Energy Transfer Partners LP is considering constructing a new crude oil pipeline from the Permian basin in Texas to Nederland, Texas.
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"ETP considering new Texas Permian basin pipeline"
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Energy Transfer Partners LP is considering constructing a new crude oil pipeline from the Permian basin in Texas to Nederland, Texas, a company executive said on a fourth-quarter earnings call yesterday.
The company said it was “aggressively pursuing a larger project” without giving specific details.“We’re listening to our customers and we’re going to build whatever capacity is warranted after those discussions,” Thomas Long, Chief Financial Officer said.
Energy Transfer Partners also said it brought Phase 1 of its 100 000 bpd Permian Express 3 pipeline online in Q4, with additional volumes expected to come online later this year.
The company said it is evaluating an additional 200 000 bpd expansion on the line that flows from the Permian to Nederland.
Energy Transfer Partners has suffered construction delays and court challenges to several projects, including the Bayou Bridge line, its Dakota Access crude pipeline and Rover natural gas line.
The company said that Phase 1 of Rover pipeline, the biggest natural gas pipeline under construction in the US, is now capable of transporting more than 1.7 billion ft3/d of natural gas from Cadiz, Ohio, to Defiance, Ohio.
“Today, we are more than 99% complete with construction for the full project,” a company executive said on the earnings call with analysts.
Shares of Energy Transfer Partners surged nearly 6% to a high of US$19.32 on the New York Stock Exchange on Thursday.
Shares are enjoying strong gains after the company posted better than expected Q4 results and after it received the ok from the FERC to help advance its Rover natural gas pipeline.
Read the article online at: https://www.energyglobal.com/pipelines/project-news/23022018/etp-considering-new-texas-permian-basin-pipeline/