- Business
- Energy Transfer LP (NYSE: ET), through its subsidiaries including Sunoco LP, USA Compression Partners LP and Lake Charles LNG, owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with more than 125,000 miles of pipeline and associated infrastructure spanning 44 states and major U.S. production basins; the company engages in the transportation, storage, and terminaling of natural gas, crude oil, natural gas liquids (NGLs), refined products, and liquefied natural gas, including intrastate and interstate natural gas pipelines (approximately 90,000 miles total), natural gas gathering and processing facilities, NGL pipelines and fractionation plants (such as those in Mont Belvieu, Texas), crude oil pipelines (over 10,850 miles), refined products transportation and marketing via Sunoco LP's extensive fuel distribution network, terminaling services including export facilities like Nederland Flexport and Price River Terminal, and water gathering and disposal services.
Headquartered in Dallas, Texas, and founded in 1996, Energy Transfer primarily serves industrial end-users, utilities, power generators, producers, refiners, and marketers across the U.S., with key operations in the Permian Basin, Southwest, Midwest, Northeast, Gulf Coast, and regions including Texas, New Mexico, Pennsylvania, Ohio, and Louisiana; it targets growing demand from data centers, high-tech industries, and utilities through natural gas supply agreements and power generation facilities.
In recent developments, Energy Transfer completed acquisitions of Lotus Midstream (2023), Crestwood Equity Partners (2023), and WTG Midstream (2024), formed a joint venture with Sunoco LP for Permian Basin crude oil and produced water gathering assets, and entered strategic partnerships including long-term natural gas supply deals with Oracle for data centers and an agreement with Chevron for its Lake Charles LNG export project; the company sanctioned major expansions such as the $2.7 billion Hugh Brinson Pipeline (expected in-service 2026), Desert Southwest Pipeline expansion on Transwestern (516 miles, $5.3 billion, fully contracted for 25 years, in-service Q4 2029), Mustang Draw II processing plant (Q4 2026), Bethel storage cavern doubling capacity to 12 Bcf (late 2028), Flexport NGL expansions, Badger and Red Lake processing plants, Price River Terminal doubling export capacity, and eight 10-megawatt natural gas-fired power plants, while planning $5 billion in growth capital expenditures for 2026 targeting mid-teen returns.