Abstract: Apparatuses, systems and processes for fluid gasification and degasification are disclosed. A fluid gasification/degasification apparatus includes housing having a central axis and at least one fluid inlet and at least one fluid outlet positioned at different axial locations along the housing. A membrane unit that includes a plurality of bundled microporous hollow membrane strands is disposed within the housing and extends in parallel to the central axis of the housing. The fluid gasification/degasification apparatus further includes one or more gas addition/removal apparatuses for facilitating at least one of: a gas addition operation and a gas removal operation. An orientation of the fluid inlet(s) and fluid outlet(s) results in a substantial portion of a carrier fluid introduced to the housing traveling in parallel along exterior surfaces of the membrane unit thereby allowing for an extended interface time between the carrier fluid and micro-bubbles of a gas supplied to the membrane unit.