Fractionator is fully supported by long-term demand fee contracts
Fractionator will complement the Partnership’s Lone Star Express
Pipeline
DALLAS--(BUSINESS WIRE)--May 4, 2015--
Energy Transfer Partners, L.P. (NYSE: ETP) today announced
that its subsidiary, Lone Star NGL LLC (“Lone Star”), will construct a
fourth natural gas liquids (NGL) fractionation facility at Mont Belvieu,
Texas. Fractionator IV, estimated to cost approximately $450 million, is
scheduled to be operational by December 2016. The 120,000 barrel per day
fractionator is fully subscribed by multiple long-term contracts and
will provide off-take for the new 533-mile, 24- and 30-inch Lone Star
Express Pipeline.
The Lone Star Express Pipeline, which is currently under construction,
will transport approximately 475,000 barrels per day (expandable to
705,000 barrels per day) of NGLs from the Permian’s Delaware and Midland
Basins to Mont Belvieu, Texas, to accommodate Lone Star’s contracted NGL
transportation volumes. Phase I and phase II of the pipeline remain on
schedule for completion in the second quarter of 2016 and the fourth
quarter of 2016, respectively.
Additionally, Lone Star’s third Mont Belvieu fractionation facility,
which is also currently under construction, remains on schedule for
completion in January 2016, and Lone Star continues to evaluate further
fractionation expansion opportunities at Mont Belvieu and in other areas
of the country.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership owning and operating one of the largest and most diversified
portfolios of energy assets in the United States. ETP’s subsidiaries
include Panhandle Eastern Pipe Line Company, LP (the successor
of Southern Union Company) and Lone Star NGL LLC, which owns and
operates natural gas liquids storage, fractionation and transportation
assets. In total, ETP currently owns and operates more than 62,000 miles
of natural gas and natural gas liquids pipelines. ETP also owns the
general partner, 100% of the incentive distribution rights, and
approximately 67.1 million common units in Sunoco Logistics Partners
L.P. (NYSE: SXL), which operates a geographically diverse portfolio of
crude oil and refined products pipelines, terminalling and crude oil
acquisition and marketing assets. ETP owns 100% of Sunoco, Inc. and 100%
of Susser Holdings Corporation. Additionally, ETP owns the general
partner, 100% of the incentive distribution rights and approximately 43%
of the limited partner interests in Sunoco LP (formerly Susser Petroleum
Partners LP) (NYSE: SUN), a wholesale fuel distributor and convenience
store operator. ETP’s general partner is owned by Energy Transfer Equity
(NYSE: ETE). For more information, visit the Energy Transfer Partners,
L.P. website at www.energytransfer.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. An extensive list of factors that can affect future results are
discussed in the Partnership’s Annual Report on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnership undertakes no obligation to update or revise
any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our
website at www.energytransfer.com.
Source: Energy Transfer Partners, L.P.
Investor Relations:
Energy Transfer
Brent Ratliff,
214-981-0700
Vice President, Investor Relations
or
Lyndsay
Hannah, 214-840-5477
Director, Finance & Investor Relations
or
Media
Relations:
Granado Communications Group
Vicki Granado,
214-599-8785
Cell: 214-498-9272