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Background on Energy Transfer Partners


Feb. 9 2015, Updated 3:41 p.m. ET

About Energy Transfer Partners

Energy Transfer Partners (ETP) is one of the largest publicly traded master limited partnerships. The company has a portfolio of midstream energy assets, including interstate pipelines, intrastate pipelines, and energy retail businesses.

ETP operates a number of different businesses, including the following segments:

  • Intrastate Transportation and Storage
  • Interstate Transportation and Storage
  • Midstream
  • NGL (Natural Gas Liquids) Transportation and Services
  • Sunoco Logistics
  • Retail Marketing Operations

This article will discuss the first four segments listed above.

ETP owns natural gas transportation pipelines that receive natural gas from other mainline transportation pipelines and gathering systems. These mainline pipelines and gathering systems deliver the natural gas to industrial end users, utilities, and other pipelines.

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Intrastate Transportation and Storage

Through its Intrastate Transportation and Storage segment, Energy Transfer Partners owns and operates approximately 7,800 miles of natural gas pipelines. These pipelines have a transportation capacity of approximately 14.0 billion cubic feet per day. ETP also owns three natural gas storage facilities in Texas.

Interstate Transportation and Storage

Energy Transfer Partners directly owns and operates approximately 12,800 miles of natural gas pipelines through its Interstate Transportation and Storage segment. These pipelines have a transportation capacity of approximately 11.3 billion cubic feet per day.
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The midstream natural gas industry links the exploration and production of natural gas to the delivery of natural gas components to end-user markets. The industry consists of natural gas gathering, compression, treatment, processing, and transportation.
Generally speaking, the proximity of gathering systems and processing plants to natural gas-producing wells influences regional competition in the midstream industry.

NGL Transportation and Services

NGL transportation pipelines move mixed NGLs and other hydrocarbons from natural gas processing facilities to fractionation plants and storage facilities. The NGL Transportation and Services segment includes ETP’s 70% interest in the Lone Star project, which ETP operates with Regency Energy Partners (RGP).

Other activities

ETP recently agreed to acquire RGP. Another important deal is the one between Time Warner Cable (TWC) and Comcast (CMCSA). Investors should also look at the IQ Merger Arbitrage ETF (MNA).

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