Energy Transfer Announces Expanded Effort Focused on the Development of Alternative Energy Projects
February 11 2021 - 3:15PM
Business Wire
Tom Mason tapped to lead the Partnership’s
increased focus on developing solar power projects and other
technologies to continue its decade-long effort to reduce its
environmental footprint
Energy Transfer LP (NYSE: ET) today announced it has created a
new group within the Partnership tasked with increasing the
Partnership’s efforts to develop alternative energy projects aimed
at continuing to reduce its environmental footprint throughout its
operations. The Alternative Energy Group will be led by Tom Mason,
who has more than 30 years of industry experience, including 14
years as Energy Transfer’s General Counsel, a role in which he will
continue.
Under Mr. Mason’s leadership, the group will continue to focus
on renewable energy projects such as solar and/or wind farms,
either as a power purchaser, or in partnership with third party
developers, and will also look to develop renewable diesel and
renewable natural gas opportunities when they make economic sense.
These potential projects could involve the utilization of existing
pipelines throughout Energy Transfer’s extensive pipeline system,
which consists of more than 90,000 miles of pipelines crossing 38
states.
The Partnership recently announced the results of one of these
initiatives by supporting the construction of the Maplewood 2 Solar
Project in West Texas with Recurrent Energy. The 28 MW solar
project, expected to be in service in the 2nd quarter of this year,
is the Partnership’s first-ever dedicated solar power purchase
contract.
Energy Transfer has been reducing its greenhouse emissions over
the past 10 years. An example of these efforts is the installation
of its Dual Drive Compression system along some of its natural gas
pipelines. Each Dual Drive compressor unit has patented technology
that provides the ability to switch back and forth between an
electric motor and a natural gas engine to manage changes in
electrical demand due to high peaks or due to extreme weather
conditions. In 2020 alone, this Dual Drive Technology reduced
Energy Transfer’s carbon dioxide emissions by over 632,000 tons.
Other emission reduction initiatives in place range from the use of
emissions prevention technology such as vapor recovery units and
stabilizers at natural gas process plants, to thermal oxidizers and
direct injection systems to reduce or prevent methane
emissions.
Energy Transfer continues to play a significant role in
efficiently and safely transporting energy commodities throughout
the United States that provide for our country’s electrical power
generation requirements, fuel for our vehicles and equipment, and
the necessary feedstock for the production of thousands of products
used and consumed by Americans in everyday life. The Partnership is
committed to helping meet the energy needs of our country while
also reducing our carbon footprint throughout the U.S.
Energy Transfer LP (NYSE: ET) owns and operates one of
the largest and most diversified portfolios of energy assets in the
United States, with a strategic footprint in all of the major
domestic production basins. ET is a publicly traded limited
partnership with core operations that include complementary natural
gas midstream, intrastate and interstate transportation and storage
assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and
various acquisition and marketing assets. ET, through its ownership
of Energy Transfer Operating, L.P., also owns Lake Charles LNG
Company, as well as the general partner interests, the incentive
distribution rights and 28.5 million common units of Sunoco LP
(NYSE: SUN), and the general partner interests and 46.1 million
common units of USA Compression Partners, LP (NYSE: USAC). For more
information, visit the Energy Transfer website at
energytransfer.com.
Forward-Looking Statement:
This news 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 Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission, including the Partnership’s
Quarterly Report on Form 10-Q to be filed for the current period.
In addition to the risks and uncertainties previously disclosed,
the Partnership has also been, or may in the future be, impacted by
new or heightened risks related to the COVID-19 pandemic, and we
cannot predict the length and ultimate impact of those risks. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210211005870/en/
Energy Transfer Media Relations 214.840.5820 Vicki
Granado, Lisa Coleman Media@energytransfer.com
Energy Transfer Investor Relations 214.981.0795 Bill
Baerg, Brent Ratliff, Lyndsay Hannah
investorrelations@energytransfer.com
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