On December 8, 2025, Energy Transfer LP presented at the Energy LIVE Conference in Houston, where VP Amy Chen Davis highlighted the Lake Charles LNG project and the company’s growing role in supplying gas infrastructure for AI-related power demand.
The presentation underscored how Energy Transfer’s expanding project backlog, including AI-linked infrastructure and its emerging flagship Hugh Brinson Pipeline, could enhance visibility and durability of future fee-based cash flows.
We’ll now examine how Energy Transfer’s expanding AI-related infrastructure backlog and new long-term contracts influence the existing investment narrative.
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To own Energy Transfer, you need to believe that long-lived, fee-based natural gas infrastructure will stay in demand, and that its large project backlog will translate into durable cash flows despite recent flat earnings and underperforming unit price returns. The Energy LIVE presentation reinforces this thesis by spotlighting AI-driven gas demand and the Hugh Brinson Pipeline, but it does not materially change the near term picture where execution risk on multi billion dollar builds remains the key swing factor.
Among recent announcements, the 20 year contract with Entergy Louisiana stands out as most relevant, because it shows how new long-term agreements can anchor returns on projects like Lake Charles LNG that were highlighted at the conference. When combined with fresh data center contracts, these deals help offset concerns that a meaningful portion of incremental AI and power-related demand is still not fully contracted or could be affected by permitting shifts.
Yet even with this growing AI-linked backlog, investors should be aware that a large share of future demand remains uncontracted and exposed to shifting regulation…
Read the full narrative on Energy Transfer (it’s free!)
Energy Transfer’s narrative projects $99.8 billion revenue and $6.7 billion earnings by 2028. This requires 7.4% yearly revenue growth and about a $2.2 billion earnings increase from $4.5 billion today.
Uncover how Energy Transfer’s forecasts yield a $21.55 fair value, a 30% upside to its current price.
ET 1-Year Stock Price Chart
Twenty three fair value estimates from the Simply Wall St Community span roughly US$13.78 to US$43.37 per unit, showing how far apart opinions can be. Against that backdrop, the reliance on multi billion dollar projects with permitting and execution risk gives you a concrete issue to test your own expectations against these different views.