Energy Transfer Partners, L.P. (NYSE: ETP) today announced it has
secured additional long-term binding shipper agreements on its Rover
natural gas pipeline project to connect Marcellus and Utica shale
supplies to markets in the Midwest, Great Lakes and Gulf Coast regions
of the United States and Canada. As a result of the additional
agreements, the pipeline is fully subscribed through 15 and 20 year
fee-based contracts to transport 3.25 billion cubic feet per day (Bcf/d)
of capacity.
The approximately 800-mile natural gas pipeline, estimated to cost $3.8
to $4.4 billion, will deliver natural gas from processing plants and
interconnections in Northwest West Virginia, Western Pennsylvania and
Eastern Ohio to the Midwest Hub near Defiance, Ohio as well as to
multiple delivery points in Michigan and to the Union Gas Hub near
Sarnia, Ontario. Rover also will interconnect with ETP’s Panhandle
Eastern Pipe Line (PEPL), allowing shippers to deliver gas to Gulf Coast
markets through ETP’s Trunkline system.
Transportation from the supply regions to the Midwest Hub near Defiance
is expected to begin by December 2016 to serve the Gulf Coast and
Midwest markets. The remaining service to other markets including
Michigan will be in service by mid-2017.
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 35,000 miles of natural gas and natural gas
liquids pipelines. ETP also owns 100% of Panhandle Eastern Pipe Line
Company, LP (the successor of Southern Union Company) 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 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. and 100%
of Susser Holdings Corporation. Additionally ETP owns the general
partner, 100% of the incentive distribution rights and approximately 44%
of the limited partnership interests in Sunoco LP (formerly Susser
Petroleum Partners LP) (NYSE: SUN), a wholesale fuel distributor. 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), approximately 30.8 million ETP common units, and approximately
50.2 million ETP Class H Units, which track 50% of the underlying
economics of the general partner interest and IDRs of Sunoco Logistics
Partners L.P. (NYSE: SXL). ETE also owns the general partner and 100% of
the IDRs of Regency Energy Partners LP (NYSE: RGP) and approximately
57.2 million RGP common 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.
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 the Partnership’s Annual Reports on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnership undertakes 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 our
website at www.energytransfer.com.
Copyright Business Wire 2014