Targa Resources Corp. is bullishly pushing forward with expansion projects in the prolific Permian Basin, citing expectations for robust global oil and natural gas demand long term

Waha Prices

The Houston-based company expects momentum to push through 2023, a year in which global oil demand is projected by the International Energy Agency to grow and foundations are being built for long-term natural gas needs in the United States and globally. 

This notably includes Europe, which has become reliant on American supplies of LNG, and developed amid Russia’s year-long war in Ukraine. This hastened the continent’s need to ditch dependence on Kremlin-backed gas. U.S. liquefied natural gas is expected to help fill the void for years to come.

“We expect our momentum to continue through 2023...