Midstream
Despite a 2.8% drop in liquefied natural gas exports in 2025 because of lost market share in China, Australia anticipates a 2026 rebound as new North West Shelf capacity comes online. Meanwhile, East Coast operators brace for a tsunami of wells entering the decommissioning pipeline and potential energy shortfalls necessitating LNG imports.
Engineering, procurement, construction, and installation awards made at the end of 2025 are expanding Saipem’s role in Turkey’s two largest offshore gas fields, plus Saudi Arabia’s Berri, Abu Safah, and Marjan oil fields and Qatar’s North Field gas giant in the Persian Gulf.
Project financing raised by JP Morgan will enable YPF and its partners Eni and ADNOC’s XRG to launch Phase 2 of Argentina LNG, boosting production to 18 mtpa by 2030–2031.
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Calgary-based Pembina Pipeline Corp. has entered into agreements to acquire Kinder Morgan Canada Ltd. and the US portion of the Cochin Pipeline system from Kinder Morgan for a total purchase price of approximately $4.35 billion. -
A joint-venture agreement gives Solaris control of Concho’s produced-water infrastructure in New Mexico, and Lagoon Water Solutions closed on a deal with Continental in Oklahoma.
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The Permian gets the lion’s share of attention when it comes to produced water, but other basins have a need to haul volumes off-site. How has the market changed in these areas recently? Is there a greater enthusiasm for pipelines, and can water midstream thrive?
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Growing supply of Permian crude oil means the basin will need extra takeaway capacity of up to 500,000 B/D by the end of the 2020s, according to new research from Wood Mackenzie.
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The well count and completion intensity of US tight oil and gas operations have grown in recent years, and rising pressure from environmental regulations means that produced water management has become a key focus for operators.
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Phillips 66 and partners in two separate joint ventures are building the Red Oak and the Liberty pipeline systems to deliver a total of approximately 750,000 BOPD to the US Gulf Coast with startup of service in early 2021.
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Approximately 90% of construction work has been completed on the pipeline, which is expected to transport up to 670,000 BOPD from the Permian Basin to the US Gulf Coast. Cactus II is one of several pipelines aimed at alleviating takeaway concerns in the Permian.
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The pipeline system will have the initial capacity to deliver 150,000 B/D of crude oil to multiple delivery points, accessing local refineries and connecting to several downstream pipelines.
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The independent oil and gas company is aiming to build shareholder value through a change in business focus to midstream with this step into pipeline service and construction.
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A growing sector of water midstream companies is in the Permian Basin looking to take advantage of a business opportunity borne out of rising produced water volumes. Billion-dollar valuations for these companies in the near future could become a reality.
