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Published by Allstream Insiders
Allstream Insiders Summary
Allstream Insiders counted 90 named midstream projects and project programs across 11 company announcements reviewed for the week ending August 8, 2026. The activity spans natural gas pipelines, gathering and processing plants, NGL transportation and fractionation, storage, marine terminals and export infrastructure across the United States, Canada and Mexico.
The U.S.-dollar announcements represent approximately $40.76 billion to $42.16 billion of combined capital visibility. That total includes $24.66 billion to $26.06 billion of 2026 company capital programs and $16.1 billion of separately reported projects-under-construction and backlog portfolios.
TC Energy’s figures remain separate because the company reports in Canadian dollars. TC Energy identified a C$22.3 billion secured project portfolio and expected C$6.0 billion to C$6.5 billion of 2026 capital expenditures.
Two acquisition announcements were also reviewed but were not added to the infrastructure-capital total: San Mateo Midstream’s $752 million Cardinal Midstream acquisition and Williams’ proposed acquisition of Momentum Midstream for up to $5.5 billion. Together, those transactions represent up to $6.252 billion of separate acquisition value.
How Much Midstream Capital Was Reported This Week?
The 11 announcements provide a combined view of $40.76 billion to $42.16 billion in U.S.-dollar capital programs, construction portfolios and project backlogs, plus a separately reported C$22.3 billion secured portfolio at TC Energy.
- 2026 U.S.-dollar capital programs: $24.66 billion to $26.06 billion
- U.S.-dollar projects under construction and backlog portfolios: $16.1 billion
- Combined U.S.-dollar capital visibility: $40.76 billion to $42.16 billion
- TC Energy secured portfolio: C$22.3 billion
- TC Energy expected 2026 capital expenditures: C$6.0 billion to C$6.5 billion
- Separate acquisition value: up to $6.252 billion
These figures should not be treated as spending that began during a single week. The companies use different reporting bases: some amounts are annual capital plans, while others are multiyear project portfolios or backlogs. Allstream counted each company-level capital figure once, kept Canadian-dollar figures separate and excluded acquisitions from the infrastructure-capital total.
Weekly Midstream Project and Capital Tracker
| Midstream company | Named projects or programs counted | Capital figure used in the weekly ledger | Basis of figure | Principal weekly milestone |
|---|---|---|---|---|
| Targa Resources | 15 | $4.5 billion | 2026 net growth capital estimate | East Driver, Train 11 and Delaware Express entered service as 12 additional projects advanced |
| Kinetik | 6 | Approximately $560 million | 2026 capital-expenditure plan, including maintenance | Final investment decision reached on the $260 million Kings Landing II plant |
| Phillips 66 | 6 Midstream projects | $1.10 billion | 2026 Midstream allocation, including sustaining and growth capital | Dos Picos II reached full production while Gulf Coast projects advanced |
| San Mateo Midstream / Matador Resources | 0 new capital projects; 1 acquisition | $752 million excluded from capital total | Completed acquisition value | San Mateo closed the Cardinal Midstream acquisition |
| MPLX | 14 | $2.9 billion | 2026 growth-capital outlook | Gulf Coast fractionation and pipeline projects continued to advance |
| Energy Transfer | 8 | $5.6 billion to $5.9 billion | 2026 growth-capital plan | Hugh Brinson Phase I entered service as pipeline, export and generation projects advanced |
| ONEOK | 7 | $2.7 billion to $3.2 billion | 2026 capital program | Greater Denver expansion reached mechanical completion while Texas City and Permian projects advanced |
| Williams | 2 new capital projects; 1 proposed acquisition | $7.3 billion to $7.9 billion | 2026 growth-capital range | Delta Access and Shelby Trough Connector announced alongside proposed Momentum acquisition |
| TC Energy | 17 | C$22.3 billion | Secured portfolio; kept separate from U.S.-dollar total | Natural gas projects advanced across Canada, the United States and Mexico |
| Enterprise Products Partners | 5 | $6.5 billion | Organic growth projects under construction | Two Permian gas plants and Frac 15 were added to the construction portfolio |
| Kinder Morgan | 10 | $9.6 billion | Project backlog | Pipeline, storage and terminal projects supported a multiyear infrastructure backlog |
| Weekly total | 90 projects or programs; 2 acquisitions | $40.76 billion to $42.16 billion, plus C$22.3 billion | U.S.-dollar capital visibility plus separate Canadian-dollar portfolio | Broad activity across gathering, processing, transportation, storage and export infrastructure |
Targa Advances 15 Projects Across the Permian and Gulf Coast
Targa Resources accounted for 15 named projects, the second-largest U.S. project count in the weekly review. East Driver, Train 11 and the Delaware Express expansion entered service, while 12 additional projects remained in development or execution.
