Description

Targa Resources Corp., along with its affiliated entity, Targa Resources Partners LP, operates as a prominent North American midstream energy enterprise. Its business encompasses the ownership, management, procurement, and expansion of essential energy infrastructure. The company's activities are broadly categorized into two key divisions: Gathering and Processing, and Logistics and Transportation. Within its operations, Targa undertakes a comprehensive array of services for natural gas, including its collection, compression, purification, processing, conveyance, and final distribution. Similarly, for natural gas liquids (NGLs) and their derivatives, it provides storage, fractionation, treatment, transportation, and sales services, extending its support to liquefied petroleum gas (LPG) exporters. The firm also handles crude oil through gathering, storage, terminal operations, purchasing, and sales. Furthermore, its logistics functions involve the acquisition and resale of NGL products, alongside the wholesale distribution of propane. This includes offering associated logistical support to a diverse clientele, ranging from multi-state and independent retailers to various other end-users. Targa additionally delivers NGL balancing solutions and transportation pathways for refineries and petrochemical facilities situated in the Gulf Coast region. It also actively procures, markets, and resells natural gas. The company's extensive infrastructure network features approximately 28,400 miles of natural gas pipelines and 42 owned or operated processing plants. It possesses or manages a total of 34 underground storage wells, boasting a substantial gross capacity of about 76 million barrels. As of December 31, 2021, Targa's assets further comprised the leasing and management of roughly 648 railcars, 119 transport tractors, and two company-owned pressurized NGL barges. Established in 2005, the corporation maintains its headquarters in Houston, Texas.