Second Fractionator Will Complement the Partnerships’ Woodford Shale,
Eagle Ford Shale and Permian Basin Infrastructure
DALLAS--(BUSINESS WIRE)--Feb. 16, 2012--
Energy Transfer Partners, L.P. (NYSE:
ETP) and Regency Energy Partners LP (NYSE:
RGP) today announced that their joint venture, Lone Star NGL LLC
(“Lone Star”), will construct a second 100,000 barrel per day natural
gas liquids (NGL) fractionation facility at Mont Belvieu, Texas.
Supported by multiple long-term contracts, the second fractionator is
necessary to handle the increasing NGL barrels delivered via the
partnerships’ Woodford Shale, Eagle Ford Shale and Permian Basin
infrastructure, including Lone Star’s 570-mile West Texas Gateway NGL
Pipeline.
Lone Star is on schedule to complete its West Texas Gateway NGL Pipeline
and initial 100,000 barrel per day fractionator at Mont Belvieu in the
first quarter of 2013, and expects this second fractionator to be
completed in the first quarter of 2014. At an estimated cost of $350
million, the project will also include interconnectivity infrastructure
to provide NGL suppliers and NGL markets with significant access to
storage, other fractionators, pipelines and multiple markets along the
Texas and Louisiana Gulf Coast.
“With the capacity of our first fractionator fully contracted, and
increasing customer demand for NGL outlets, the addition of a second
fractionator was necessary,” said Greg Bowles, Senior Vice President of
Lone Star. “Our two new fractionators and our West Texas Gateway system
are all supported by long-term agreements. These assets, along with
other projects we are pursuing in these prolific regions, demonstrate
our strong commitment to providing full NGL services for our customers.”
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
Arizona, Arkansas, Colorado, 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 18,000 miles of gathering and transportation pipelines,
treating and processing assets, and three storage facilities located in
Texas. ETP also holds a 70% 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. ETP’s general partner is owned by Energy Transfer Equity,
L.P. (NYSE: ETE).
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
Energy Transfer Equity, L.P. (NYSE:
ETE) is a publicly traded partnership, which owns the general
partner of Energy Transfer Partners and approximately 50.2 million ETP
limited partner units; and owns the general partner of Regency Energy
Partners and approximately 26.3 million Regency limited partner units.
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 managements’
control. An extensive list of factors that can affect future results are
discussed in ETP's and RGP’s Annual Report on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. ETP and RGP undertake 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 the
Energy Transfer Partners, L.P. website at www.energytransfer.com
or on the Regency Energy Partners LP website at www.regencyenergy.com.
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Source: Energy Transfer Partners, L.P. and Regency Energy Partners LP
Investor Relations:
Energy Transfer Partners
Brent
Ratliff, 214-981-0700
or
Regency Energy Partners
Lyndsay
Hannah, 214-840-5477
Manager, Finance & Investor Relations
ir@regencygas.com
or
Media
Relations for ETP and Regency:
Granado Communications Group
Vicki
Granado, 214-599-8785
Mobile: 214-498-9272