Targa NGL Pipeline Company Launches Open Season
Targa Resources Corp. (NYSE: TRGP) has launched an open season from November 18 to December 17, 2021, to assess shipper interest in committed interstate transportation services for natural gas liquids (NGLs). The project will connect upstream pipeline facilities in Oklahoma to Mont Belvieu, Texas. Shippers are encouraged to submit a Non-Disclosure Agreement by November 23 to evaluate the open season documents. The final capacity will be determined based on the response to this open season, affecting both committed and uncommitted service options.
- Launch of open season to gauge shipper interest in NGL transportation.
- Opportunity for shippers to secure firm capacity under transportation service agreements.
- Interconnection project could enhance Targa's market position in NGL logistics.
- None.
HOUSTON, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that Targa NGL Pipeline Company LLC (“Targa NGL Pipeline”), a wholly owned subsidiary of the Company, has launched an open season commencing November 18, 2021 and closing December 17, 2021 to gauge shipper interest in committed interstate transportation service for natural gas liquids (“NGLs”) from a planned interconnection with upstream pipeline facilities in Stephens and Grady counties, Oklahoma to Mont Belvieu, Texas.
This open season will provide an opportunity for shippers to secure firm capacity for NGL transportation subject to the terms of their transportation service agreements (“TSAs”). The final volume of capacity for both committed and uncommitted service on the project will be determined by Targa in part based on the results of this open season.
It is recommended that interested potential shippers submit a signed Non-Disclosure Agreement (“NDA”) on or before 5:00 p.m. Central Standard Time, November 23, 2021, to give those shippers adequate time to evaluate the open season documents. Please visit Targa’s online Tariff Directory to view the Open Season Notice and download a copy of the NDA. Inquiries about the Open Season or this notice should be directed to:
Jeff Graves
VP Commercial
Targa NGL Pipeline Company LLC
811 Louisiana Street, Suite 2100 Houston, TX 77002-1400
jgraves@targaresources.com
About Targa Resources Corp.
Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.
Targa is a FORTUNE 500 company and is included in the S&P 400.
For more information, please visit the Company’s website at www.targaresources.com.
Forward-Looking Statements
Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics such as COVID-19, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the timing and success of business development efforts, and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact the Company's investor relations department by email at
InvestorRelations@targaresources.com or by phone at (713) 584-1133.
Sanjay Lad
Vice President, Finance & Investor Relations
Jennifer Kneale
Chief Financial Officer
FAQ
What is Targa Resources Corp.'s open season about?
When does Targa's open season commence and end?
How can interested shippers participate in the open season?
What will determine the final capacity of Targa's NGL pipeline project?