The advancing portfolio includes Copperhead, Train 12, Bull Run Extension, Yeti, the Galena Park Marine Terminal LPG export expansion, Speedway, Yeti II, Roadrunner III, Copperhead II, Train 13, Buffalo Run and Forza. Targa estimated $4.5 billion of 2026 net growth capital.
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Kinetik Reaches FID on Kings Landing II
Kinetik reported six projects or grouped programs, led by a final investment decision on the $260 million Kings Landing II natural gas processing plant. The 300 MMcf/d facility is targeted for service in mid-2028.
The remaining activity includes the ECCC Pipeline, Kings Landing acid-gas-injection and sour-gas conversion work, Diamond Volt, Next Cryo and pipeline connections associated with two power projects. Kinetik set its 2026 capital-expenditure plan at approximately $560 million, including maintenance. The Kings Landing II amount is not added again because it sits within the company’s broader capital outlook.
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Phillips 66 Advances Six Midstream Projects
Phillips 66 reported six projects within its Midstream business: Dos Picos II, Iron Mesa, the Coastal Bend NGL Pipeline Expansion, the Zeus Gas Plant, Midland Express Pipeline and a third Coastal Bend fractionator.
Dos Picos II reached full production, while the remaining projects supported additional Permian-to-Gulf Coast processing, transportation and fractionation capacity. For this weekly Midstream ledger, Allstream used the company’s $1.10 billion 2026 Midstream allocation, not the approximately $2.4 billion companywide capital budget.
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San Mateo Closes Cardinal Midstream Acquisition
San Mateo Midstream closed its $752 million acquisition of Cardinal Midstream’s Delaware Basin assets. The acquired system includes a 320 MMcf/d processing complex, approximately 145 miles of gathering pipelines, two residue-gas connections and four NGL connections.
Allstream categorized the announcement as one completed acquisition rather than a newly announced capital project. Its $752 million transaction value is therefore excluded from the capital-project subtotal.
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MPLX Tracks 14 Named Assets and Projects
MPLX represented 14 named projects and assets in the weekly count. They include Secretariat I, Harmon Creek III, Bay Runner, Bay Runner Twin, the Titan Complex, BANGL Pipeline, Blackcomb Pipeline, Traverse Pipeline, two Gulf Coast fractionators, a Gulf Coast LPG export-terminal joint venture, the Marcellus Gathering System Expansion, Eiger Express and Secretariat II.
MPLX increased its 2026 growth-capital outlook to $2.9 billion as Gulf Coast fractionation, pipeline and export infrastructure moved forward.
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Energy Transfer Advances Eight Projects Under a $5.6 Billion to $5.9 Billion Plan
Energy Transfer reported eight projects and programs. Hugh Brinson Pipeline Phase I entered service, while the Abilene lateral, Desert Southwest Pipeline, Springerville Lateral, Nederland NGL Export Terminal expansion, Lone Star Express upgrades, Mustang Draw I and a West Texas generation program remained active.
The company’s 2026 growth-capital plan ranges from $5.6 billion to $5.9 billion. Individual project values identified in the announcement are not added on top of that plan because doing so could count the same capital more than once.
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ONEOK Moves Seven Projects Through Construction and Development
ONEOK accounted for seven projects: the Greater Denver refined-products expansion, the Medford fractionator rebuild, Delaware Basin processing expansions, the Bighorn processing plant, Texas City Logistics export terminal, MBTC Pipeline and Eiger Express Pipeline.
The Greater Denver project reached mechanical completion as ONEOK continued work across the Mid-Continent, Permian Basin and Gulf Coast. The company’s 2026 capital program ranges from approximately $2.7 billion to $3.2 billion.
