DALLAS, TEXAS — June 2nd, 2010 — Energy Transfer Partners, L.P. (NYSE:ETP) announced today the construction of a 63-mile natural gas pipeline that will provide its customers additional transportation, gathering, and treating services in the rapidly expanding Haynesville Shale in East Texas.
The pipeline project, which will originate in southeast Shelby County, Texas, traverse San Augustine County and terminate in Nacogdoches County, Texas, will consist of predominately 20- and 24-inch pipe and will have an initial capacity of 645 million cubic feet per day. The pipeline is supported by natural gas production from multiple 10-year agreements that encompass approximately 264,000 acres in the East Texas area.
The pipeline will interconnect with two interstate pipelines in addition to the Partnership’s Houston Pipeline System, which provides producers the optionality to access numerous other interstate and intrastate markets including the Carthage, Waha, Katy and Houston Ship Channel hubs in Texas. Partial service is expected to begin on the pipeline in the third quarter of this year and the full in-service date is expected to be in the fourth quarter 2010.
“This project shows our continued emphasis on developing organic growth projects and providing producers unparalleled access to markets throughout the country,” said Energy Transfer Partners’ Tim Dahlstrom, Senior Vice-President. “Our partnership is excited about this new opportunity to expand our pipeline network into a rapidly growing area of James Lime, Bossier and Haynesville production.”
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 currently has natural gas operations that include more than 17,500 miles of gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP also is 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 50.2 million ETP limited partner units; and the general partner of Regency Energy Partners and approximately 26.3 million Regency 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 Partnership’s website at www.energytransfer.com.
Contacts:
Investor Relations
Energy Transfer
Brent Ratliff
214-981-0700
Media Relations:
Vicki Granado
Granado Communications Group
214-504-2260 (office)
214-498-9272 (cell)
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