DALLAS--(BUSINESS WIRE)--Apr. 2, 2012--
Energy Transfer Equity, L.P. (NYSE:ETE) today announced that its
Trunkline LNG Company, Trunkline LNG Export, and Trunkline Gas Company
subsidiaries have filed with the Federal Energy Regulatory Commission to
build the previously announced natural gas liquefaction project under
development in Lake Charles, La.
The Lake Charles liquefaction project is being developed to liquefy
domestic supplies of natural gas for export to foreign countries in
order to meet the growing world-wide demand for LNG. Exporting LNG to
the world market will provide a wide range of economic and employment
related benefits for the United States.
Energy Transfer and its subsidiaries continue to work closely with its
customer BG Group plc in the development of the project.
As part of the project, Trunkline Gas Company plans to extend its
interstate natural gas pipeline approximately half a mile to provide
feed gas to the liquefaction facility. The project is currently planned
to export up to 15 million metric tons of LNG per year, which is the
equivalent of approximately 2 billion cubic feet per day of natural gas.
Pending regulatory approvals, Trunkline LNG Export currently expects to
begin project construction in 2014 and is anticipating the project to be
in service in the spring of 2018.
Energy Transfer Equity, L.P. (NYSE:ETE) is a publicly traded
partnership, which owns the general partner and 100 percent of the
incentive distribution rights (IDRs) of Energy Transfer Partners, L.P.
(NYSE:ETP) and approximately 50.2 million ETP limited partner units; and
owns the general partner and 100 percent of the IDRs of Regency Energy
Partners LP (NYSE:RGP) and approximately 26.3 million RGP limited
partner units. ETE is also the parent of Southern Union Company. The ETE
family of companies owns approximately 45,000 miles of natural gas and
natural gas liquids pipelines. For more information, visit the Energy
Transfer Equity, L.P. web site at www.energytransfer.com
Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded
partnership owning and operating a diversified portfolio of energy
assets. ETP has pipeline operations in Alabama, Arizona, Arkansas,
Colorado, Florida, Louisiana, Mississippi, New Mexico, Utah and West
Virginia and owns the largest intrastate pipeline system in Texas. ETP
currently has natural gas operations that include approximately 23,500
miles of gathering and transportation pipelines, treating and processing
assets, and three storage facilities located in Texas. ETP also holds a
70 percent interest in Lone Star NGL, a joint venture that owns and
operates NGL storage, fractionation and transportation assets in Texas,
Louisiana and Mississippi. ETP’s general partner is owned by ETE. For
more information, visit the Energy Transfer Partners, L.P. website at www.energytransfer.com
Regency Energy Partners LP (NYSE:RGP) is a growth-oriented,
midstream energy partnership engaged in the gathering and processing,
contract compression, treating and transportation of natural gas and the
transportation, fractionation and storage of natural gas liquids. RGP
also holds a 30% interest in Lone Star NGL LLC, a joint venture that
owns and operates natural gas liquids storage, fractionation, and
transportation assets in Texas, Louisiana and Mississippi. Regency’s
general partner is owned by Energy Transfer Equity, L.P. (NYSE:ETE). For
more information, visit the Regency Energy Partners LP website at www.regencyenergy.com
Southern Union Company, headquartered in Houston, is a subsidiary
of Energy Transfer Equity, L.P. and one of the nation’s leading
diversified natural gas companies, engaged primarily in the
transportation, storage, gathering, processing and distribution of
natural gas. The company owns and operates one of the nation’s largest
natural gas pipeline systems with approximately 15,700 miles of
gathering and transportation pipelines and one of North America’s
largest liquefied natural gas import terminals, along with serving more
than half a million natural gas end-user customers in Missouri and
Massachusetts. For further information, visit www.sug.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future, including statements regarding the
anticipated benefits and other aspects of the proposed transactions
described above, 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 the control of the
management teams of ETE, ETP, RGP or Southern Union. Among those is the
risk that conditions to closing the transactions are not met or that the
anticipated benefits from the proposed transactions cannot be fully
realized. An extensive list of factors that can affect future results
are discussed in the reports filed with the Securities and Exchange
Commission by ETE, ETP, RGP and Southern Union. None of ETE, ETP, RGP or
Southern Union undertakes any obligation to update or revise any
forward-looking statement to reflect new information or events.
Source: Energy Transfer Equity
Investor Relations
Energy Transfer
Brent Ratliff,
214-981-0700 (office)
or
Media Relations
Granado
Communications Group
Vicki Granado, 214-599-8785 (office)
214-498-9272
(cell)