Houston-based Targa Resources said last week it will construct another cryogenic natural gas processing plant in Midland Basin to further expand its gathering and processing system in Permian Basin. Targa said Aug. 4 it will build and commission by 2023Q4 the new Greenwood plant (275MMcfd) following startup of two Permian plants now under construction in Upton County (Legacy I and II). Targa also said it will build a new 120,000 b/d fractionation Train 9 in Mont Belvieu on the Texas coast at a cost of $450 million to startup in 2024Q2 to handle growing volumes from Permian Basin.
Targa said the new gas processing plants in Permian Basin will be electric-driven to improve operational performance and enhance overall system flexibility. Growth of Targa’s Permian system follows its acquisition of Lucid Energy Delaware for $3.55 billion announced in June.