Fractionator is fully supported by long-term, fixed-fee contracts
Fractionator will complement the Partnership’s Lone Star Express
Pipeline
DALLAS--(BUSINESS WIRE)--Feb. 23, 2017--
Energy Transfer Partners, L.P. (NYSE: ETP) today
announced that its subsidiary, Lone Star NGL LLC (“Lone Star”), will
construct a fifth natural gas liquids (NGL) fractionation facility
at Mont Belvieu, Texas. Fractionator V, including NGL product
infrastructure and a new 3 million barrel y-grade storage cavern, has a
total estimated cost of approximately $385 million. The 120,000 barrel
per day fractionator is fully subscribed under multiple long-term,
fixed-fee contracts and is scheduled to be operational by September of
2018.
The construction of Fractionator V is a result of the tremendous
production growth in the Delaware and Permian Basins. Upon completion of
the new fractionator, Lone Star will own and operate over 540,000
barrels per day of fractionating capacity at Mont Belvieu.
With the addition of the Lone Star Express Pipeline, which was placed in
service in August 2016, Lone Star has approximately 585,000 barrels per
day of NGL transport capacity out of west Texas and southeast New Mexico
and 880,000 barrels per day of total capacity into Mont Belvieu.
As Permian Basin production continues to increase, Lone Star is well
positioned to continue expanding its pipeline and fractionation capacity.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership that owns and operates 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 62,500 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 of Sunoco Logistics
Partners L.P. (NYSE: SXL), which operates a geographically diverse
portfolio of pipelines, terminalling and acquisition and marketing
assets. ETP recently acquired the general partner, 100% of the incentive
distribution rights, and an approximate 65% limited partnership interest
in PennTex Midstream Partners, LP (NASDAQ: PTXP), which is a
growth-oriented master limited partnership that provides natural gas
gathering and processing and residue gas and natural gas liquids
transportation services to producers in northern Louisiana. ETP’s
general partner is owned by Energy Transfer Equity, L.P. (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 ETP’s Annual Reports on Form 10-K and other documents filed
from time to time with the Securities and Exchange Commission. ETP
undertakes no obligation to update or revise any forward-looking
statement to reflect new information or events.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170223005372/en/
Source: Energy Transfer Partners, L.P.
Energy Transfer
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Brent Ratliff or Lyndsay Hannah, 214-981-0795
or
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