Energy Transfer – Company Overview
Sunoco Logistics Customer Conference
October 18, 2012
Legal Disclaimer
• This document relates to a presentation by members of management of Energy Transfer Partners,
L.P. (ETP) and Energy Transfer Equity, L.P. (ETE). In this presentation, members of management
of ETP and ETE may make statements about future events, outlook and expectations related to
ETP and/or ETE and this document may contain statements about future events, outlook and
expectations related to ETP and/or ETE, all of which statements are forward-looking statements as
defined under federal law. Any statement made by a member of management of ETP or ETE in this
presentation and any statement in this document that is not a historical fact will be deemed to be a
forward-looking statement. These forward-looking statements rely on a number of assumptions
concerning future events that members of management of ETP and ETE believe to be reasonable,
but these statements are subject to a number of risks, uncertainties and other factors, many of
which are outside the control of ETP and ETE. While ETP and ETE believe that the assumptions
concerning these future events are reasonable, we caution that there are inherent risks and
uncertainties in predicting these future events that could cause the actual results, performance or
achievements of ETP and ETE to be materially different. These risks and uncertainties are
discussed in more detail in the filings made by ETP and ETE with the Securities and Exchange
Commission, copies of which are available to the public. ETP and ETE expressly disclaim any
intention or obligation to revise or publicly update any forward-looking statements, whether as a
result of new information, future events, or otherwise.
• All references in this presentation to capacity of a pipeline, processing plant or storage facility relate
to maximum capacity under normal operating conditions and with respect to pipeline transportation
capacity, is subject to multiple factors (including natural gas injections and withdrawals at various
delivery points along the pipeline and the utilization of compression) which may reduce the
throughput capacity from specified capacity levels.
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Company Overview
Energy Transfer Asset Overview
4
Pro Forma Organizational Structure
Public
LP
unitholders
Energy Transfer Equity, L.P.
(NYSE: ETE)
60% Ownership
LP Interest
GP Interest
IDRs
Public
LP
unitholders
Public
LP
unitholders
LP Interest
GP Interest
IDRs
Public
LP
unitholders
Regency Energy
Partners LP
(NYSE: RGP)
LP Interest
GP Interest
IDRs
40% Ownership
(Board Majority)
Energy Transfer
Partners, L.P.
(NYSE: ETP)
Sunoco Logistics Partners L.P.
(NYSE: SXL)
30%
interest
Gathering &
Processing
Contract
Compression
Contract
Treating
50%
interest
Midcontinent
Express
Pipeline
70%
interest
Lone Star
NGL LLC
JVs
49.99%
interest
HPC
ETP
HoldCo Corp
NGL
Intrastate
50%
interest
Citrus Corp
Interstate
Midstream
Sunoco, Inc.
Southern Union Company
50%
interest
Fayetteville
Express
Pipeline
Retail &
Marketing
LDC Divisions
Panhandle
Energy
Southern
Union Gas
Services
FGT
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Energy Transfer Family of Assets
• The Energy Transfer Family is a diversified, $50+ billion enterprise value partnership comprised
of:
– Energy Transfer Partners (ETP), a large-cap, investment grade MLP with intrastate transportation and storage, interstate
transportation, midstream operations and fractionation and liquids transportation operations
– Southern Union Company (SUG), a wholly-owned investment grade subsidiary with transportation, storage, gathering
and processing and distribution operations.
