Midstream offers great career choices, Lamar study says
Conventional wisdom says the midstream industry represents a poor career choice, according to an essay published by Lamar University’s Center for Midstream Management & Science.
Its author argues this narrative must be challenged, as it degrades the sector’s ability to attract qualified people. These facts should be considered: U.S. midstream capital expenditures were USD 40 billion in 2023, and more than USD 150 billion in midstream investment will be needed over the next decade to transport natural gas from shale basins to end-users. Considering U.S. Gulf Coast LNG facilities, USD 800 billion of capital investment is needed.
The market capitalisation of the top 48 U.S. public midstream companies is approximately USD 609 billion, representing USD 441 billion of revenue and USD 55 billion of profit. The midstream industry employs 350,000 people in North America and this number is forecast to increase to 381,000 by 2035. Nearly half of U.S. pipelines are over 50 years old and need significant capital for maintenance or replacement. The U.S. Energy Information Administration forecasts fossil fuels will comprise 70% of the world’s primary energy sources in 2050, down from 79% in 2022. Hydrocarbon liquids consumption is expected to rise 22%, and natural gas consumption is expected to rise 29% by 2050. The author argues the facts make it clear, the midstream industry offers outstanding career choices. Read the essay at: Challenging Conventional Wisdom Impacting the Midstream Industry (lamar.edu)
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