Targa Resources Corp. plans to build two 250-MMcfd cryogenic natural gas processing plants to support rising production in the Midland basin of the Permian basin.
The first plant is scheduled for startup in first-quarter 2019, with commissioning of the second plant to follow during third-quarter 2019, Targa said.
The operator did not disclose precise locations for the proposed plants.
Separately, Targa said it will add a 100,000-b/d fractionation train in Mont Belvieu, Tex., as part of recently announced development joint ventures (DevCo JVs) with investment vehicles affiliated with Stonepeak Infrastructure Partners, which in addition to owning Targa’s 25% interest in the Gulf Coast Express pipeline and a 20% interest in the Grand Prix pipeline, will own 100% interest in the proposed fractionator (OGJ Online, Jan. 3, 2018; Oct. 5, 2017).
The DevCo JV will own and fund the fractionation train, while Targa will fund 100% of associated brine, storage, and other infrastructure required to support the fractionator’s operation.
At an estimated cost of $350 million, the Mont Belvieu fractionation expansion and related infrastructure are scheduled for startup in first-quarter 2019, Targa said.
Including the two Midland basin gas plants and fractionation assets in Mont Belvieu, Targa said its estimated net-growth capex for 2018-announced projects is now about $1.6 billion.
Targa has a series of capacity additions planned through 2019 as part of a broader program to expand Permian midstream capabilities (OGJ Online, Aug. 25, 2017).
The accompanying shows a list of Targa’s proposed projects to add fresh capacity in the Permian basin in 2018-19.
Contact Robert Brelsford at [email protected].