Energy Transfer merger affects Dakota Access Pipeline
Energy Transfer Partners has become a wholly owned subsidiary of Sunoco Logistics, completing a merger declared in November 2016.
At the completion of the deal, Sunoco Logistics changed its name to Energy Transfer Partners and, earlier this week, started trading on the New York Stock Exchange under the ‘ETP’ abbreviation, which was previously assigned to Energy Transfer.
Both companies were subsidiaries of Dakota Access LLC – which owns 75 per cent of the Dakota Access Pipeline – resulting in the new Energy Transfer controlling 51 per cent of the entity.
The US$3.78 billion pipeline project, which recently announced it had completed horizontal directional drilling (HDD) underneath Lake Oahe, is expected to commence operations as soon a 14 May.
The 1,857-km pipeline will run from North Dakota, passing through South Dakota and Iowa, to a refinery in Patoka, outside Chicago, Illinois.
Prior to the merger, Sunoco Logistics’ assets included 9,500 km of crude oil and 1,450 km of natural gas pipelines, as well as ownership interests in 12 products and crude oil pipelines.
For more information visit the Energy Transfer Partners website.
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