Robust natural gas project backlogs boost midstream growth and dividend outlook amid rising LNG exports and power demand.

North American natural gas midstream companies are experiencing unprecedented growth driven by surging LNG exports and increasing domestic power demand, including data centers. Major players like Enbridge have expanded their sanctioned project backlogs significantly, locking in long-term fee-based EBITDA growth supported by multi-decade contracts. This growth is fueled by expanding LNG export capacity and power generation needs, with companies investing billions in pipeline and infrastructure projects. The strong backlog visibility supports ongoing dividend growth, making natural gas infrastructure companies attractive for investors seeking exposure to rising natural gas demand.