DALLAS, TEXAS — April 12th, 2010 — Energy Transfer Partners, L.P. (NYSE:ETP), today announced the Federal Energy Regulatory Commission (FERC) has approved its NGA Section 7(c) Certificate Application permitting the construction and operation of its planned Tiger Pipeline, which will serve the Haynesville Shale and Bossier Sands producing regions in Louisiana and East Texas.
FERC's approval and issuance of Tiger Pipeline's certificate authorizes the construction of the approximately 175-mile, 42-inch interstate natural gas pipeline with a capacity of 2 billion cubic feet per day. Through a planned expansion project announced in February, and subject to FERC approval, the ultimate capacity of the Tiger Pipeline is expected to be 2.4 billion cubic feet per day, which is sold out under long-term contracts ranging from 10 to 15 years. The Tiger Pipeline will have interconnects with seven major interstate pipelines that serve the Northeast, Southeast, Mid-Atlantic and Midwest markets.
"We are excited to take this significant step on the Tiger project and we look forward to beginning construction this summer," said Lee Hanse, Senior Vice President – Interstate Division. "This project not only allows us to provide the takeaway capacity our customers have come to expect from us, but also allows us to provide a vehicle for job opportunities and tax revenue for the local economies in Louisiana and East Texas."
Pending FERC's approval of Tiger Pipeline's Implementation Plan, construction is expected to begin in June 2010. The Tiger Pipeline is expected to be in service the first half of 2011 and the 0.4 billion cubic feet per day expansion is expected to be in service the second half of 2011.
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, L.P. 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:
Vicki Granado
Granado Communications Group
Media Relations
(214) 504-2260 office
(214) 498-9272 cell
Brent Ratliff
Energy Transfer
Investor Relations
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