{"id":821423,"date":"2025-07-10T03:48:42","date_gmt":"2025-07-09T19:48:42","guid":{"rendered":"https:\/\/ztylezman.com\/?p=821423"},"modified":"2025-07-10T03:48:42","modified_gmt":"2025-07-09T19:48:42","slug":"energy-sectors-growth-outlook","status":"publish","type":"post","link":"https:\/\/ztylezman.com\/ja\/markets-ja\/energy-sectors-growth-outlook\/","title":{"rendered":"\u30a8\u30cd\u30eb\u30ae\u30fc\u5e02\u5834\u306e\u4e00\u89d2\u3001\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u9700\u8981\u3067\u5229\u76ca\u898b\u8fbc\u307f"},"content":{"rendered":"<p>\u30a8\u30cd\u30eb\u30ae\u30fc\u5e02\u5834\u306e\u4e00\u89d2\u304c\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u306b\u3088\u308b\u5929\u7136\u30ac\u30b9\u71c3\u6599\u306e\u96fb\u529b\u9700\u8981\u306e\u9ad8\u307e\u308a\u306b\u4f34\u3044\u3001\u4eca\u5f8c\u5229\u76ca\u3092\u5f97\u308b\u898b\u8fbc\u307f\u3067\u3059\u3002TD 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Cowen\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u30c1\u30fc\u30e0\u306f\u3001\u5929\u7136\u30ac\u30b9\u4e2d\u6d41\u4f01\u696d\u304c\u77f3\u6cb9\u304a\u3088\u3073\u30ac\u30b9\u88fd\u54c1\u3092\u79fb\u52d5\u3055\u305b\u308b\u305f\u3081\u306e\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\u3084\u30a4\u30f3\u30d5\u30e9\u3092\u6240\u6709\u3057\u3066\u304a\u308a\u3001\u3053\u306e\u9700\u8981\u306f2030\u5e74\u4ee3\u307e\u3067\u7d9a\u304f\u3068\u8ff0\u3079\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u4ed6\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u3068\u6bd4\u8f03\u3057\u3066\u3001\u5b89\u5b9a\u3057\u305f\u53ce\u76ca\u3068\u914d\u5f53\u6210\u9577\u3092\u898b\u8fbc\u3081\u308b\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p><!-- \/wp:paragraph -->\n<!-- wp:paragraph --><p>\u30a2\u30ca\u30ea\u30b9\u30c8\u306f\u300c\u56fd\u5185\u306e\u6d88\u8cbb\u306e\u6700\u5927\u306e\u5897\u52a0\u306f\u5357\u6771\u90e8\u306b\u96c6\u4e2d\u3059\u308b\u300d\u3068\u8a00\u3044\u3001 &#8220;\u3053\u306e\u5730\u57df\u306b\u306f\u4f59\u5270\u306e\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\u5bb9\u91cf\u304c\u9650\u3089\u308c\u3066\u3044\u308b\u305f\u3081\u3001\u65b0\u305f\u306a\u6d88\u8cbb\u306f\u5bb9\u91cf\u306e\u8ffd\u52a0\u306b\u3088\u3063\u3066\u5bfe\u5fdc\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b&#8221;\u3068\u6307\u6458\u3057\u3066\u3044\u307e\u3059\u3002TD Cowen\u306f\u3001\u6210\u9577\u30c8\u30ec\u30f3\u30c9\u3092\u6d3b\u7528\u3059\u308b\u6e96\u5099\u304c\u6574\u3063\u305f\u4e2d\u6d41\u30a8\u30cd\u30eb\u30ae\u30fc\u682a\u306e\u4e00\u7fa4\u3092\u5f37\u304f\u63a8\u5968\u3057\u3066\u3044\u307e\u3059\u3002<\/p><!-- \/wp:paragraph -->\n<!