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Researched by Industrial Info Resources (Sugar Land, Texas)--Midstream company Energy Transfer (NYSE:ET) (Dallas, Texas) has made a very successful foray into the natural gas liquids (NGL) export business. The company operates export facilities in Nederland, Texas, and the first very large ethane carrier (VLEC) was loaded from its joint venture Orbit terminal in January last year.
In a Wednesday conference call with analysts, Energy Transfer Chief Financial Officer Tom Long said, "In total, our percentage of worldwide NGL exports has doubled over the last two years, capturing nearly 20% of the world market, which was more than any other company or country exported during the fourth quarter of 2021." In 2021, Energy Transfer loaded nearly 26 million barrels of ethane out of the Orbit facility, but it's not stopping there; for 2022, the company expects to load a minimum of 40 million barrels, increasing to 60 million barrels in 2023.
As the company ramps up its ethane and liquefied petroleum gas (LPG) exports, it also has its sights set on pipeline projects, some of which were passed along from its December acquisition of Enable Midstream Partners. Such inherited projects include the Gulf Run natural gas pipeline in Louisiana, which will provide 1.65 billion feet per day (Bcf/d) of capacity from the Haynesville Shale to the Gulf Coast. The project is backed by a 20-year commitment from Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) and QatarEnergy's (Doha, Qatar) Golden Pass liquefied natural gas (LNG) project. Construction on the pipeline is underway and is expected to be completed in late 2022. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports.
In the process of wrapping up construction is an eighth NGL fractionation train at the company's facility in Mont Belvieu, Texas. The 150,000-barrel-per-day (BBL/d) train will bring Energy Transfer's fractionation capacity at the facility to more than 1 million BBL/d. Subscribers to Industrial Info's Oil & Gas Production Database can click here for the project report.
And that's just in the U.S. In July of last year, Energy Transfer signed a memorandum of understanding with Panama to study the feasibility of the proposed Trans-Panama Gateway LPG pipeline. Long said, "We anticipate working closely with Panama to successfully bring this project to fruition. Panama's geographic location and favorable investment climate make this an attractive project. We continue to believe this project will create the most liquid and attractive LPG supply hub in the world and are excited about the opportunity it presents." Subscribers can click here for the report.
Like other companies, Energy Transfer is increasingly focusing on environmental, social and governance (ESG) issues and hired a vice president of alternative energy in January. According to Long, the role is responsible for developing alternative energy and carbon-capture projects for Energy Transfer, along with various ESG initiatives, including the development of carbon-capture offset programs.
On the carbon-capture front, Energy Transfer is pursuing a project at its Marcus Hook NGL export terminal in Pennsylvania that would capture carbon dioxide from the facility's flue gas and deliver it to customers for use in the food and beverage industry. Subscribers to Industrial Info's Terminals Plant Database can click here for the plant profile. Long said, "This project looks financially attractive based upon preliminary cost estimates and design feasibility studies. We are also pursuing several carbon projects related to our assets, including projects involving the capture of CO2 from processing and treating plants for use in enhanced oil recovery for sequestration."
While Energy Transfer pursues these projects, it has delayed one the major ones on its books: the Lake Charles LNG plant in Louisiana. Earlier this month, the company asked the U.S. Federal Energy Regulatory Commission (FERC) for a three-year extension to build the plant. Energy Transfer wants to be able to extend construction of the Lake Charles LNG facility through late 2028. Subscribers can click here for related reports.
Energy Transfer reported fourth-quarter 2021 net income of $921 million, an increase of $412 million compared with the same period of 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
In a Wednesday conference call with analysts, Energy Transfer Chief Financial Officer Tom Long said, "In total, our percentage of worldwide NGL exports has doubled over the last two years, capturing nearly 20% of the world market, which was more than any other company or country exported during the fourth quarter of 2021." In 2021, Energy Transfer loaded nearly 26 million barrels of ethane out of the Orbit facility, but it's not stopping there; for 2022, the company expects to load a minimum of 40 million barrels, increasing to 60 million barrels in 2023.
As the company ramps up its ethane and liquefied petroleum gas (LPG) exports, it also has its sights set on pipeline projects, some of which were passed along from its December acquisition of Enable Midstream Partners. Such inherited projects include the Gulf Run natural gas pipeline in Louisiana, which will provide 1.65 billion feet per day (Bcf/d) of capacity from the Haynesville Shale to the Gulf Coast. The project is backed by a 20-year commitment from Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) and QatarEnergy's (Doha, Qatar) Golden Pass liquefied natural gas (LNG) project. Construction on the pipeline is underway and is expected to be completed in late 2022. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports.
In the process of wrapping up construction is an eighth NGL fractionation train at the company's facility in Mont Belvieu, Texas. The 150,000-barrel-per-day (BBL/d) train will bring Energy Transfer's fractionation capacity at the facility to more than 1 million BBL/d. Subscribers to Industrial Info's Oil & Gas Production Database can click here for the project report.
And that's just in the U.S. In July of last year, Energy Transfer signed a memorandum of understanding with Panama to study the feasibility of the proposed Trans-Panama Gateway LPG pipeline. Long said, "We anticipate working closely with Panama to successfully bring this project to fruition. Panama's geographic location and favorable investment climate make this an attractive project. We continue to believe this project will create the most liquid and attractive LPG supply hub in the world and are excited about the opportunity it presents." Subscribers can click here for the report.
Like other companies, Energy Transfer is increasingly focusing on environmental, social and governance (ESG) issues and hired a vice president of alternative energy in January. According to Long, the role is responsible for developing alternative energy and carbon-capture projects for Energy Transfer, along with various ESG initiatives, including the development of carbon-capture offset programs.
On the carbon-capture front, Energy Transfer is pursuing a project at its Marcus Hook NGL export terminal in Pennsylvania that would capture carbon dioxide from the facility's flue gas and deliver it to customers for use in the food and beverage industry. Subscribers to Industrial Info's Terminals Plant Database can click here for the plant profile. Long said, "This project looks financially attractive based upon preliminary cost estimates and design feasibility studies. We are also pursuing several carbon projects related to our assets, including projects involving the capture of CO2 from processing and treating plants for use in enhanced oil recovery for sequestration."
While Energy Transfer pursues these projects, it has delayed one the major ones on its books: the Lake Charles LNG plant in Louisiana. Earlier this month, the company asked the U.S. Federal Energy Regulatory Commission (FERC) for a three-year extension to build the plant. Energy Transfer wants to be able to extend construction of the Lake Charles LNG facility through late 2028. Subscribers can click here for related reports.
Energy Transfer reported fourth-quarter 2021 net income of $921 million, an increase of $412 million compared with the same period of 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
