DALLAS--(BUSINESS WIRE)--Dec. 20, 2013--
Energy Transfer Partners, L.P. (NYSE:ETP)
today announced that the sale of the assets of New England Gas Company
("NEG") to Liberty Utilities (New England Natural Gas Company) Corp.
("Liberty") was completed for a total purchase price of $60 million,
with approximately $40 million in cash proceeds and the assumption by
Liberty of approximately $20 million in debt. NEG is a division of
Southern Union Company ("Southern Union"), a wholly-owned indirect
subsidiary of ETP.
The sale by Southern Union of the NEG assets and sale of Missouri Gas
Energy assets, which closed September 1, 2013, demonstrates ETP’s
efforts to streamline and integrate its asset portfolio through the
divestiture of non-core assets, and continue to deliver on its promise
to simplify and to enhance unitholder value.
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 currently has
natural gas operations that include approximately 43,000 miles of
gathering and transportation pipelines, treating and processing assets,
and storage facilities. ETP owns 100% of ETP Holdco Corporation, which
owns Southern Union Company and Sunoco, Inc., and a 70% interest in Lone
Star NGL LLC, a joint venture that owns and operates natural gas liquids
storage, fractionation and transportation assets. ETP also owns the
general partner, 100% of the incentive distribution rights, and
approximately 33.5 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’s general partner is owned by
Energy Transfer Equity, L.P. (NYSE:ETE).
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 ETP’s Annual Report on Form 10-K and other documents filed
from time to time with the Securities and Exchange Commission. ETP
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
or
Media Relations:
Granado
Communications Group
Vicki Granado, 214-599-8785
Cell:
214-498-9272