MIL-OSI: Targa Resources Corp. Releases Sustainability Report

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Source: GlobeNewswire (MIL-OSI)

HOUSTON, Sept. 29, 2021 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that its Sustainability Report for 2020 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 against various environmental, social, and governance topics that are important to our industry.

Highlights of Targa’s 2020 Sustainability Report include the following:

  • Achieved a 34% decrease in flaring volumes from emissions events and a 16% decrease in the total number of flaring incidents
  • Developed a goal to reduce methane intensity to 0.08% for gathering and boosting segment and 0.11% for the processing segment by 2025
  • Reduced total recordable injury rate (TRIR) by more than 35% and days away, restricted, or transferred (DART) incident rate by more than 41% between 2017 and 2020
  • Implemented a new mobile safety app for reporting near misses and other hazards
  • Exported approximately 4.6 billion gallons of liquefied petroleum gas (“LPG”) globally in 2020 that can offset other, higher GHG-emitting fuels
  • Formed a new team focused on renewable power, carbon capture, and other business opportunities
  • Continued to successfully build a diverse workforce – 29% of workforce was from traditionally under-represented racial or ethnic groups; 24% of leaders across Targa were women
  • Established a Board-level Sustainability Committee 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 – Core option 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 midstream infrastructure assets. 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 natural gas liquids (“NGL”) 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, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the timing and success of business development efforts, 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

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