Profile: Energy Transfer Equity LP (ETE.N)
18 Aug 2017
Energy Transfer Equity, L.P. (ETE), incorporated on August 23, 2005, owns equity interests in Energy Transfer Partners, L.P. (ETP) and Sunoco LP, which are engaged in diversified energy-related services. The Company's segments include Investment in ETP, including the consolidated operations of ETP; Investment in Sunoco LP, including the consolidated operations of Sunoco LP; Investment in Lake Charles LNG, including the operations of Lake Charles LNG, and Corporate and Other. The Company's subsidiaries include ETP, Energy Transfer Partners GP, L.P. (ETP GP), Energy Transfer Partners, L.L.C. (ETP LLC), ETE Common Holdings, LLC, Panhandle Eastern Pipe Line Company, LP and its subsidiaries (Panhandle), Sunoco Logistics Partners L.P. (Sunoco Logistics), Sunoco LP, Lake Charles LNG Company, LLC (Lake Charles LNG) and ETP Holdco Corporation (ETP Holdco).
Investment in ETP
The Company's Investment in ETP segment includes the ETP's operations, which include intrastate transportation and storage operations; interstate transportation and storage operations; midstream operations; liquids transportation and services operations; ETP's Investment in Sunoco Logistics; Retail Marketing operations, and ETP's other operations and Investments. ETP's natural gas transportation pipelines receive natural gas from other mainline transportation pipelines, storage facilities and gathering systems and deliver the natural gas to industrial end users, storage facilities, utilities and other pipelines. As of December 31, 2016, ETP, through its intrastate transportation and storage operations, owned and operated approximately 7,900 miles of natural gas transportation pipelines with approximately 15.2 billion cubic feet per day (Bcf/d) of transportation capacity and three natural gas storage facilities located in the state of Texas. Through La Grange Acquisition, L.P. (ETC OLP), ETP owns an intrastate pipeline system in the United States with interconnects to Texas markets and to consumption areas throughout the United States.
ETP's intrastate transportation and storage operations focus on the transportation of natural gas to markets from various prolific natural gas producing areas through connections with other pipeline systems, as well as through its Oasis pipeline, its East Texas pipeline, its natural gas pipeline and storage assets that are referred to as the ET Fuel System and its HPL System. As of December 31, 2016, through its interstate transportation and storage operations, ETP directly owned and operated approximately 11,800 miles of interstate natural gas pipelines with approximately 10.3 Bcf/d of transportation capacity and has a 50% interest in the joint venture that owns the 185-mile Fayetteville Express pipeline and the 500-mile Midcontinent Express pipeline. ETP's interstate transportation and storage operations include Panhandle, which owns and operates a natural gas open-access interstate pipeline network. As of December 31, 2016, through its midstream operations, ETP owned and operated natural gas and natural gas liquid (NGL) gathering pipelines, natural gas processing plants, natural gas treating facilities and natural gas conditioning facilities with an aggregate processing, treating and conditioning capacity of approximately 12.3 Bcf/d.
ETP's midstream operations focus on the gathering, compression, treating, blending, and processing, of natural gas and its operations are concentrated in producing basins and shales, including the Austin Chalk trend and Eagle Ford Shale in South and Southeast Texas, the Permian Basin in West Texas and New Mexico, the Barnett Shale and Woodford Shale in North Texas, the Bossier Sands in East Texas, the Marcellus Shale in West Virginia and Pennsylvania, and the Haynesville Shale in East Texas and Louisiana. Many of ETP's midstream assets are integrated with its intrastate transportation and storage assets. As of December 31, 2016, ETP's liquids transportation and services operations included approximately 1,400 miles of NGL pipelines with an aggregate transportation capacity in excess of 1.5 million Bbls/d, five NGL and propane fractionation facilities with an aggregate capacity of 545,000 Bbls/d and NGL storage facilities with aggregate working storage capacity of approximately 53 million Bbls. The NGL pipelines primarily transport NGLs from the Permian and Delaware basins and the Barnett and Eagle Ford Shales to Mont Belvieu. As of December 31, 2016, ETP also owned and operated the 82-mile Rio Bravo crude oil pipeline.
