The energy sector is currently in the midst of a major consolidation wave. Oil giants Chevron and Exxon have both made multi-billion-dollar deals. The wave has flowed down into the midstream sector, where leading players Energy Transfer (NYSE: ET) and Oneok (NYSE: OKE) have made headline-grabbing acquisitions.

More industry consolidation seems likely. One potential target is  (NYSE: MPLX). Here's a look at some of the recent deals in the midstream sector and why that suggests MPLX could be next.

The pipeline sector has faced its share of headwinds in recent years. Growth has slowed because of volatile oil and gas prices. That caused upstream companies to slow production growth, reducing the need to invest in new midstream infrastructure. In addition, growing climate change concerns have made it tougher to build new infrastructure because of increased opposition. These issues have weighed on the growth prospects and valuations of energy midstream companies.

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Source Fool.com