TRGP · 10-Q · 2026Q3 · Full report

Strategic Infrastructure Expansion

Targa Resources Corp. · 2026-11-05 · Importance 52 · Surprise 42 · In source text

Targa is expanding processing, fractionation, NGL pipeline, LPG export, and natural gas pipeline capacity across the Permian and its downstream network. Permian plant additions include 275 MMcf/d Falcon II, East Pembrook, and East Driver plants, which entered service in 2026, and multiple plants scheduled through 2028; Train 14, a planned 150 MBbl/d Mont Belvieu fractionator, is expected online in the first quarter of 2029. Speedway is a roughly 500-mile NGL pipeline with initial capacity of 500 MBbl/d, expandable to 1,000 MBbl/d, expected online in the third quarter of 2027; the Galena Park LPG export expansion could raise effective capacity to 19 million barrels per month. Other projects include Bull Run II, expected online in the second quarter of 2028, and Forza, a 36-mile interstate pipeline pending FERC and other approvals, also expected online in the second quarter of 2028.

Key facts

• Targa’s Blackcomb pipeline joint venture project is designed to transport up to 2.5 Bcf/d through approximately 365 miles of 42-inch pipeline from the Permian Basin in West Texas to Agua Dulce in South Texas; it was expected to be in service in the fourth quarter of 2026. source
• The Blackcomb Joint Venture reached a final investment decision in April 2025 to construct the Traverse pipeline, designed to transport up to 2.5 Bcf/d through approximately 160 miles between Agua Dulce and Katy; it was expected to be in service in mid-2027. source
• Pipeline transportation and fractionation volumes benefited from higher supply volumes, primarily from Targa’s Permian Gathering and Processing systems, and the addition of Train 11 in the second quarter of 2026. source

Impact estimates