Energy Transfer Partners (ETP) has closed the public offering of common units designed to raise capital to fund capital expenditures related to the company’s pipeline construction projects, as well as repay amounts of existing credit.
ETP – in partnership with Kinder Morgan Express – is scheduled to commence construction on the 42 inch diameter, 298 km Fayetteville Express Pipeline in early 2010 after receiving Federal Energy Regulatory Commission (FERC) approval for the project in December 2009.
ETP wholly-owned subsidiary ETC Tiger Pipeline LLC is proposing the 42 inch diameter, 290 km Tiger Pipeline. Construction of the natural gas pipeline is expected to commence by June 2010 and be in service in the first half of 2011 pending FERC approval expected in February 2010.
ETC Tiger has recently awarded Resource Environmental Solutions a contract to mitigate unavoidable impacts on forested wetlands along the proposed pipeline route. Restoration activities will include planting of bottomland hardwood forest and bald cypress swamp, restoration of surface hydrology and the provision of long term monitoring and maintenance.
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