– Lone Star (LST), a joint venture owned 70% by ETP and 30% by RGP, provides natural gas liquids (NGL) storage,
transportation and fractionation
– Sunoco, Inc. (SUN), a wholly-owned subsidiary with strong brand and station image recognition, is a leading
transportation fuel provider through 4,900 retail outlets
– Sunoco Logistics Partners (SXL), a publicly-traded MLP that owns and operates a diverse mix of crude oil and refined
products, and terminalling, and storage facilities, as well as crude oil assets
– Regency Energy Partners (RGP), a mid-cap MLP with gathering and processing, transportation, contract compression,
contract treating, fractionation and liquids transportation operations
• Fully consolidated, ETE owns:
– Approximately 69,000 miles of natural gas, crude oil, NGL and refined products gathering and transportation pipelines
– 59 natural gas and NGL processing, conditioning, and treating facilities
– Approximately 176 Bcf of natural gas storage capacity
– 48 Million bbls working NGL storage capacity, 25 Million bbls working crude oil storage capacity and 16 Million bbls
working refined products storage capacity
– 1 fractionator (2 more under construction)
– One of North America’s largest liquefied natural gas import terminals
– More than 4,000,000 hp contract compression capacity
Note: Joint venture assets shown on consolidated basis; Includes previously announced projects under construction. Pro forma for Sunoco
acquisition and Southern Union dropdown. Consolidates Sunoco Logistics.
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Eagle Ford Shale Projects
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ETP Eagle Ford Shale Projects
Project
Description
Capacity
Expected
Completion
Estimated Cost
($ mm)
Midstream
Dos Hermanas
Pipeline
50-mile, 24-inch pipeline originating in northwest Webb County and extending to ETP's existing
Houston Pipeline rich gas gathering system in eastern Webb County
400 MMcf/d
In-service
Q4 2010
$43
San Cajos Pipeline &
Treating
48-mile, 30-inch pipeline originating in southwest La Salle County and extending to southwestern
McMullen County; Las Tiendas treating facilities capacity of 300 MMcf/d
210 MMcf/d
In-service
Q2 2011
$122
Chisholm Pipeline
76-mile, 20-inch pipeline extending from DeWitt County to ETP's La Grange Processing Plant in
Fayette County
100 MMcf/d, expandable to
300 MMcf/d
In-service
Q2 2011
$68
REM Phase I
160-mile, 30-inch pipeline originating in Dimmitt County and extending to the Chisholm Pipeline for
ultimate delivery to ETP’s processing plants
400 MMcf/d, expandable to
800 MMcf/d
In-service
Q4 2011
$230
Chisholm Plant
Natural gas processing plant located adjacent to ETP's existing La Grange Plant in Fayette County
120 MMcf/d
$70
REM Phase II
60-mile, 42-inch pipeline expansion, which will extend from the Chisholm Pipeline in DeWitt County
east into Jackson County
800 MMcf/d
In-service
Q1 2012
Q4 2012
$170
Jackson Plant
Natural gas processing plant located in Jackson County
400 MMcf/d, Phase I
Q1 2013
$400
200 MMcf/d, Phase II
Q1 2014
Kenedy Processing
Plant
Natural gas processing plant located in Karnes County
REM Expansion
37-miles, 30-inch pipeline expansion
200 MMcf/d, Phase III
200 MMcf/d
Q1 2014
Q4 2012
Q4 2013
$210
Included above
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Lone Star Projects
Mont Belvieu Fractionators
•
2 - 100,000 Bbl/d NGL fractionators to be
constructed at Mont Belvieu
•
Additional Y-grade liquids storage facilities
to be developed
•
A substantial amount of the fractionation
capacity will be utilized for NGLs from
ETP’s Justice Pipeline
•
Expected in-service Frac 1 Q1 2013
•
Expected in-service Frac 2 Q1 2014
West Texas Gateway Project (NGL) Pipeline
•
Approximately 570 miles of 16-inch pipe
with an initial capacity of 209,000 bpd
•
Lone Star has secured capacity through
ETP’s Justice NGL pipeline from Jackson
County to Mont Belvieu
•
ROW – Over 95% Complete
•
Mainline construction began in May
•
Estimated in-service no later than January
2013
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Interstate Segment