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Williams Adds Two Haynesville Projects and a Proposed Acquisition
Williams announced two new capital projects tied to Haynesville natural gas demand: Delta Access and the Shelby Trough Connector.
Delta Access is a proposed $1.5 billion, 2.25 Bcf/d project targeted for first-quarter 2029 service. The 64-mile Shelby Trough Connector is designed for 750 MMcf/d of initial capacity, expandable to 1.5 Bcf/d, with service targeted for the second quarter of 2028.
Williams also agreed to acquire Momentum Midstream for up to $5.5 billion. The proposed transaction is tracked separately from the company’s $7.3 billion to $7.9 billion 2026 growth-capital range and is not included in the infrastructure-capital subtotal.
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TC Energy Tracks 17 Natural Gas Projects Across Three Countries
TC Energy had the largest project count in the weekly review, with 17 named natural gas pipeline projects and programs across Canada, the United States and Mexico.
The list includes the NGTL System program; Gillis Access Extension; Heartland; Northwoods; Pulaski; Maysville; Clark; Central Virginia Capacity; Appalachia Supply; Southeast Virginia Energy Storage; Villa de Reyes South; Tula; Valhalla North; Berland River; a Canadian Mainline Empress conditional investment; the Coastal GasLink Phase 2 development opportunity; and Bison XPress.
TC Energy reported a C$22.3 billion secured project portfolio and expected C$6.0 billion to C$6.5 billion of 2026 capital expenditures. The portfolio includes more than the 17 natural gas items counted here and is reported in Canadian dollars, so Allstream did not combine it with the U.S.-dollar total.
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Enterprise Adds Two Gas Plants and Frac 15
Enterprise Products Partners reported five growth projects: Plant 13, Plant 11, Frac 15, Neches River Terminal Phase 2 and an LPG expansion at the Enterprise Hydrocarbons Terminal.
The two Permian gas plants and Frac 15 expanded Enterprise’s processing and fractionation buildout, while the terminal projects advanced additional Gulf Coast export capacity. Enterprise reported $6.5 billion of organic growth projects under construction.
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Kinder Morgan Maintains a 10-Project Backlog
Kinder Morgan accounted for 10 named projects: South System Expansion 4, Mississippi Crossing, South Texas Enhancement, Amarillo Expansion, Pasadena Terminal Expansion, Kinder Morgan Export Terminal Expansion, Western Gateway Pipeline, Cumberland, Hiland Express and Gulf Coast Express Expansion.
The company’s $9.6 billion project backlog spans natural gas transportation, refined-products infrastructure, storage and export facilities. Because the backlog is a multiyear portfolio, the full value should not be described as 2026 spending.
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What Could the 90-Project Pipeline Mean for the Industrial Supply Chain?
The weekly ledger shows activity across nearly every segment of the midstream value chain. If the reported projects continue through engineering, procurement and construction, they could create opportunities involving:
- Pipeline engineering, construction, pipeline integrity work and compression
- Cryogenic gas processing and treating equipment
- NGL fractionation, storage and interconnects
- Marine terminal, dock and export-loading infrastructure
- Electrical, instrumentation, controls and automation
- Civil work, foundations, pressure vessel fabrication, structural steel, piping, SIPA, and modular fabrication
- Turnaround integration, commissioning and startup support
These categories are an Allstream assessment of work commonly associated with the reported project types. They are not company-announced bid packages, contract awards or procurement schedules.
Allstream Perspective
The strongest signal from the week is not one project or one company. It is the breadth of simultaneous midstream development: 90 named projects and programs spanning production basins, long-haul pipelines, processing and fractionation hubs, storage sites and Gulf Coast export terminals.
Targa and TC Energy led the named-project count, while Kinder Morgan, Williams, Enterprise and Energy Transfer represented the largest U.S.-dollar capital and backlog figures in the review. The categories are not directly comparable, but together they show a deep queue of infrastructure moving through development, construction, startup and operation.
For contractors and suppliers, the value of the weekly ledger is in tracking project maturity rather than treating every headline dollar as immediately available work. Final investment decisions, mechanical completions, in-service dates and newly added construction projects provide the clearest signals about where future commercial opportunities could develop.
