White Papers

In Alerian’s efforts to help investors make informed decisions about MLPs and energy infrastructure, it highly prioritizes objective, transparent, and useful research. Below are the long-form white papers written as a result of these efforts. Additional research can be found in Alerian Insights.

US LNG Export Growth and the Benefits to Midstream

The US is on the brink of adding significant liquified natural gas (LNG) export capacity in 2019 and becoming a sizable player in the global LNG market. Additional export capacity will likely be needed to fill a looming global supply gap in the mid-2020’s. Within the US, midstream companies have a vested interest in seeing LNG export capacity grow, as LNG exports increase infrastructure demand and extend the runway for US natural gas production growth.

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Storage Oil Backwardation and Implications for MLPs

While oil storage assets play an important role in the energy value chain, they are not often in the spotlight. That is until the oil curve shifts into backwardation. With the oil curve backwardated, storage assets tend to garner more attention given the risk of lower utilization and re-contracting risk. In this piece, we discuss storage, oil curve backwardation, and the implications for MLPs with oil storage capacity.

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The Evolution of MLP and Energy Infrastructure Products

Since 2004, when the first MLP closed-end fund launched, there have been 112 MLP products issued in the form of ETFs, ETNs, mutual funds, and closed-end funds. The MLP product landscape continues to evolve and today, there are 94 MLP products remaining. This whitepaper walks through this evolution and provides context for where the market may be shifting to next.

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Crude Correlations and MLPs – The Biggest Frustration of 2017

Why have MLPs exhibited a higher correlation with WTI as oil fell and a lower correlation with WTI as oil prices improved from their February 2016 bottom? In this analysis, we examine MLPs’ correlation with crude at both the index level and individual MLP level.

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