TARGA RESOURCES CORP

Targa Resources Corp is a major midstream natural gas operator whose core business is the gathering, processing, and transportation of fossil fuels. The company operates an extensive network of pipelines, processing plants, and fractionation facilities primarily across the Permian Basin and other key U.S. production regions. Its operations are integral to the fossil fuel supply chain, moving natural gas and natural gas liquids from wells to market.

The company's lack of a transition plan away from fossil fuels is evident. A May 2024 analysis notes Targa Resources faces increasing risks from its lack of operational greenhouse gas emission reduction targets aligned with a 1.5°C pathway. Its business model remains firmly tied to expanding fossil fuel infrastructure, with no announced plan to phase out its core midstream assets.

Targa Resources Corp is an independent midstream oil and gas company whose business operations span the full fossil fuel value chain. Its primary activities include gathering, compressing, treating, processing, and transporting natural gas and natural gas liquids (NGLs). The company reported net income attributable to Targa Resources Corp of $1.9 billion for the full year 2025, a significant increase from $1.3 billion in 2024, indicating substantial and growing financial reliance on fossil fuel infrastructure.

In December 2025, the company demonstrated its commitment to expanding this infrastructure by announcing the acquisition of a Permian Basin gathering and processing system for $1.25 billion. This acquisition reinforces its core midstream operations in a key U.S. oil and gas basin. The company’s operations are integral to the transportation and processing of fossil fuels, connecting upstream production to downstream markets.