Energy Transfer Announces Lake Charles LNG Project Update
August 17 2015 - 3:32PM
Business Wire
Lake Charles Export Receives FERC’S Final
Environmental Impact Statement
Energy Transfer Equity, L.P. (NYSE: ETE) and Energy Transfer
Partners, L.P. (NYSE: ETP) (collectively, “Energy Transfer”)
announced today that they have received FERC’s Final Environmental
Impact Statement (“FEIS”) for the Lake Charles LNG Export Company,
LLC (“Lake Charles Export”) liquefaction project (“Project”). This
issuance starts the 90-day period in which other federal agencies
are to complete their review of the Project and issue any required
agency authorizations. That decision deadline is November 12, 2015.
The FERC authorization for the Project is expected to be issued
during this 90-day period.
Final investment decisions from both Energy Transfer and BG
Group (LSE: BG.L) (”BG”) are expected in mid-2016, with
construction to start immediately thereafter and first LNG exports
anticipated in mid-2020.
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. Additionally,
ETP owns the general partner, 100% of the incentive distribution
rights and approximately 66% 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 ETE. For more information, visit the
Energy Transfer Partners, L.P. web site at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE: ETE) is a
master limited partnership which owns the general partner and 100%
of the incentive distribution rights (IDRs) of Energy Transfer
Partners, L.P. (NYSE: ETP) and approximately 23.6 million ETP
Common Units and 81.0 million ETP Class H Units, which track 90% of
the underlying economics of the general partner interest and the
IDRs of Sunoco Logistics Partners L.P. (NYSE: SXL), and 100 ETP
Class I Units. On a consolidated basis, ETE’s family of companies
owns and operates approximately 71,000 miles of natural gas,
natural gas liquids, refined products, and crude oil pipelines. For
more information, visit the Energy Transfer Equity, L.P. web site
at www.energytransfer.com.
Energy Transfer 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. Among those is the risk that the anticipated
benefits from the proposed transaction cannot be fully realized. An
extensive list of factors that can affect future results are
discussed in the Partnerships’ Annual Reports on Form 10-K and
other documents filed from time to time with the Securities and
Exchange Commission. The Partnerships 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
Energy Transfer’s website at www.energytransfer.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150817006251/en/
Energy TransferInvestor Relations:Brent Ratliff,
214-981-0700orLyndsay Hannah, 214-840-5477orMedia
Relations:Granado Communications GroupVicki Granado,
214-599-8785214-498-9272 (cell)
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