Energy Infrastructure/MLPs Weekly McKinsey Data Center Fireside on Deck; EIC Conference Takeaways; KNTK +FID on KL 2; RGSI Earnings Ahead; News Flow; Comps; Midstream Leads Broader Market

研报英文原文证据摘录

Energy Infrastructure/MLPs Weekly McKinsey Data Center Fireside on Deck; EIC Conference Takeaways; KNTK +FID on KL 2; RGSI Earnings Ahead; News Flow; Comps; Midstream Leads Broader Market

o 2027 providing increased confidence in the outlook.

• Baker Hughes: global gas turbine market share analysis: BKR secures record 1Q26

gas turbine orders with novaLT platform driving market share gains. The global gas

turbine market is experiencing surging demand trends, with 1Q26 orders reaching a

record 29.2GW and 288 units, marking a +39% YoY increase in capacity and +70% in

unit volume, both the highest 1Q and the fourth-best quarterly performance. This surge

reflects both structural tailwinds and cyclical demand, as NAM continues to dominate

with ~18.3GW of orders (~17.2GW in the U.S.), while the Middle East and Asia also post

strong inbound orders. Advanced class turbines (H/J-class) accounted for ~12.4GW of

global orders in 1Q26, highlighting the market’s pivot toward higher-efficiency, lower-

emissions solutions. As noted in JPM’s latest turbine tracker (see link), JPM’s capacity

forecasts indicate global OEM capacity will reach ~85GW by 2028, with upside potential

from further expansion announcements. The McCoy data corroborates these trends,

showing sequential order volatility but a clear upward trajectory in aggregate awards,

with NAM, Oman, and UAE as key growth markets. BKR ranked second in unit market

share where they are the technology owner for the 1Q26 period, booking 63 units and

capturing ~22% of the market, a substantial step up from prior periods. BKR ranked first

among manufacturers in unit count, booking 82 units or ~29% of the market while

outpacing Siemens and GE.

• Post YTD strength, group near historical levels; structurally stronger fundamentals