Targa Resources more than doubles; U.S. pipeline operators rise in 2024

EnLink Midstream LLC

31/12/2024 12:50

** Shares of several U.S. oil and gas transportation firms
rose in 2024 with Alerian Midstream Energy Index  .AMNA  gaining
~36% YTD
    ** Gains in midstream firms were fueled by hopes of growing
electric generation associated with artificial intelligence
operations, cryptocurrency mining and data centers
    ** Pipeline operators Targa Resources  TRGP.N  rose ~104%
YTD and DT Midstream was up ~83% YTD, its highest jump in a year
    ** Williams Companies  WMB.N  up ~55% YTD
    ** "We executed a precedent agreement on another expansion
to the Transco Dalton Lateral driven by load growth from data
center demand and industrial re-shoring in the Atlanta area,"
CEO of Williams Companies, Alan Armstrong, said in November
    ** Kinder Morgan  KMI.N  also climbed 55% YTD
    ** "Data center demand has skyrocketed," KMI CEO Kimberly
Dang said in October. The overall gas market could grow by 25
billion cubic feet per day over the next five years, she added
    ** ONEOK  OKE.N  was up 43% YTD, as the company expanded its
asset base with multiple acquisitions in the year

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))