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Energy Transfer Partners, L.P. Announces Completion of First Phase of 42-Inch Pipeline Expansion Project

Posted on: Thursday, 31 August 2006, 18:00 CDT

Energy Transfer Partners, L.P. (NYSE:ETP) announces completion of the first phase of its previously announced 42-inch pipeline construction project. This segment, comprised of 97 miles of 42-inch natural gas pipeline, connects the Partnership's 30-inch pipeline in Freestone County, the Bethel Storage Facility and its 30-inch Texoma pipeline in Rusk County. This portion of the 42-inch project has been placed in service and is currently flowing natural gas. The completion of this first phase provides the Partnership with additional take-away capacity to transport gas out of the Barnett Shale and Bossier Sands producing areas.

The full benefit to the Partnership of the 42-inch construction project will be recognized upon completion of the additional phases, all of which are currently underway and are on schedule to be completed by February 2007. Because of increased transportation commitments to the Partnership, the Board of Directors has approved a plan to upsize the recently announced 157 mile 36-inch expansion of this project to 42-inch for the section that runs from Limestone County, Texas to the interconnect with its Texoma pipeline, northeast of Beaumont. The increased upsizing will bring the estimated total cost of the project from $895 to approximately $1.0 billion.

Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. The Partnership's natural gas transportation and storage operations include natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. This includes approximately 11,700 miles of pipeline in service, with an additional 550 miles under construction. The Partnership is one of the three largest retail marketers of propane in the United States, serving more than one million customers from approximately 440 customer service locations in 40 states extending from coast to coast and Alaska.

Energy Transfer Equity, L.P. (NYSE:ETE) owns the general partner and approximately 36.4 million Common Units of Energy Transfer Partners, L.P.

The information contained in this press release is available on the Partnership's website at www.energytransfer.com.

Source: Business Wire

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