DALLAS, TEXAS — February 16th, 2010 — Energy Transfer Partners, L.P. (NYSE: ETP) today announced the start of a binding open season for the expansion of the planned Tiger Pipeline. The initial 2 billion cubic feet per day of capacity on the Tiger Pipeline has been sold out under long-term contracts. Energy Transfer anticipates the expansion could make at least 600 million cubic feet per day of firm transportation capacity available, of which 400 million cubic feet per day has already been subscribed under a ten-year contract. Ultimate capacity of the expansion will be based upon producer response.
Energy Transfer is conducting a binding open season beginning today and accepting shipper commitments through Thursday, March 18 at 3:00 p.m. Central Time. The approximately 180-mile, 42-inch Tiger natural gas pipeline, which was announced in January 2009, will serve multiple basins, including the Haynesville Shale and Bossier Shale producing regions in Louisiana and East Texas. Pending necessary regulatory approvals, the Tiger Pipeline is expected to be in service the first half of 2011 and the expansion is expected to be in service the second half of 2011.
Those interested in obtaining more information on the open season may contact Luke Fletcher at
(210) 403-6492 or luke.fletcher@energytransfer.com, or Lee Hanse at (210) 403-6455 or lee.hanse@energytransfer.com. Information is also available at www.energytransfer.com.
Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP's natural gas operations include gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP currently has more than 17,500 miles of pipeline in service and has a 50% interest in joint ventures that have approximately 500 miles of interstate pipeline in service. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Energy Transfer Equity, L.P. (NYSE:ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners and approximately 62.5 million ETP limited partner units.
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 Report 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.
The information contained in this press release is available on the Partnerships' website at www.energytransfer.com.
Contacts
Investor Relations:
Brent Ratliff
Energy Transfer
214-981-0700 (office)
Media Relations:
Vicki Granado
Granado Communications Group
214-504-2260 (office)
214.498.9272 (cell) |