-- wp:paragraph --><p>\u7279\u306b\u3001Kinder Morgan\uff08KMI\uff09\u304cTD Cowen\u306e\u30c8\u30c3\u30d7\u30d4\u30c3\u30af\u3068\u3057\u3066\u6d6e\u4e0a\u3057\u307e\u3057\u305f\u30022025\u5e74\u306b\u306f\u682a\u4fa1\u304c1%\u4e0a\u6607\u3057\u3066\u304a\u308a\u3001\u73fe\u5728\u306e\u914d\u5f53\u5229\u56de\u308a\u306f4.2%\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u30a6\u30a9\u30fc\u30eb\u8857\u3067\u3082\u597d\u8a55\u3067\u300121\u4eba\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u4e2d13\u4eba\u304c\u300c\u8cb7\u3044\u300d\u307e\u305f\u306f\u300c\u5f37\u3044\u8cb7\u3044\u300d\u3068\u8a55\u4fa1\u3057\u3001\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u306e\u4fa1\u683c\u76ee\u6a19\u306f12%\u306e\u4e0a\u6607\u3092\u793a\u5506\u3057\u3066\u3044\u307e\u3059\u3002\u30a2\u30ca\u30ea\u30b9\u30c8\u306e\u30b8\u30a7\u30a4\u30bd\u30f3\u30fb\u30b2\u30a4\u30d9\u30eb\u30de\u30f3\u6c0f\u306f\u3001\u300cKMI\u306f\u5929\u7136\u30ac\u30b9\u9700\u8981\u306e\u6210\u9577\u306b\u5bfe\u3059\u308b\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u3042\u308a\u3001\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u30d0\u30e9\u30f3\u30b9\u304c\u826f\u597d\u3060\u300d\u3068\u8ff0\u3079\u300134\u30c9\u30eb\u306e\u4fa1\u683c\u76ee\u6a19\u306f\u3001\u706b\u66dc\u65e5\u306e\u7d42\u5024\u304b\u3089\u307b\u307c21%\u306e\u4e0a\u6607\u3092\u610f\u5473\u3057\u307e\u3059\u3002\u30a2\u30ca\u30ea\u30b9\u30c8\u306f\u3001\u5357\u90e8\u30a2\u30e1\u30ea\u30ab\u306e\u5897\u5927\u3059\u308b\u9700\u8981\u306b\u3057\u3063\u304b\u308a\u3068\u5bfe\u5fdc\u3067\u304d\u308b\u4f53\u5236\u304c\u6574\u3063\u3066\u3044\u308b\u3068\u3057\u3066\u3044\u307e\u3059\u3002<\/p><!-- \/wp:paragraph -->\n<!-- wp:paragraph --><p>\u307e\u305f\u3001Williams Companies\uff08WMB\uff09\u3082TD Cowen\u304b\u3089\u652f\u6301\u3092\u53d7\u3051\u3066\u3044\u307e\u3059\u3002\u300cWMB\u306f\u5929\u7136\u30ac\u30b9\u9700\u8981\u306e\u6210\u9577\u306b\u6700\u3082\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u3042\u308a\u3001\u9b45\u529b\u7684\u306a\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u30d0\u30c3\u30af\u30ed\u30b0\u304c\u62e1\u5927\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u305f\u3081\u3001\u8cb7\u3044\u3067\u3059\u300d\u3068\u30b2\u30a4\u30d9\u30eb\u30de\u30f3\u6c0f\u306f\u8ff0\u3079\u300167\u30c9\u30eb\u306e\u682a\u4fa1\u76ee\u6a19\u306f\u706b\u66dc\u65e5\u306e\u7d42\u5024\u304b\u308916%\u306e\u4e0a\u6607\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u30022025\u5e74\u306b\u306f\u682a\u4fa1\u304c\u307b\u307c7%\u4e0a\u6607\u3057\u3066\u304a\u308a\u3001\u73fe\u5728\u306e\u914d\u5f53\u5229\u56de\u308a\u306f\u7d043.5%\u3067\u3059\u3002\u5206\u6790\u306b\u3088\u308c\u3070\u300113\u4eba\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u304cWMB\u3092\u300c\u8cb7\u3044\u300d\u307e\u305f\u306f\u300c\u5f37\u3044\u8cb7\u3044\u300d\u3068\u8a55\u4fa1\u3057\u3066\u304a\u308a\u3001\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u4fa1\u683c\u76ee\u6a19\u306f\u7d048%\u306e\u4e0a\u6607\u3092\u793a\u5506\u3057\u3066\u3044\u307e\u3059\u3002<\/p><!