined products. Increased investments and the development of smaller and intricate offshore fields across various regions are anticipated to elevate the need for midstream services, presenting significant opportunities for the midstream sector in the upcoming period. South America is foreseen as the fastest-growing market, primarily attributed to the burgeoning LNG demand in nations like Chile, Brazil, and Argentina.

Trends in the Oil & Gas Midstream Market:

Dominance of the Transportation Sector:

Pipelines reign supreme in the oil and gas transportation industry, expected to surpass existing transportation capacities in different regions due to escalating oil and gas supplies. This surge in energy demand has led to the construction of new pipelines and transportation facilities globally, especially in regions like Asia-Pacific (APAC) and Africa. The rise in energy needs has spurred terminal and pipeline expansions, catering to oil and gas transport requirements.

For instance, Russia and Pakistan inked an agreement in May 2021 for the construction of a USD 2 billion gas pipeline spanning approximately 1,100 kilometers, slated for completion by 2023. Additionally, a USD 40 billion deal between Russia and India for natural gas exports underscores Russia's significant role as an LNG exporter, presenting opportunities within the pipeline industry for market players in the forecast period.

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