[Context: On October 31, Blackstone Energy closed on the previously announced acquisition of a 32.44% stake in an Energy Transfer entity owning Rover Pipeline Project. Further details and related links are below.]
Energy Transfer Announces the Closing of the Previously Announced Sale of 32.44% Stake in Entity Owning Rover Pipeline Project to Blackstone Energy Partners
October 31, 2017 06:00 PM Eastern Daylight Time
DALLAS–(BUSINESS WIRE)–Energy Transfer Partners, L.P. (NYSE: ETP) today announced that its wholly owned subsidiaries, Energy Transfer Interstate Holdings, LLC (“ETIH”) and ET Rover Pipeline LLC (“HoldCo”), have closed the previously announced sale of a 49.9% interest in HoldCo. HoldCo owns a 65% interest in Rover Pipeline LLC. As a result of this closing, HoldCo is now owned 50.1% by Energy Transfer and 49.9% by Blackstone Energy Partners.
Phase 1A of the Rover Pipeline now transports more than one billion cubic feet per day of natural gas from Cadiz, Ohio to Defiance, Ohio. Upon full completion, the Rover Pipeline will be an approximately 713 mile pipeline designed to transport 3.25 billion cubic feet of natural gas per day from the Marcellus and Utica Shale production areas to markets across the United States as well as into Union Gas Dawn Hub in Ontario, Canada.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. Strategically positioned in all of the major U.S. production basins, ETP owns and operates a geographically diverse portfolio of complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. ETP’s general partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE). For more information, visit the Energy Transfer Partners, L.P. website at energytransfer.com.
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited partnership that owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE: ETP) and Sunoco LP (NYSE: SUN). ETE also owns Lake Charles LNG Company. On a consolidated basis, ETE’s family of companies owns and operates a diverse portfolio of natural gas, natural gas liquids, crude oil and refined products assets, as well as retail and wholesale motor fuel operations and LNG terminalling.