North American Midstream and LNG CAPEX Surge

Targa Resources locks in 20-year ExxonMobil dedications with 825 MMcf/d new gas plants and Bull Run II pipeline by 2028, raising 2026 growth capex to $5B. Solitude pipeline reaches FID (2.25 Bcf/d each), Select Water signs 12-year contract. OpenAI leases 8 GW in Ohio with 9.2 GW gas-fired power plan, driving data center gas demand. Venture Global Plaquemines fast-tracked, Delfin signs additional SPA. Strong midstream and LNG investment signals.