Company:Energy Transfer Partners

Short description: American energy pipeline company

Energy Transfer LP

Type	Delaware-domiciled master limited partnership
Traded as	NYSE: ET
Industry	Petroleum industry
Founded	1995 (1995)
Founder	Kelcy Warren Ray Davis
Headquarters	Dallas, Texas, United States
Key people	Kelcy Warren,Chairman Thomas E. Long, Co-CEO Marshall S. (Mackie) McCrea III, Co-CEO Bradford D. Whitehurst, CFO Rick Perry, Director
Products	Pipeline transport
Revenue	$38.954 billion (2020)
Net income	-$647 million (2020)
Total assets	$95.144 billion (2020)
Total equity	$31.388 billion (2020)
Number of employees	11,421 (2020)
Subsidiaries	Sunoco Lake Charles LNG
Website	www.energytransfer.com
Footnotes / references

Energy Transfer LP is an American company engaged in natural gas and propane pipeline transport. It is organized under Delaware state laws and headquartered in Dallas, Texas. It was founded in 1995 by Ray Davis and Kelcy Warren, who remains Chairman and CEO. It owns a 36.4% interest in Dakota Access, LLC, the company responsible for developing the Dakota Access Pipeline.

Corporate structure

Energy Transfer owns controlling interests in Sunoco LP, 100% of Sunoco Logistics Partners Operations L.P., the general partner of USA Compression Partners L.P., 100% of Lake Charles LNG, which owns an LNG import terminal and regasification facility near Lake Charles, Louisiana, 9,400 miles (15,100 km) of natural gas transportation pipelines with approximately 21 billion cubic feet (590 million cubic meters) per day of transportation capacity and 3 natural gas storage facilities in Texas and 12,200 miles (19,600 km) of interstate natural gas pipelines with approximately 10.3 billion cu ft (290 million m³) per day of transportation capacity, 36.4% of the Dakota Access Pipeline and the Energy Transfer Crude Oil Pipeline, 60% of the Bayou Bridge Pipeline, 50% of the Florida Gas Transmission pipeline, 100% of the Trunkline Pipeline, 100% of the Transwestern Pipeline, 100% of the Panhandle Eastern, 100% of the Sea Robin Pipeline, the Revolution Pipeline, the Mariner East pipelines, and 32.6% of the Rover pipeline. As of 2022, it controlled 11,600 miles of pipelines and two storage facilities in the state of Texas.

History

The company was founded by Kelcy Warren and Ray Davis in 1995. In 2011, the company along with Regency Energy Partners purchased midstream assets from Castleton Commodities International for $2 billion.

In October 2012, Sunoco, Inc., became a wholly owned subsidiary of the company. 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. The same year it acquired Southern Union Company.

In August 2014, the company acquired Susser Holdings Corporation, which operated Stripes Convenience Stores, a chain of 580 stores located in Texas , New Mexico, and Oklahoma, which were re-branded under the Sunoco and A-Plus names.

In January 2015, the company acquired Regency Energy Partners for $11 billion.

In October 2018, the company was renamed as Energy Operating L.P. after it was acquired by Energy Transfer Equity. In September 2019, the company acquired SemGroup for $5 billion. In January 2020, former Energy Secretary Rick Perry rejoined the company's board.

In August 2023, it was announced Energy Transfer had signed a definitive agreement to acquire its Houston-headquartered rival, Crestwood Equity Partners for approximately $7.1 billion.

Dakota Access Pipeline

Dakota Access, LLC is owned 36.4% by the company and built the Bakken pipeline, also known as the Dakota Access Pipeline. In April 2016, the United States Environmental Protection Agency, United States Department of the Interior, and Advisory Council on Historic Preservation requested a full Environmental Impact Statement of the pipeline. In July 2016, the Standing Rock Sioux Tribe filed an injunction against the U.S. Army Corps of Engineers to stop building the pipeline. 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. In October 2016, Dakota Access Pipeline protests 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 North Dakota National Guard.

In August 2017, Energy Transfer sued environmental groups Greenpeace USA, BankTrack and Earth First! under the Patriot Act. Energy Transfer accused these activists of attempting to profit via eco-terrorism. Banktrack responded that the case is a strategic lawsuit against public participation without merit and that it is legal to inform the public and banks about projects with 'actual negative social, environmental and human rights impacts.' In 2019 a federal court in North Dakota dismissed the racketeering and defamation lawsuit filed by Energy Transfer Partners LP, the builder of the 1,000-mile Dakota Access Pipeline, against Greenpeace USA, EarthFirst and BankTrack for their pipeline protests. The lawsuit alleged Greenpeace USA misled the public with false claims about the Standing Rock Sioux tribes' sacred sites and the likelihood the pipeline would contaminate the Missouri River in North Dakota. In contrast, a 2018 Greenpeace report said Energy Transfer pipelines and those owned by the company's subsidiaries "spilled over 500 times in the last decade."