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Released November 04, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Energy Transfer (NYSE:ET) (Dallas, Texas) was able to boost its third-quarter 2022 net income from last year, partly due to higher realized shipping volumes across its core segments, which include natural gas, natural gas liquids (NGLs) and crude oil transport.
In addition to pipeline transmission, Energy Transfer is a leader in the export of NGLs and only expects its frontrunner position to grow, with the company's terminals in Nederland, Texas, and Marcus Hook, Pennsylvania, being its main export outlets.
In this week's earnings conference call with analysts, Energy Transfer Co-Chief Executive Officer Tom Long said, "For full-year 2022, we expect to load more than 40 million barrels of ethane out of Nederland, with that increasing to approximately 60 million barrels for 2023. In total, we continue to export more NGLs than any other company or country, with our percentage of worldwide NGL exports remaining at approximately 20% of the world market." Subscribers to Industrial Info's Global Market Intelligence (GMI) Terminals Plant Database can click here for the plant profile of the Nederland and here for Marcus Hook.
In addition to its export terminals, Energy Transfer also has a backlog of midstream projects, including natural gas processing, fractionation and a major pipeline. According to a company press release, more than 90% of Energy Transfer's growth capital spending comprises projects that already are online or expected to be online before the end of 2023.
Among the company's largest projects is the Gulf Run natural gas pipeline in Louisiana, which will carry up to 1.65 billion cubic feet per day (Bcf/d) of gas from the Haynesville Shale to the liquefied natural gas (LNG) market on the Gulf Coast. Mainline construction recently was finished, and remaining compression projects are expected to be completed by the end of this year. The pipeline is backed by a 20-year commitment for 1.1 Bcf/d for Golden Pass LNG (Houston, Texas), and Long said Energy Transfer was pleased with the results of a recently concluded, non-binding open season for the pipeline. Subscribers to Industrial Info's Oil & Gas Project Database can click here for the Gulf Run project details and here for information on the Golden Pass plant.
Long said construction of an eighth fractionator at Energy Transfer's Mont Belvieu, Texas, complex is proceeding on schedule and is expected to be online in the third quarter of next year. The 150,000-barrel-per-day (BBL/d) fractionator will bring total site capacity to 1.1 million BBL/d. Subscribers can click here for more details.
Energy Transfer also is increasing its footprint in the natural gas processing sector. Scheduled to be online by the end of the year is the Grey Wolf processing plant in Texas' Delaware Basin. The plant will process an inlet feed of approximately 230 million cubic feet per day, producing 16,000 BBL/d of NGLs. Construction on the plant kicked off earlier this year. Subscribers can click here for the full report.
Also under construction in the Delaware Basin is the Bear cryogenic processing plant, construction of which kicked off recently and has been accelerated to meet growing demand. The plant will process up to 220 million cubic feet of natural gas per day and is expected to go into service in the second quarter of next year. Subscribers can click here for the full report.
Energy Transfer also is at work on debottlenecking and modernization projects that will add transmission capacity out of the Permian Basin.
Long said, "In addition to these ongoing projects, we continue to evaluate and have customer discussions regarding a number of other projects that, over the long term, could provide significant upside to our business." These include a potential new gas pipeline out of the Permian and a possible petrochemical plant on the Gulf Coast. Subscribers to Industrial Info's Chemical Processing Project Database can click here for the announcement. "We remain optimistic that we can bring these projects to [a final investment decision] and look forward to sharing any significant updates on these projects at the appropriate time," said Long.
For full-year 2022, Energy Transfer expects growth capital expenditures to be at the high end of its range of $1.8 billion to $2.1 billion. The company reported third-quarter 2022 net income of $1 billion, compared with $635 million in the prior year.
Subscribers can click here for reports on all of the projects discussed in this article.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
In addition to pipeline transmission, Energy Transfer is a leader in the export of NGLs and only expects its frontrunner position to grow, with the company's terminals in Nederland, Texas, and Marcus Hook, Pennsylvania, being its main export outlets.
In this week's earnings conference call with analysts, Energy Transfer Co-Chief Executive Officer Tom Long said, "For full-year 2022, we expect to load more than 40 million barrels of ethane out of Nederland, with that increasing to approximately 60 million barrels for 2023. In total, we continue to export more NGLs than any other company or country, with our percentage of worldwide NGL exports remaining at approximately 20% of the world market." Subscribers to Industrial Info's Global Market Intelligence (GMI) Terminals Plant Database can click here for the plant profile of the Nederland and here for Marcus Hook.
In addition to its export terminals, Energy Transfer also has a backlog of midstream projects, including natural gas processing, fractionation and a major pipeline. According to a company press release, more than 90% of Energy Transfer's growth capital spending comprises projects that already are online or expected to be online before the end of 2023.
Among the company's largest projects is the Gulf Run natural gas pipeline in Louisiana, which will carry up to 1.65 billion cubic feet per day (Bcf/d) of gas from the Haynesville Shale to the liquefied natural gas (LNG) market on the Gulf Coast. Mainline construction recently was finished, and remaining compression projects are expected to be completed by the end of this year. The pipeline is backed by a 20-year commitment for 1.1 Bcf/d for Golden Pass LNG (Houston, Texas), and Long said Energy Transfer was pleased with the results of a recently concluded, non-binding open season for the pipeline. Subscribers to Industrial Info's Oil & Gas Project Database can click here for the Gulf Run project details and here for information on the Golden Pass plant.
Long said construction of an eighth fractionator at Energy Transfer's Mont Belvieu, Texas, complex is proceeding on schedule and is expected to be online in the third quarter of next year. The 150,000-barrel-per-day (BBL/d) fractionator will bring total site capacity to 1.1 million BBL/d. Subscribers can click here for more details.
Energy Transfer also is increasing its footprint in the natural gas processing sector. Scheduled to be online by the end of the year is the Grey Wolf processing plant in Texas' Delaware Basin. The plant will process an inlet feed of approximately 230 million cubic feet per day, producing 16,000 BBL/d of NGLs. Construction on the plant kicked off earlier this year. Subscribers can click here for the full report.
Also under construction in the Delaware Basin is the Bear cryogenic processing plant, construction of which kicked off recently and has been accelerated to meet growing demand. The plant will process up to 220 million cubic feet of natural gas per day and is expected to go into service in the second quarter of next year. Subscribers can click here for the full report.
Energy Transfer also is at work on debottlenecking and modernization projects that will add transmission capacity out of the Permian Basin.
Long said, "In addition to these ongoing projects, we continue to evaluate and have customer discussions regarding a number of other projects that, over the long term, could provide significant upside to our business." These include a potential new gas pipeline out of the Permian and a possible petrochemical plant on the Gulf Coast. Subscribers to Industrial Info's Chemical Processing Project Database can click here for the announcement. "We remain optimistic that we can bring these projects to [a final investment decision] and look forward to sharing any significant updates on these projects at the appropriate time," said Long.
For full-year 2022, Energy Transfer expects growth capital expenditures to be at the high end of its range of $1.8 billion to $2.1 billion. The company reported third-quarter 2022 net income of $1 billion, compared with $635 million in the prior year.
Subscribers can click here for reports on all of the projects discussed in this article.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