-- \/wp:paragraph -->\n<!-- wp:paragraph --><p>Energy Transfer LP\uff08ET\uff09\u3082TD Cowen\u306b\u3088\u3063\u3066\u6ce8\u76ee\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u300cET\u306f\u3001\u305d\u306e\u73fe\u884c\u306e\u8a55\u4fa1\u3092\u652f\u3048\u308b\u660e\u78ba\u306a\u6210\u9577\u304c\u3042\u308a\u3001\u5927\u304d\u306a\u5929\u7136\u30ac\u30b9\u306e\u30d7\u30ec\u30bc\u30f3\u30b9\u304b\u3089\u306e\u5897\u5206\u6210\u9577\u306e\u6f5c\u5728\u80fd\u529b\u3092\u8003\u616e\u3057\u3066\u3001\u8cb7\u3044\u3067\u3059\u300d\u3068\u8ff0\u3079\u3066\u3044\u307e\u3059\u3002TD Cowen\u306e\u4fa1\u683c\u76ee\u6a19\u306f1\u682a22\u30c9\u30eb\u3067\u3001\u706b\u66dc\u65e5\u306e\u7d42\u5024\u304b\u3089\u307b\u307c24%\u306e\u4e0a\u6607\u3092\u610f\u5473\u3057\u307e\u3059\u3002Energy 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Transfer\u306e\u914d\u5f53\u5229\u56de\u308a\u306f7.4%\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u7a0e\u52d9\u5831\u544a\u306e\u8907\u96d1\u3055\u306b\u3082\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3001\u6295\u8cc7\u5bb6\u306f\u7a0e\u52d9\u7533\u544a\u306e\u305f\u3081\u306b\u53ce\u5165\u306e\u5206\u914d\u3092\u8a73\u7d30\u306b\u8a18\u8f09\u3057\u305f\u30b9\u30b1\u30b8\u30e5\u30fc\u30ebK-1\u304c\u5fc5\u8981\u3067\u3059\u3002\u3053\u308c\u304c\u9045\u308c\u308b\u3068\u3001\u6295\u8cc7\u5bb6\u306f\u7533\u544a\u671f\u9650\u306e\u5ef6\u9577\u3092\u4f59\u5100\u306a\u304f\u3055\u308c\u308b\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002<\/p><!-- \/wp:paragraph -->\n<!-- wp:paragraph --><p>2025\u5e74\u306b\u306fET\u306f10%\u4e0b\u843d\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u30a6\u30a9\u30fc\u30eb\u8857\u3067\u306f\u597d\u610f\u7684\u306b\u53d7\u3051\u5165\u308c\u3089\u308c\u3066\u304a\u308a\u300118\u4eba\u4e2d17\u4eba\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u304c\u300c\u8cb7\u3044\u300d\u307e\u305f\u306f\u300c\u5f37\u3044\u8cb7\u3044\u300d\u3068\u8a55\u4fa1\u3057\u3001\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u4fa1\u683c\u76ee\u6a19\u306f\u6765\u5e74\u306e\u682a\u4fa1\u304c\u307b\u307c30%\u4e0a\u6607\u3059\u308b\u53ef\u80fd\u6027\u3092\u793a\u5506\u3057\u3066\u3044\u307e\u3059\u3002<\/p><!-- \/wp:paragraph 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