Report
Travis Miller
EUR 100.00 For Business Accounts Only

The Natural Gas Liquids Rubik's Cube Solved

In our new natural gas liquids forecast, we expect NGL production and exports of 6.7 million and 3 million barrels per day by 2022, respectively, above the consensus forecast. U.S. NGL supply will increase about 2.2 million bpd over the next five years compared with our forecast of 2.3 million bpd for oil, making it critical to continued U.S. liquids supply growth. Consensus U.S. NGL production estimates are as low as 4.5 million bpd, which implies that the U.S. cannot supply enough ethane to me...
Underlying
Energy Transfer Operating L.P

Energy Transfer Partners, through its subsidiaries, conduct activities such as natural gas operations; and interstate natural gas transportation and storage; and crude oil, natural gas liquid and refined product. The company's segment includes: Intrastate Transportation and Storage, which owns and operates a natural gas open-access interstate pipeline network; Midstream, which consists of natural gas gathering, compression, treating, processing, storage, and transportation; NGL and Refined Products Transportation and Services, which transport, store and execute acquisition and marketing activities utilizing a network of pipelines, storage and blending facilities.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Travis Miller

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