The midstream sector will be this year's focus of the oil and gas industry, according to Deloitte's 2014 Outlook on Oil & Gas. John England, vice chairman and U.S. Oil & Gas leader at Deloitte, reported that the industry's midstream capital spending increased to $46.4 billion last year. "As companies see rising liquefied natural gas (LNG) export approvals, a revitalization of the U.S. petrochemicals industry, increased demand from power generation, and growing adoption of natural gas for vehicle fleets, many natural gas-focused companies may hold on to their stakes waiting for prices to rise further," England said in the report.

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