U.S. Natural Gas Demand Drives Expansions in Permian, Other Shale Plays

June 30, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--As demand for U.S.-based natural gas is skyrocketing--both domestically and abroad--gas-processing companies are struggling to keep pace with new and expanded facilities in some of North America's most prosperous shale plays.

Industrial Info is tracking more than $2.5 billion worth of gas-processing projects that are set to begin construction in the third quarter, more than half of which is attributed to expansions of existing natural gas plants. Enterprise Products Partners LP (NYSE:EPD) is among the biggest spenders in this sector, along with Energy Transfer LP (NYSE:ET) and Targa Resources Corporation (NYSE:TRGP), which boosted its profile with its recently announced plan to purchase Lucid Energy Group LLC. Tallgrass Energy Partners (NYSE:TGE) and Williams Companies Incorporated (NYSE:WMB) are among the biggest developers in the Western states.