Energy Transfer Partners to Construct Fourth Fractionation Facility at Mont Belvieu
May 04 2015 - 4:43PM
Business Wire
Fractionator is fully supported by long-term
demand fee contracts
Fractionator will complement the Partnership’s
Lone Star Express Pipeline
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.
Investor Relations:Energy TransferBrent Ratliff,
214-981-0700Vice President, Investor RelationsorLyndsay Hannah,
214-840-5477Director, Finance & Investor RelationsorMedia
Relations:Granado Communications GroupVicki Granado,
214-599-8785Cell: 214-498-9272
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