TRGP · 10-Q · 2026Q3 · Full report
NGL Fractionation Expansion
Targa Resources Corp. · 2026-11-05 · Importance 52 · Surprise 42 · In source text
Targa’s new Mont Belvieu fractionation trains have capacity of 150 MBbl/d each. Train 11 commenced operations in the second quarter of 2026, and Train 12 commenced operations in the fourth quarter of 2026. Train 13 is expected to start in the first quarter of 2028, while Train 14, announced in November 2026, is expected to start in the first quarter of 2029.
Key facts
- Targa’s Train 12, a 150 MBbl/d fractionation train in Mont Belvieu, Texas, commenced operations in the fourth quarter of 2026. source
- Targa’s Train 13, a 150 MBbl/d fractionation train in Mont Belvieu, Texas, was expected to begin operations in the first quarter of 2028. source
- In November 2026, Targa announced plans to construct Train 14, a new 150 MBbl/d fractionation train in Mont Belvieu, Texas, expected to begin operations in the first quarter of 2029. source
- Targa’s Train 11, a 150 MBbl/d fractionation train in Mont Belvieu, Texas, commenced operations in the second quarter of 2026. source
- Targa’s fractionation volumes were 1,204.7 MBbl/d for the nine months ended September 30, 2026, compared with 1,028.3 MBbl/d in 2025. source
- Targa’s fractionation volumes were 1,261.5 MBbl/d for the three months ended September 30, 2026, compared with 1,134.3 MBbl/d in 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | — | Targa’s Train 12, a 150 MBbl/d fractionation train in Mont Belvieu, Texas, commenced operations in the fourth quarter of 2026. |
| revenue | positive | committed | — | Targa’s Train 13, a 150 MBbl/d fractionation train in Mont Belvieu, Texas, was expected to begin operations in the first quarter of 2028. |
| revenue | positive | probable | — | In November 2026, Targa announced plans to construct Train 14, a new 150 MBbl/d fractionation train in Mont Belvieu, Texas, expected to… |