ETP Interstate
Transwestern
System overview
• Transports natural gas from the San Juan, Anadarko, and
Permian Basins to markets in the Midwest, Texas, Arizona,
New Mexico, Nevada, and California
Pipeline
• 2.8 Bcf/d total capacity with mainline capacity flowing west is
1.2 Bcf/day and San Juan Lateral capacity is 1.6 Bcf/day
Pipeline Miles
Throughput (Bcf/d)
2,690
2.8
Tiger
195
2.4
FEP (100%)
185
2.0
Citrus (100%)
5,400
3.1
Total
8,470
10.3
Transwestern
Tiger
• A 195-mile interstate natural gas pipeline connecting to ETP’s
system near Carthage, Texas, extending through the heart of
the Haynesville Shale and ending near Delhi, Louisiana
• Interconnects to seven interstate pipelines at various points in
Louisiana
• 2.4 Bcf/d of capacity sold under “take or pay” agreements with
9 – 14 years remaining under contract
FEP
• A 185-mile interstate natural gas pipeline originating near
Conway County, Arkansas, continuing eastward through
White County, Arkansas and terminates at an interconnect
with Trunkline Gas Company in Panola County, Mississippi
Citrus
• A 5,400-mile pipeline system that extends from South
Texas to Florida, with a capacity of 3.0 Bcf/d, delivering
approximately 63% of the natural gas consumed in the
Florida in 2011
• Over 65 interconnects with interstate and intrastate
pipelines
• Over 270 delivery points (240 in Florida)
• Over 97% of FGT revenue is derived from fixed
reservation fees
• 50% / 50% joint venture with Kinder Morgan
• 1.85 Bcf/d of capacity sold under “take or pay” agreements
with 9 – 11 years remaining under contract
• 50% / 50% joint venture with Kinder Morgan
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SUG Transportation and Storage
Panhandle Eastern Pipe Line (PEPL)
• Serves customers in the Midwest, Gulf Coast and
Midcontinent United States through four large diameter
pipelines extending from producing areas in the Anadarko
Basin of Texas, Oklahoma and Kansas through Missouri,
Illinois, Indiana, Ohio and into Michigan
System overview
Transportation
System
Pipeline Miles
Throughput (Bcf/d)
PEPL
6,000
2.8
Trunkline Gas
3,700
1.7
400
1.0
10,100
5.5
Sea Robin
Total
Trunkline Gas Company
• Delivers natural gas from the Gulf Coast areas of Texas and
Louisiana through two large diameter pipelines into Arkansas,
Mississippi, Tennessee, Kentucky, Illinois, Indiana and
Michigan
• 3,600 mile, 2-line system with 1.7 Bcf/d capacity
Storage
• Owns and leases a total of ~100 Bcf of storage assets in
IL, KS, LA, MI and OK which are connected to PEPL
Sea Robin
Trunkline LNG
• Two offshore Louisiana natural gas supply systems
extending approximately 81 miles into the Gulf of Mexico
• One of the nation’s largest LNG import terminals located in
Lake Charles, LA
• 400 mile offshore gathering pipeline with 1.0 Bcf/d
capacity
• 2.1 Bcf/d of peak send out capacity
• 9 Bcf of storage, 1 Bcf/d of processing capacity
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Sunoco Acquisition
Sunoco Business Segments
Retail Marketing
Logistics (SXL)
Refining
• ~4,900 retail outlets for the sale of
gasoline and middle distillates
• ~2,500 miles of refined products
pipelines located in the Northeast,
Midwest and Southwest
• Announced exit of refining business in
September 2011
• ~5 billion gallons of gasoline and diesel
fuel and $500 million of merchandise
sales per year
• Strong brand and station image
recognition
• Transitioning source of supply to third
parties
• ~5,400 miles of crude oil pipelines,
located principally in Oklahoma and
Texas
• ~42 million barrels of refined products
and crude oil terminal capacity
• Engaged in the acquisition and
marketing of crude oil
• SUN owns:
– 100% of the SXL GP interest and
IDRs
• Marcus Hook, PA refinery (175 MBbls/d)
sale announced July 2012
• Philadelphia refinery (330 MBbls/d)
– On July 2, 2012, announced a joint
venture with Carlyle
– SUN will maintain a minority
interest (30%)
– Carlyle will operate the refinery
– No additional capital will be
required from SUN
– 32.4% of SXL common units
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