Targa Resources has announced it would begin construction on the Daytona Natural Gas Liquids (NGL) Pipeline. The Daytona NGL Pipeline is planned as an extension to the company’s Grand Prix Pipeline.
Once completed, the Daytona segment will commence in the Permian Basin in western Texas and southeastern New Mexico. From there, it will travel eastward until it meets Targa’s existing Grand Prix Pipeline at Targa’s northern Texas hub.
It is anticipated that as many as 500,000 barrels of oil per day will be transported along the Grand Prix Pipeline to Targa’s Mont Belvieu fractionation and storage facility in southeastern Texas, near the Gulf Coast.
The Grand Prix Pipeline already impacts 37 counties throughout Texas, like Sterling County, Ellis County, and Midland County, as well as Eddy County in New Mexico. The list of impacted counties will likely grow with the addition of the Daytona NGL Pipeline.
Overall, the Daytona NGL Pipeline project is expected to be completed by the end of 2024 and cost approximately $650 million.