Americas Pipelines and MLPs Key Takeaways From EIC

Goldman Sachs reports a positive shift in midstream management sentiment at the EIC conference, highlighting massive natural gas demand growth from data centers and a 2027 Permian supply recovery.

Key Takeaways

• 1.Management sentiment in the midstream sector has turned notably positive following the EIC conference, driven by durable themes in natural gas demand and infrastructure requirements.
• 2.A significant wave of incremental Permian natural gas supply is expected to be unlocked as new egress pipelines open in late 2026 and 2027.
• 3.The sector is experiencing a fundamental shift from 'supply-push' to 'demand-pull' dynamics, largely fueled by power demand for data centers and coal retirements.

Table of Contents

• DT Midstream (DTM)
• Energy Transfer (ET)
• Enterprise Products (EPD)
• Hess Midstream (HESM)
• Kinder Morgan (KMI)
• Kinetik (KNTK)
• Kodiak Gas (KGS)
• MPLX LP (MPLX)
• Cheniere Energy (LNG/CQP)
• Plains All American (PAA/PAGP)
• Phillips 66 (PSX)
• Targa Resources (TRGP)
• Williams Co. (WMB)
• Valuation and Risks
• Disclosure Appendix

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