U.S. pipeline companies eye nat gas infrastructure for growth

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U.S. midstream companies have set their sights on natural gas pipelines and export terminals as a key growth opportunity as investor pressures and political headwinds make new crude oil pipeline projects unpalatable.

U.S. pipeline operators are expected to have benefited from high oil and gas prices and rising domestic production in the second quarter, though some analysts warn that the decline in consumer demand late in the quarter could affect results.

Earnings per share for five of the top U.S. oil pipeline companies are expected to have grown about 15% from the year ago period, according to a Reuters analysis.Natural gas projects are expected to be the mainstay of growth in coming years as production rises and shippers find new customers in Europe, which is trying to wean itself off of Russian energy, and in Asia, where many countries are boosting imports of LNG.

"The biggest opportunity right now is primarily in serving LNG, whether it's adding U.S. export capacity or building pipelines to bring the gas to LNG terminals," said Stephen Ellis, a strategist at financial services firm Morningstar.

 

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