The West Africa oil and gas midstream market is expected to register a CAGR of more than 1.54% during the forecast period of 2020-2025, according to ResearchAndMarkets
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.