Energy Transfer reports record amount of volumes across segments in 2022

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NEW YORK, Feb 15 (Reuters) - Energy Transfer LP (ET.N) moved a record amount of volumes across all of its segments in 2022, which included a record level of exports of natural gas liquids (NGL) out of its Nederland terminal, the company said during its fourth quarter 2022 earnings call on Wednesday.

NGL transportation volumes on the company's wholly owned and joint venture pipelines increased in the fourth quarter to a record 2 million barrels per day, versus 1.9 million bpd for the same period the year prior, the company said. The increase was due in part to higher volumes from the Permian and Eagle Ford regions.

The company also said it has restored its quarterly cash distribution to levels seen during the first half of 2020. It has announced a quarterly cash distribution of $0.35 per common unit or $1.22 on an annualized basis, a 75% increase over the fourth quarter of 2021.

During the call, Energy Transfer said that due to a high level of competition, it is taking longer than expected to reach a final investment decision on its announced Lake Charles liquefied natural gas (LNG) project.

The company also said it has contracted 25%-30% of what is needed to get to a final investment decision on its announced Warrior pipeline in Texas.

Reporting by Stephanie Kelly Editing by Chris Reese and Diane Craft

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Thomson Reuters

A New-York-based correspondent covering the U.S. crude market and member of the energy team since 2018 covering the oil and fuel markets as well as federal policy around renewable fuels. Contact: 646-737-4649

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