As of December 31, 2016, ETP's interests in Sunoco Logistics consisted of 67.1 million Sunoco Logistics common units and 9.4 million Sunoco Logistics Class B Units. ETP also owns interest in Sunoco Partners LLC, the entity that owns the general partner interest and incentive distribution rights (IDRs) in Sunoco Logistics. Sunoco Logistics' crude oil operations provide transportation, terminaling and acquisition and marketing services to crude oil markets throughout the southwest, midwest and northeastern United States. Sunoco Logistics' NGLs operations transport, store, and execute acquisition and marketing activities utilizing a network of pipelines, storage and blending facilities, and strategic off-take locations that provide access to multiple NGLs markets. As of December 31, 2016, Sunoco Logistics' refined products operations provided transportation and terminaling services, through the use of approximately 1,800 miles of refined products pipelines and approximately 40 active refined products marketing terminals.
ETP owns equity interests of a natural gas compression equipment business with operations in Arkansas, California, Colorado, Louisiana, New Mexico, Oklahoma, Pennsylvania and Texas. ETP conducts marketing operations in which it markets the natural gas that flows through its gathering and intrastate transportation assets, referred to as on-system gas. ETP is involved in the management of coal and natural resources properties. ETT provides compression services to customers engaged in the transportation of natural gas, including ETP's other operations. As of December 31, 2016, ETP also owned PEI Power Corp. and PEI Power II, which own and operate a facility in Pennsylvania that generates a total of 75 megawatts of electrical power.
Investment in Sunoco LP
Sunoco LP is engaged in retail sale of motor fuels and merchandise through its company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company's Investment in Sunoco LP segment includes wholesale operations and retail operations. Sunoco LP is a wholesale distributor of motor fuels and other petroleum products which Sunoco LP supplies to its retail operations, to third-party dealers and distributors, to independent operators of consignment locations and other consumers of motor fuel. Sunoco LP also distributes other petroleum products such as propane and lubricating oil, and Sunoco LP receives rental income from real estate that it leases or subleases. As of December 31, 2016, Sunoco LP purchased motor fuel primarily from independent refiners and oil companies and distributed it across over 30 states throughout the East Coast, Midwest and Southeast regions of the United States. As of December 31, 2016, Sunoco LP's retail operations operated approximately 1,345 convenience stores and retail fuel outlets. Its retail convenience stores operate under several brands, including Sunoco's brands Stripes, APlus, and Aloha Island Mart, and offer a selection of food, beverages, snacks, grocery and non-food merchandise, motor fuel and other services. As of December 31, 2016, Sunoco LP operated approximately 740 Stripes convenience stores in Texas, New Mexico, Oklahoma and Louisiana.
As of December 31, 2016, Sunoco LP operated approximately 445 retail convenience stores and fuel outlets, primarily under Sunoco's Sunoco fuel brand, and principally located in Pennsylvania, New York and Florida, including approximately 400 APlus convenience stores. As of December 31, 2016, Sunoco LP operated approximately 160 Mid-Atlantic Convenience Stores, LLC (MACS) and Aloha Petroleum, Ltd (Aloha) convenience stores and fuel outlets in Virginia, Maryland, Tennessee, Georgia, and Hawaii offering merchandise, food service, motor fuel and other services. As of December 31, 2016, MACS operated approximately 110 company-operated retail convenience stores and Aloha operated approximately 50 Aloha, Shell, and Mahalo branded fuel stations.
Investment in Lake Charles LNG
The Company's Lake Charles LNG provides terminal services for shippers by receiving liquefied natural gas (LNG) at the facility for storage and delivering such LNG to shippers, either in liquid state or gaseous state after regasification. Lake Charles LNG owns a LNG import terminal and regasification facility located on Louisiana's Gulf Coast near Lake Charles, Louisiana.
Energy Transfer Equity LP
8111 Westchester Dr Ste 600
DALLAS TX 75225-6142
Company Web Links
- BRIEF-Energy Transfer Equity reports qtrly net income per limited partner unit diluted $0.18
- BRIEF-ETP to sell stake in Rover pipeline project entity for about $1.57 bln
- BRIEF-Energy Transfer announces senior management updates
- BRIEF-Glass Lewis and Egan-Jones recommend Energy Transfer unitholders to vote for proposed merger with Sunoco Logistics
- UPDATE 5-Sunoco to sell 1,110 U.S. stores to 7-Eleven operator for $3.3 bln