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Energy Transfer Mt Belvieu frac on track; shifts Appalachian project to 3Q 2017

HOUSTON, February 25, 2016 (PCW) -– Energy Transfer on Thursday said its fourth fractionator at Mont Belvieu is on track to be operational in the fourth quarter of the year.

The 120,000 b/d fractionator will cost some $450 million.

Its 475,000 b/d Lone Star Express pipeline, which runs from the Delaware Basin to Mont Belvieu, is also on track to be phased in in 2Q with full completion in 4Q.

The company shifted its in-service date for its Revolution project, which includes a rich-gas pipeline and fractionation facility at Marcus Hook, to 3Q 2017 from 2Q 2017. Company executives said the timing was moved to be in line with its subsidiary Sunoco Logistics’ Mariner East II pipeline.

On Thursday morning, Sunoco said it was delaying the in-service of Mariner East II to 3Q 2017 in order to secure the necessary permits. Mariner East II is expected to transport the extracted NGLs coming off the Revolution pipeline.

The project has an estimated cost of $1.5 billion.

Regarding its impending acquisition of Tulsa-based Williams, Energy Transfer said it now expects to close the deal sometime in the second quarter.

Energy Transfer reported fourth-quarter earnings of $21 million, compared to the $245 million loss seen in 4Q 2014. The improved performance was largely attributed to increased transported volumes of natural gas, NGLs, crude and refined products despite the lower-priced commodity environment. —- Samantha Hartke

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