Energy Transfer Announces Higher Transportation Volumes for Q1 2022
(Reuters) — Energy Transfer LP had higher transportation volumes across all of its segments for the first quarter of 2022 and completed construction on the final phase of its Mariner East project, the company said in its first quarter earnings release on Wednesday.
The completed Mariner East construction brings Energy Transfer's total natural gas liquids capacity on the Mariner East pipeline system to more than 365,000 barrels per day, including ethane, the company said. The company reported adjusted EBITDA of $3.34 billion for the first quarter, lower than for the same period a year ago when a winter storm boosted earnings for the company.
During the quarter, Energy Transfer also completed capacity expansions on its Cushing South crude oil pipeline and on its Permian Bridge Project.
Energy Transfer continues to pursue a natural gas pipeline project from the Permian Basin to address the growing need for additional natural gas takeaway from the region, the company said.
It started construction on a cryogenic processing plant in the Permian, a natural gas pipeline for the Haynesville Shale Basin and the U.S. Gulf Coast.
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