Targa Resources is a growth-oriented provider of midstream services and is one of the largest independent midstream energy companies in North America. We own, operate, acquire, and develop a diversified portfolio of complementary midstream energy assets.
Footprint in Multiple Shale / Resource Plays
We believe our near-term growth will be driven by significant organic growth investments combined with strong industry fundamentals connected with shale and natural resource development in North America. Our assets are not easily replicated and are strategically located in active producing areas and interconnected with key NGL markets and logistics centers. We have an expanding gathering and processing footprint across multiple shale and natural resource plays, including the Permian Basin, Barnett Shale, Bakken Shale, onshore Louisiana and the Gulf of Mexico.
Leading Position at Mont Belvieu
Targa Resources has a leading position at Mont Belvieu, the NGL hub of North America. Increased NGL production from shale and natural resource plays is driving capacity expansions for both long haul pipelines into Mont Belvieu and fractionation capacity expansions at Mont Belvieu. Targa Resources has the second largest fractionation ownership position at Mont Belvieu. In addition, we own one of only two commercial NGL export facilities on the Gulf Coast at our Galena Park Marine Terminal, which is interconnected to Mont Belvieu.
Long-Term Growth Drivers
Targa Resources has announced approximately $2 billion in organic capital expenditure projects through 2014. We are expanding the gathering and processing capacity across our systems to support the rapid growth in development across the systems we own and operate. We expect to continue fractionation expansion to support the projected increase in NGL supply. Targa Resources is currently enhancing its connectivity to the US Gulf Coast petrochemical complex and to other end users of NGLs. We are expanding our export capacity to global markets at our Galena Park Marine Terminal.