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
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...