While advancing projects to sustain exploration and production companies vying for the coming boom in the LNG export market, DT Midstream Inc. (DTM) executives said the firm also would focus on supporting power demand from industrial users to underpin the natural gas market.
The Detroit-based company increased 2024 capital guidance to $330-375 million from previous guidance of $265-375 million to fund projects reaching final investment decision, CEO David Slater said during a call to discuss second quarter earnings.
“In spite of the choppiness in the short-term market, which is trading on weather, our portfolio has remained very durable, and we continue to be bullish on the need for natural gas infrastructure in the long-term,” Slater said.