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Must-know: An overview of Energy Transfer Partners

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Energy Transfer Partners

Energy Transfer Partners’ (ETP) operations span across major plays in the United States.

The major plays include:

  1. Eagle Ford
  2. Permian
  3. Bakken
  4. Marcellus
  5. Haynesville

ETP has five distinct business segments.

Intra-state Transportation and Storage

ETP’s intra-state pipelines receive natural gas from mainline transportation pipelines and gathering systems. They deliver this gas to industrial end users, utilities, and other pipelines.

Key assets include:

  • ~7,800 miles of natural gas transportation pipelines
  • Three storage facilities in Texas
  • 74.4 billion cubic feet (or bcf) of total working gas storage capacity

Inter-state Transportation and Storage

In its interstate transportation and storage operations, ETP owns:

  • ~18,000 miles of natural gas pipelines
  • One storage facility
  • A liquefied natural gas (or LNG) terminal in Lake Charles, with nine bcf storage capacity and 2.1 bcf per day LNG capacity

This segment also includes Southern Union’s transportation and storage operations. ETP acquired Southern Union’s transportation and storage operations in 2011.

Midstream Operations

ETP’s midstream operations focus on gathering, compression, treating, blending, and processing natural gas and natural gas liquids (or NGLs).

In this segment, ETP owns:

  • ~6,700 miles of natural gas pipelines
  • 15 natural gas treating facilities
  • Four natural gas processing facilities
  • Two natural gas conditioning facilities

Many of ETP’s midstream assets are integrated with its intra-state transportation and storage assets.

NGL Transportation and Services Operations

ETP’s NGL transportation and services operations include:

  • A 70% interest in Lone Star. Lone Star owns ~2,300 miles of NGL pipelines, four NGL processing plants, three processing plants, and one NGL fractionator. It has 48 million barrels of NGL storage capacity and two fractionation facilities.

 Sunoco Logistics

ETP’s Sunoco Logistics (SXL) subsidiary consists of pipeline, terminaling, and acquisition and marketing assets. They’re used to facilitate refined product and crude oil transportation—primarily in the northeast, Midwest, and southwest regions.

SXL has ~5,400 miles of crude oil and refined product pipelines. It has 40 million shell barrels of working storage capacity.

We’ll discuss Sunoco’s operations in more detail in the next part of this series.

Key MLP ETFs

ETP is a component of several energy master limited partnerships (or MLPs) including the Alerian MLP ETF (AMLP), the Global X MLP ETF (MLPA), the Global X MLP & Energy Infrastructure ETF (MLPX), and the Alerian Energy Infrastructure ETF (ENFR).

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