13:59:38 EDT Sat 10 Jun 2023
Enter Symbol
or Name

Targa Resources Corp. Releases Sustainability Report

2022-10-03 07:00 ET - News Release

HOUSTON, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that its Sustainability Report for 2021 is now available on the Company's website at https://www.targaresources.com/sustainability. The report advances Targa's sustainability disclosures and provides a review of Targa's performance for calendar year 2021 against various environmental, social, and governance topics that are important to our industry.

Highlights of Targa's Sustainability Report for the 2021 calendar year include the following:

  • Reduced scope 1 plus scope 2 GHG intensity by 12%
  • Reduced flaring volumes from emissions events by 40%
  • Exported approximately 4.9 billion gallons of liquefied petroleum gas ("LPG") globally in 2021 that can offset higher GHG-emitting fuels
  • Completed aerial methane detection on 13,000 miles of pipelines and 162 surface facilities in the Permian
  • Decreased its preventable vehicle accident rate by 31%
  • Received the International Liquid Terminals Association (ILTA) safety excellence award for the second year in a row
  • 25% of our Board of Directors were women; and 17% of our Board of Directors were from traditionally under-represented racial or ethnic groups
  • Our Board-level Sustainability Committee continues to oversee management's implementation of strategy to integrate sustainability into various business activities to create long-term stakeholder value

The report references the Global Reporting Initiative (GRI) Standards and Sustainability Accounting Standards Board (SASB) Oil & Gas - Midstream Standard.

About Targa Resources Corp.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company's assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.

Targa is a FORTUNE 500 company and is included in the S&P 400.

For more information, please visit the Company's website at www.targaresources.com.

Forward-Looking Statements

Certain statements in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements.

These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company's control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics such as COVID-19, commodity price volatility due to ongoing conflict in Ukraine, actions by the Organization of the Petroleum Exporting Countries ("OPEC") and non-OPEC oil producing countries, the timing and success of business development efforts, expected benefits relating to the Delaware Basin acquisition and their impact on the Company's results of operations, and other uncertainties.

These and other applicable uncertainties, factors and risks are described more fully in the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact the Company's investor relations department by email at
InvestorRelations@targaresources.com or by phone at (713) 584-1133.

Sanjay Lad
Vice President, Finance & Investor Relations

Jennifer Kneale
Chief Financial Officer

© 2023 Canjex Publishing Ltd. All rights reserved.