The business dynamics of Midstream Energy Companies Courtesy from Stock Photos Here is an excellent treatise on what are the key concepts in Midstream Energy companies, their revenue base, moats they enjoy and the risks they face... Main points are from Morning Star Research Analyst Joe Gemino, CPA The midstream industry processes, stores, markets and transports commodities such as crude oil, natural gas, natural gas liquids (NGLs, mainly ethane, propane and butane) and sulphur. The midstream links remote petroleum producing areas and the consumers are located. Transmission pipeline companies such as Enbridge, Transcanada Corp, Pembina Pipeline Corp are some of the main players in the midstream petroleum industry. Not surprisingly, most midstream companies are based in Calgary with operations extending to east coast and into the United States. They also lead to exporting terminals. Revenue Stream Companies in the midstream energy sector normally generate predic...