Energy Transfer Makes Moves in New Directions

May 6, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--After wrapping up several growth projects recently, midstream company Energy Transfer LP (NYSE:ET) (Dallas, Texas) is advancing with other activities, notably making sales and purchase agreements for its planned liquefied natural gas (LNG) production and export plant in Lake Charles, Louisiana, and shifting its sights toward petrochemicals.

As Europe attempts to wean itself off Russian natural gas, the world's energy dynamics are changing, and European demand for U.S. LNG is very strong. For some time, Energy Transfer has been planning an LNG production facility in Lake Charles. In early February, before Russia's invasion of Ukraine, Energy Transfer asked the U.S. Federal Energy Regulatory Commission (FERC) for a three-year extension to its permit to build the plant, enabling it to extend the plant's construction through late 2028. However, the current situation in Europe may be encouraging Energy Transfer to reconsider its proposed deferral.