Midstream & LNG - Q1 2026

Selective Build with Corridor-Driven Durability

Midstream is not in a commodity cycle - it is in an infrastructure cycle. The sector is in a selective-build phase for gas/LNG and NGL export corridors, while mature crude and refined-products logistics increasingly resembles recontracting and optimization. In this market, the edge is not chasing throughput - it is owning the right corridors, underwriting contract durability, and compounding per‑share value through disciplined capital allocation and operator‑grade execution.

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Disclaimer: This material is provided for general informational purposes only and does not constitute tax, legal, regulatory, accounting, investment, or other professional advice. It reflects the author’s interpretation of publicly available proposed rules as of the publication date; those rules may change, and final guidance and application may differ materially. Nothing herein constitutes an offer or solicitation to buy or sell any security, commodity, or financial instrument.