04:52 PM EDT, 09/30/2025 (MT Newswires) -- Targa Resources ( TRGP ) said late Tuesday it will start new organic projects to support natural gas liquids and natural gas production growth in the Permian Basin to match infrastructure needs of its clients.

Targa will construct the Speedway NGL pipeline spanning nearly 500 miles to transport natural gas liquids with an initial capacity of 500,000 barrels per day from Targa's assets and future plant additions in the Permian Basin to its fractionation and storage complex in Mont Belvieu, Texas. The pipeline is expected to cost $1.6 billion and be operational in Q3 2027, the company said.

For future growth on Targa's Permian Delaware system, the company will construct a 275 million cubic feet per day gas processing plant, called the Yeti plant, expected to be operational in Q3 2027. In total, Targa is building five gas processing plants in the Permian that will be in service over the next two years, with a total inlet capacity of 1.4 billion cubic feet per day and NGL production of up to 200,000 barrels per day, according to a statement.

Targa will also construct a 35-mile natural gas pipeline to improve connectivity across its plants in the Permian Midland and convert a 55-mile existing pipeline into natural gas service to connect the company's Midland and Delaware intra-basin natural gas systems. The new pipeline and the conversion are expected to be fully completed in early 2028, according to the company.