Energy Transfer Partners

Energy Transfer Partners, L.P.
Public
Traded as NYSE: ETP
Industry Energy
Founded 1995 (1995)
Headquarters Dallas, Texas, U.S.
Key people
 Kelcy L. Warren, CEO
Products natural gas, propane
Number of employees
 9,466
Subsidiaries Southern Union Company
Sunoco
Dakota Access
Website www.energytransfer.com

Energy Transfer Partners is a U.S. Fortune 500 natural gas and propane company, founded in 1995 and headquartered in Dallas, Texas. As of January 2016, the company employed 9,466 individuals.[1] Kelcy Warren is the founder and current Chairman of the Board and Chief Executive Officer.[2][3][4] It is the parent company of Dakota Access, LLC, the company responsible for developing the controversial Dakota Access Pipeline.[5][6][7][8][9][10]

Overview

ETE is a master limited partnership, which owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P.(ETP) and about 50.2 million ETP limited partner units; it owns the general partner and 100% of the IDRs of Regency Energy Partners LP and about 26.3 million RGP limited partner units. ETE also owns a non-controlling interest in a corporation (ETP Holdco Corporation) that owns Southern Union Company and Sunoco, Inc. The ETE family of companies owns approximately 71,000 miles of natural gas, natural gas liquids, refined products, and crude pipelines. Energy Transfer Partners, L.P. is the parent company of Dakota Access, LLC, the company developing the controversial Dakota Access Pipeline.[5][6][11][8][9][10]

ETP holds a 100% interest in Lone Star NGL, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets in Texas, Louisiana and Mississippi.[1] ETP Holdco Corporation also owns Southern Union Company.[1]

In October 2012, Sunoco, Inc. became a wholly owned subsidiary of ETP via ETP HoldCo Corporation. It acquired the general partner interests, 100% of the incentive distribution rights, and a 32.4% limited partnership interest in Sunoco Logistics Partners L.P., which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminating and crude oil acquisition and marketing assets.[1]

In 2014, ETP acquired Stripes, a chain of 580+ convenience stores in Texas, New Mexico, and Oklahoma.[12] The convenience stores and retail portfolio are now branded under Sunoco and Aplus names as of year-end 2015.[1]

In January 2015, ETP acquired its affiliate Regency Energy Partners for around $11 billion.[13]

Dakota Access Pipeline

Dakota Access, LLC is an ETP subsidiary, tasked with building the Bakken pipeline, also known as the Dakota Access Pipeline.[14] In April 2016, three federal agencies — U.S. Environmental Protection Agency, U.S. Department of Interior, and Advisory Council on Historic Preservation — requested a full Environmental Impact Statement of the pipeline.[15] In July, the Standing Rock Sioux Tribe filed an injunction against the US Army Corps of Engineers to stop building the pipeline.[16][17] A group of young activists from Standing Rock ran from North Dakota to Washington, D.C., to present a petition in protest of the construction of the pipeline and launched an international campaign called ReZpect Our Water.[18] Protests have since erupted at a construction site near the Cannonball River in North Dakota, resulting in the arrest of hundreds and the use of force by a private security company, North Dakota State and county police, and the New Mexico National Guard.[19]

Energy Transfer has sued the environmental groups Greenpeace, BankTrack and earth first of terrorism under the patriot act[20] Energy Transfer is accusing these activists of attempting to profit on their 'eco-terrorism'. .[21] Banktrack has responded that the case is a strategic lawsuit against public participation without merit and that it is within their right to inform the public and banks about projects with 'actual negative social, environmental and human rights impacts.' .[22]

Divisions

References

  1. 1 2 3 4 5 "ETP 2015 10-K" (PDF). Retrieved 2016-12-10.
  2. ↑ "Company Overview". Energytransfer.com. Retrieved 6 December 2014.
  3. ↑ Charles Sizemore. "Kelcy Warren". Forbes. Retrieved 6 December 2014.
  4. ↑ "Kelcy L. Warren". Businessweek.com. Retrieved 6 December 2014.
  5. 1 2 "Company Overview". Energytransfer.com. Retrieved 6 December 2014.
  6. 1 2 "ETP: Summary for Energy Transfer Partners, L.P. - Yahoo! Finance". Yahoo! Finance. Retrieved 6 December 2014.
  7. ↑ "Energy Transfer Partners LP: NYSE:ETP quotes & news - Google Finance". Google.com. Retrieved 6 December 2014.
  8. 1 2 "ENERGY TRANSFER PARTNERS LP (ETP:New York Consolidated): Stock Quote & Company Profile - Businessweek". Businessweek.com. Retrieved 6 December 2014.
  9. 1 2 "ETP:New York Stock Quote - Energy Transfer Partners LP". Bloomberg. Retrieved 6 December 2014.
  10. 1 2 "Energy Transfer Partners LP (ETP.N)". Reuters.com. Retrieved 6 December 2014.
  11. ↑ "Energy Transfer Partners LP: NYSE:ETP quotes & news - Google Finance". Google.com. Retrieved 6 December 2014.
  12. ↑ Maykuth, Andrew. "Sunoco parent buys Texas chain for $1.8 billion". Philly.com. Retrieved 2 May 2014.
  13. ↑ "Energy Transfer Partners to buy Regency unit for $11 billion". Reuters. 26 January 2015. Retrieved 2015-03-25.
  14. ↑ William Petroski (25 August 2014). "Should farmers make way for the Bakken pipeline?". Press Citizen. Retrieved 4 December 2014.
  15. ↑ ICTMN Staff (28 April 2016). "Dakota Access Pipeline: Three Federal Agencies Side With Standing Rock Sioux, Demand Review". Indian Country Today Media Network. Retrieved 6 August 2016.
  16. ↑ Standing Rock Sioux Tribe v. U.S. Army Corps of Engineers (27 July 2016). "Complaint for Declaratory and Injunctive Relief" (PDF). In the United States District Court for the District of Columbia (1:16-cv-01534-Document 1). Retrieved 6 August 2016.
  17. ↑ Standing Rock Sioux Tribe v. U.S. Army Corps of Engineers (4 August 2016). "Memorandum in Support of Motion for Preliminary Injunction Expedited Hearing Requested" (PDF). In the United States District Court for the District of Columbia (1:16-cv-1534-JEB). Retrieved 6 August 2016.
  18. ↑ Amundson, Barry (29 July 2016). "Standing Rock tribe sues over Dakota Access pipeline permits". Grand Forks Herald. Retrieved 6 August 2016.
  19. ↑ Times, Los Angeles. "North Dakota pipeline activists say arrested protesters were kept in dog kennels". latimes.com. Retrieved 2016-10-31.
  20. ↑ nasdaq, Los Angeles. "Energy Transfer sues Greenpeace over Dakota pipeline". nasdaq.com. Retrieved 2017-09-01.
  21. ↑ bloomberg. "energy transfer sues Greenpeace claims it incites eco-terrorism". latimes.com. Retrieved 2017-09-01.
  22. ↑ Banktrack. "BankTrack statement on Dakota Access Pipeline lawsuit filed by ETP/ETE". banktrack. Retrieved 2017-09-01.
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