Lone Star NGL LLC (Lone Star), a joint venture between Energy Transfer Partners, L.P. ( NYSE:ETP) and Regency Energy Partners LP (NYSE:RGP), owns and operates natural gas liquids storage, fractionation, and transportation assets in Texas, Louisiana, and Mississippi. Lone Star's assets include approximately 1,640 miles of natural gas liquids pipelines and 43 million barrels of storage capacity at Mont Belvieu, Texas. ETP owns and operates a diversified portfolio of energy assets, including approximately 24,000 miles of natural gas pipelines and related facilities that gather, treat, process, transport and store natural gas. RGP provides midstream natural gas and natural gas liquids gathering and processing, contract compression, treating and transportation through more than 5,250 miles of gas gathering pipelines and related facilities. Energy Transfer Equity, L.P. ( NYSE:ETE) owns the general partner of both ETP and RGP.Energy Transfer Partners, L.P. ( NYSE:ETP ) is a master limited partnership owning and operating one of the largest and most diversified portfolios of energy assets in the United States. ETP currently owns and operates approximately 43,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines. ETP owns 100% of ETP Holdco Corporation, which owns Southern Union Company and Sunoco, Inc., and a 70% interest in Lone Star NGL LLC, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 33.5 million common units in Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETP’s general partner is owned by ETE. For more information, visit the Energy Transfer Partners, L.P. web site at www.energytransfer.com. Regency Energy Partners LP ( NYSE:RGP ) is a growth-oriented, midstream energy partnership engaged in the gathering and processing, contract compression, treating and transportation of natural gas and the transportation, fractionation and storage of natural gas liquids. RGP also holds a 30% interest in Lone Star NGL LLC, a joint venture that owns and operates natural gas liquids storage, fractionation, and transportation assets in Texas, Louisiana and Mississippi. Regency’s general partner is owned by Energy Transfer Equity, L.P. ( NYSE:ETE). For more information, visit the Regency Energy Partners LP website at www.regencyenergy.com. 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 managements' control. An extensive list of factors that can affect future results are discussed in ETP's and RGP's Annual Reports on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. ETP and RGP undertake no obligation to update or revise any forward-looking statement to reflect new information or events.
Energy Transfer Partners, L.P. ( NYSE:ETP ) and Regency Energy Partners LP ( NYSE:RGP ) announced today that Lone Star NGL LLC (“Lone Star”), a joint venture between ETP and RGP, has placed in service the second natural gas liquids (NGL) fractionator at Lone Star’s facility in Mont Belvieu, Texas. Lone Star Frac II is a 100,000 barrel-per-day fractionator that brings Lone Star’s total fractionation capacity at Mont Belvieu to 200,000 barrels per day. Lone Star’s Mont Belvieu fractionators receive NGLs from several sources, including Lone Star’s west Texas NGL pipelines and ETP’s Justice NGL pipeline. Volumes transported on Lone Star’s pipeline system and the ETP Justice pipeline continue to ramp up as shippers under long-term agreements with Lone Star and ETP increase their production from the Permian Basin, Eagle Ford Shale, and other producing regions. The completion of the second fractionator capitalizes on ETP’s and RGP’s growing footprint in prolific producing regions, creating synergistic value and opportunities for new organic growth. As the fractionator volumes continue to ramp up, additional value will be captured through the export of butane, ethane and propane to meet international demand. Therefore, this project serves as another step in continuing the partnerships’ objective to increase unitholder value, and strategically enhance long-term sustainability and growth. “The startup of Frac II is 10 weeks ahead of schedule and under budget, which underscores our ability to efficiently execute large-scale NGL projects,” said Steve Spaulding, Executive Vice President of Lone Star NGL. “The increased fractionation capacity will increase the supply of purity NGL products for our downstream customers through our storage facilities, Houston Ship Channel pipelines, and our recently announced LPG export terminal with Sunoco Logistics.” “We continue to evaluate opportunities to add fractionation capabilities at Mont Belvieu. Earlier this year, we filed an air permit to construct a third fractionator at the site to ensure we are positioned to meet the critical needs of producers as production in the Permian Basin and the Eagle Ford continues to increase,” Mr. Spaulding added.