HOUSTON (ICIS)--Targa Resources plans to construct a new common carrier natural gas liquids (NGL) pipeline from the Permian Basin to Mont Belveiu, Texas, the US-based midstream company said on Thursday.
The pipeline, which Targa has named Grand Prix, will transport volumes from the Permian Basin and from Targa's North Texas system to Targa's fractionation and storage complex in the NGL market hub at Mont Belvieu, the company said.
Targa expects the pipeline to be in service by the second quarter of 2019.
The company estimated Grand Prix’s capacity at 300,000 bbl/day, which could expand to 550,000 bbl/day, it said.
Grand Prix’s Total growth capital is expected to be approximately $1.3bn, Targa said, with approximately $250m of spending in 2017.