The "midstream" portion of the energy business is the link between the producing well and the
ultimate consumer. Midstream companies gather, treat, process, transport, and distribute hydrocarbons.
They deliver oil to refineries, gas to local distribution companies, and NGL’s to terminals where they
are moved to the end user.
Midstream is also the most complex portion of the value chain.
Its profitability and long term value depend on the outlook for both supply and demand, and its
opportunities are influenced by the economic drivers for multiple markets – refined products,
petrochemical feedstocks, power, and gas liquids.