Energy Transfer to Construct Fifth Fractionation Facility at Mont Belvieu
February 23 2017 - 8:00AM
Business Wire
Fractionator is fully supported by long-term,
fixed-fee contracts
Fractionator will complement the Partnership’s
Lone Star Express Pipeline
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170223005372/en/
Energy TransferInvestor Relations:Helen Ryoo,
Brent Ratliff or Lyndsay Hannah, 214-981-0795orMedia
Relations:Granado Communications GroupVicki Granado,
214-599-8785Cell: 214-498-9272
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