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Midstream Firms Hatch Plans for Low-Carbon Ops

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Top midstream companies in North America are starting to develop strategies for the energy transition. The sector is generally taking a three-pronged approach: investing in natural gas infrastructure; smoothing and expanding a path for oil exports; and “greening up” existing operations while building out their footprint in renewables and especially carbon capture and storage (CCS). Gas, however, commands more capital than do the other tactics. Midstream operators say they see gas as a key bridge fuel in the transition. While many experts see global oil demand peaking late this decade, global gas demand is set to keep rising well into the future. North American gas output is also expected to keep climbing beyond continental demand. Opportunities for expansions and newbuild midstream assets are thus heavily skewed toward gas, as are capital budgets. TC Energy, for example, plans capex of some $29 billion through 2025. Of that, $23 billion is earmarked for gas projects.

Topics:
Oil Pipelines, Gas Pipelines, Carbon Capture (CCS)
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