Energy Transfer Partners, L.P. (NYSE: ETP) today announced that its Board of Directors has approved building a pipeline to transport natural gas from processing facilities located in the prolific Marcellus and Utica Shale areas to numerous market regions in the United States and Canada. In conjunction with this announcement, ETP is announcing it has signed long-term agreements with multiple shippers and is launching a binding Open Season. The natural gas pipeline is currently sized to transport 2.2 billion cubic feet per day, however, depending on additional shipper commitments, the project likely will be expanded to transport up to 3.25 billion cubic feet per day. ETP has secured capacity commitments from producers who hold significant acreage positions in the Utica and Marcellus Shales and has been in negotiations with numerous other shippers who have expressed a desire to contract for capacity in the Open Season. The three largest shippers on the project are American Energy – Utica, LLC (AEU), Antero Resources Corporation (NYSE:AR) and Range Resources Corporation (NYSE:RRC). American Energy and Antero Resources both have options to purchase non-operating equity interests in the project. The first approximately 400 miles of the project will enable the flow of gas from processing plants and interconnections in Pennsylvania, West Virginia and Ohio to points of interconnection with Energy Transfer’s existing Panhandle Eastern Pipe Line (PEPL) and another Midwest pipeline near Defiance, Ohio. Shippers in the ET Rover project also will be able to transport to Trunkline Zone 1A, delivery points via the interconnection with PEPL, to access existing and new industrial markets and potential liquefaction export markets in the Gulf Coast. Additionally, ETP expects to construct an approximately 195-mile segment from the Defiance area through Michigan and ultimately to the Union Gas Dawn Hub (Dawn) near Sarnia, Canada providing producers with access to diverse markets and end-users in Michigan and Canada with access to Marcellus and Utica supplies. Energy Transfer has received sufficient commitments and Board Approval to build the pipeline to Defiance and anticipates receiving sufficient volumes to justify building to Dawn.
ETP’s binding Open Season for shippers to secure capacity on the ETP pipeline will begin tomorrow at 9:00 AM CDT. Pending the results of the Open Season and all necessary regulatory approvals, Energy Transfer plans to have initial service to the Midwest Hub located near Defiance, Ohio and Gulf Coast markets by the fourth quarter of 2016, and the remaining service to markets in Michigan and Canada by the second quarter of 2017.For commercial inquiries about the natural gas pipeline project, please contact: Beth Hickey email@example.com Terry Reilly firstname.lastname@example.org 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 35,000 miles of natural gas and natural gas liquids pipelines. ETP owns 100% of Panhandle Eastern Pipe Line Company, LP (the successor of 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. Energy Transfer Equity, L.P. (NYSE: ETE) is a master limited partnership which owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE: ETP), approximately 30.8 million ETP common units, and approximately 50.2 million ETP Class H Units, which track 50% of the underlying economics of the general partner interest and IDRs of Sunoco Logistics Partners L.P. (NYSE: SXL). ETE also owns the general partner and 100% of the IDRs of Regency Energy Partners LP (NYSE: RGP) and approximately 40.7 million RGP common units. The Energy Transfer family of companies owns more than 61,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines. For more information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com. Forward-Looking Statements 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 the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. 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.