Energy Transfer boosts earnings, mulls new Permian pipe
US midstream company Energy Transfer Partners said February 16 it was advancing a new natural gas pipeline in the Permian basin that would provide access to export markets on the Gulf Coast.
In its Q4 earnings release, in which it reported Q4 2021 net income of $1.23bn against earnings of $833mn a year earlier, Energy Transfer said it was evaluating a new Permian “takeaway project” that would use existing assets and a new pipeline to connect basin supply to Gulf Coast markets, including the Houston Ship Channel and the Katy, Carthage and Henry Hub trading hubs.
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Later, Energy Transfer co-CEO Thomas Long told analysts in a conference call the project could be completed in two years or less, pending a final investment decision.
The company also said it had recently completed and was in the process of commissioning the final phase of its Mariner East project in the Appalachia region. Mariner East comprises several natural gas liquids pipelines across Pennsylvania connecting Marcellus and Utica NGL supplies to markets throughout the Northeast, including Energy Transfer’s Marcus Hook terminal on the east coast.
And it has also started construction on its $500mn Gulf Run pipeline, which will provide 1.65bn ft3/day of service capacity between the Haynesville shale basin and the Gulf Coast. Completion of the 135-mile pipeline is expected by year-end.