Midstream operators and their upstream customers are counting on a wave of new natural gas pipeline capacity to reach markets.

Projects like Energy Transfer's Hugh Brinson and WhiteWater's Blackcomb pipeline are expected to add more than 5 bcfd of Permian takeaway capacity alone by late 2026, and the broader build-out extends well beyond West Texas.

But pipeline construction costs have hit record levels, FERC's permitting reforms are still working their way through the system, and capital markets remain watchful. History says not every project that gets announced gets built on time, or at all.

Oil & Gas Journal polled readers to get their thoughts on the biggest risk to project completion in the next 24 months.

The poll was shared on OGJ.com, across its social media channels, and in certain OGJ Daily e-newsletters Mar. 2-Mar. 13.

Here are a few highlights.

A total of 40% of respondents said permitting delays, even with FERC streamlining under way, was the biggest risk to project completion over the next 24 months.

A smaller percentage (27%) said potential crude oil price drop reducing associated gas volumes was the largest risk.

Not far behind was the risk associated with the price of materials. Of those that took the survey, 20% said steel and material cost inflation eroding project economics was the largest risk to project completion.

Thirteen percent of respondents said tightening of finance terms would be the biggest risk.

Participants were evenly split between the financial services/capital providers category and those in consulting roles.