Energy Transfer Partners, L.P. (NYSE:ETP) today announced it has entered into another 10-year contract with a shipper to transport natural gas on its Tiger Pipeline system, bringing total capacity commitments on the pipeline to the initial design capacity of 2.0 billion cubic feet per day.The Tiger Pipeline’s throughput capacity may be increased to up to 2.4 billion cubic feet per day with added compression.
This new capacity commitment is in addition to previously announced agreements that include a 15-year contract with Chesapeake Energy Marketing, Inc., a subsidiary of Chesapeake Energy Corporation, for 1.0 billion cubic feet per day and a 10-year contract with Denver-based Encana Marketing (USA) Inc., a subsidiary of EnCana Corporation.
“We are excited to announce that the capacity committed to the Tiger Pipeline project has reached 2.0 billion cubic feet per day,” said Lee Hanse, Senior Vice President, Energy Transfer Partners Interstate Pipeline Division. “This latest precedent agreement further evidences the need for additional pipeline capacity out of the increasingly active Haynesville Shale natural gas play. Now that 2.0 billion cubic feet per day is subscribed, Tiger Pipeline will focus its efforts on the optimal expansion design to help provide producers with the additional takeaway capacity needed to further provide enhanced market access.”
Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP’s natural gas operations include gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP currently has more than 17,500 miles of pipeline in service and has a 50% interest in joint ventures that have approximately 500 miles of interstate pipeline in service. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Energy Transfer Equity, L.P. (NYSE:ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners, L.P. and approximately 62.5 million ETP limited partner units.
For more information on the ETC Tiger Pipeline, visit www.tigerpipeline.com.
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 ETP’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. ETP undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
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Investor Relations:
Energy Transfer
Brent Ratliff,
214-981-0700
or
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Granado
Communications Group
Vicki Granado, 214-504-2260
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