How will this shift in the electricity landscape impact midstream? Resilient demand for natural gas amid lower total electricity generation is a positive for energy infrastructure companies with gas-focused assets, particularly demand-pull pipelines with utility or power customers. Large, diversified natural gas pipeline operators can benefit from this demand-pull exposure even when production is stalling (read more). In its 1Q20 earnings presentation, Kinder Morgan (KMI) updated its natural gas growth backlog, the vast majority of which has a demand-pull component. While several unknowns still surround the impact of COVID-19 on power demand, preliminary data and EIA forecasts paint a constructive picture for natural gas and the midstream assets needed to meet gas-fired power demand.