Brings Lone Star’s Total Capacity at Facility to 200,000 Barrels Per
Day
DALLAS--(BUSINESS WIRE)--Nov. 1, 2013--
Energy Transfer Partners, L.P. (NYSE:ETP)
and Regency Energy Partners LP (NYSE:RGP)
announced today that Lone Star NGL LLC (“Lone Star”), a joint venture
between ETP and RGP, has placed in service the second natural gas
liquids (NGL) fractionator at Lone Star’s facility in Mont Belvieu,
Texas. Lone Star Frac II is a 100,000 barrel-per-day fractionator that
brings Lone Star’s total fractionation capacity at Mont Belvieu to
200,000 barrels per day.
Lone Star’s Mont Belvieu fractionators receive NGLs from several
sources, including Lone Star’s west Texas NGL pipelines and ETP’s
Justice NGL pipeline. Volumes transported on Lone Star’s pipeline system
and the ETP Justice pipeline continue to ramp up as shippers under
long-term agreements with Lone Star and ETP increase their production
from the Permian Basin, Eagle Ford Shale, and other producing regions.
The completion of the second fractionator capitalizes on ETP’s and RGP’s
growing footprint in prolific producing regions, creating synergistic
value and opportunities for new organic growth. As the fractionator
volumes continue to ramp up, additional value will be captured through
the export of butane, ethane and propane to meet international demand.
Therefore, this project serves as another step in continuing the
partnerships’ objective to increase unitholder value, and strategically
enhance long-term sustainability and growth.
“The startup of Frac II is 10 weeks ahead of schedule and under budget,
which underscores our ability to efficiently execute large-scale NGL
projects,” said Steve Spaulding, Executive Vice President of Lone Star
NGL. “The increased fractionation capacity will increase the supply of
purity NGL products for our downstream customers through our storage
facilities, Houston Ship Channel pipelines, and our recently announced
LPG export terminal with Sunoco Logistics.”
“We continue to evaluate opportunities to add fractionation capabilities
at Mont Belvieu. Earlier this year, we filed an air permit to construct
a third fractionator at the site to ensure we are positioned to meet the
critical needs of producers as production in the Permian Basin and the
Eagle Ford continues to increase,” Mr. Spaulding added.
Lone Star NGL LLC (Lone Star), a joint venture between Energy
Transfer Partners, L.P. (NYSE:ETP)
and Regency Energy Partners LP (NYSE:RGP), owns and operates natural gas
liquids storage, fractionation, and transportation assets in Texas,
Louisiana, and Mississippi. Lone Star's assets include approximately
1,640 miles of natural gas liquids pipelines and 43 million barrels of
storage capacity at Mont Belvieu, Texas. ETP owns and operates a
diversified portfolio of energy assets, including approximately 24,000
miles of natural gas pipelines and related facilities that gather,
treat, process, transport and store natural gas. RGP provides midstream
natural gas and natural gas liquids gathering and processing, contract
compression, treating and transportation through more than 5,250 miles
of gas gathering pipelines and related facilities. Energy Transfer
Equity, L.P. (NYSE:ETE)
owns the general partner of both ETP and RGP.
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 currently owns and operates approximately 43,000 miles of natural
gas, natural gas liquids, refined products, and crude oil pipelines. ETP
owns 100% of ETP Holdco Corporation, which owns Southern Union Company
and Sunoco, Inc., and a 70% interest in Lone Star NGL LLC, a joint
venture that owns and operates natural gas liquids storage,
fractionation and transportation assets. ETP also owns the general
partner, 100% of the incentive distribution rights, and approximately
33.5 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’s general partner is owned by ETE. For more
information, visit the Energy Transfer Partners, L.P. web site at www.energytransfer.com.
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.
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 Reports 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.
Investor Relations:
Energy Transfer
Brent Ratliff,
214-981-0700
Vice President, Investor Relations
or
Regency
Energy Partners
Lyndsay Hannah, 214-840-5477
Manager, Finance
& Investor Relations
or
Media Relations:
Granado
Communications Group
Vicki Granado, 214-599-8785
Cell:
214-498-9272