Targa NGL Pipeline Company Launches Open Season
July 01 2020 - 7:00AM
Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company")
announced today that Targa NGL Pipeline Company LLC (“Targa NGL
Pipeline”), a wholly owned subsidiary of the Company, has launched
an open season commencing July 1, 2020 and closing July 31, 2020 to
gauge shipper interest in committed interstate transportation
service for natural gas liquids (“NGLs”) from a planned
interconnection with upstream pipeline facilities in Kingfisher
County, Oklahoma to Mont Belvieu, Texas. As announced in February
2019, Targa NGL Pipeline is currently developing an approximately
110-mile extension of Targa’s existing Grand Prix pipeline system
to the new Kingfisher County interconnection where it will connect
with Williams’ new Bluestem Pipeline.
This open season will provide an opportunity for
shippers to secure firm capacity for NGL transportation subject to
the terms of their transportation service agreements (“TSAs”). The
final volume of capacity for both committed and uncommitted service
on the project will be determined by Targa in part based on the
results of this open season.
It is recommended that interested potential
shippers submit signed NDAs on or before 5:00 p.m. Central Standard
Time, July 6, 2020, to give those shippers adequate time to
evaluate the open season documents. Please visit Targa’s online
Tariff Directory to view the Open Season Notice and download a copy
of the NDA. Inquiries about the Open Season or this notice should
be directed to:
Bill GranthamVP OperationsTarga NGL Pipeline Company LLC811
Louisiana Street, Suite 2100Houston, TX
77002-1400bgrantham@targaresources.com
About Targa Resources Corp.
Targa Resources Corp. is a leading provider of
midstream services and is one of the largest independent midstream
energy companies in North America. Targa owns, operates, acquires,
and develops a diversified portfolio of complementary midstream
energy assets. The Company is primarily engaged in the business of:
gathering, compressing, treating, processing, and selling natural
gas; transporting, storing, fractionating, treating, and selling
NGLs and NGL products, including services to LPG exporters; and
gathering, storing, terminaling, and selling crude oil.
For more information, please visit the Company’s
website at www.targaresources.com.
Forward-Looking Statements
Certain statements in this release are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical facts, included in this release that
address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future,
are forward-looking statements. These forward-looking statements
rely on a number of assumptions concerning future events and are
subject to a number of uncertainties, factors and risks, many of
which are outside the Company’s control, which could cause results
to differ materially from those expected by management of the
Company. Such risks and uncertainties include, but are not limited
to, weather, political, economic and market conditions, including a
decline in the price and market demand for natural gas, natural gas
liquids and crude oil, the impact of pandemics such as COVID-19,
actions by the Organization of the Petroleum Exporting Countries
(“OPEC”) and non-OPEC oil producing countries, the timing and
success of business development efforts, and other uncertainties.
These and other applicable uncertainties, factors and risks are
described more fully in the Company’s filings with the Securities
and Exchange Commission, including its Annual Report on Form 10-K
for the year ended December 31, 2019, and any subsequently filed
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The
Company does not undertake an obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Contact the Company's investor relations
department by email at InvestorRelations@targaresources.com or by
phone at (713) 584-1133.
Sanjay LadSenior Director, Finance &
Investor Relations
Jennifer KnealeChief Financial Officer
Targa Resources (NYSE:TRGP)
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