Energy Transfer Partners, L.P. Continues Timely Completion of 42-Inch Pipeline Construction Project
Posted on: Tuesday, 5 December 2006, 18:01 CST
Energy Transfer Partners, L.P. (NYSE:ETP) today announced the completion of the second phase of its 265-mile, 42-inch pipeline construction project. The just completed 32-mile pipeline segment brings ETP's 42-inch expansion project to more than 60 percent complete.
The new pipeline, which connects the company's ET Fuel System with its HPL system, provides additional capacity to transport natural gas out of Texas' capacity-constrained Barnett Shale and Bossier Sands' producing areas to the Carthage, Texas market hub, as well as to ETP's Texoma pipeline. ETP's Texoma pipeline connects with numerous interstate and intrastate pipelines as well as direct markets. Initial capacities are in excess of 500 MMcf per day increasing to an estimated 1 Bcf by March, 2007. The full benefit to ETP of the 42-inch construction project will be recognized upon completion of the final phase currently under construction and on schedule to be completed in the first quarter of 2007.
"This new segment of pipeline is an integral part of ETP's overall transportation system, providing producers with increased capacity to meet production growth" said Lee Hanse, ETP Senior Vice President of Optimization. "ETP has been the leader in Texas in listening to the needs of producers and building the necessary infrastructure to accommodate their requests. We are excited about the completion of this second phase, and look forward to the full completion of the project early next year."
Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP's natural gas transportation and storage operations include intrastate 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. These assets include approximately 12,000 miles of intrastate pipeline in service, with an additional 600 miles of intrastate pipeline under construction, and 2,500 miles of interstate pipeline. ETP is one of the three largest retail marketers of propane in the United States, serving more than one million customers from approximately 442 customer service locations in 41 states extending from coast to coast.
Energy Transfer Equity, L.P. (NYSE:ETE) owns the general partner interest, 100% of the incentive distribution rights in the general partner, and approximately 36.4 million Common Units and 26.1 million Class G Units of Energy Transfer Partners, L.P.
The information contained in this press release is available on ETP's website at www.energytransfer.com.
Source: Business Wire
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