Energy News Today

Energy Transfer Partners’ subsidiary interests are hidden gems

Energy Transfer Partners, apart from having significant midstream operations of its own, also owns interests in several other MLPs (or master limited partnerships).

As you can see in the image above, it owns ~67 million limited partner (or LP) units and 50% general partner units (or GP) and incentive distribution rights (or IDR) of Sunoco Logistics Partners (SXL).

It owns 15 million LP units and all of Sunoco LP’s (SUN) GP and IDRs.

It has a 40% interest in the Lake Charles LNG export project—which can be quite promising, given low natural gas prices in the US and the kind of favor that US LNG projects have found among investors and LNG buyers, relative to similar projects elsewhere.

The company also owns 31.4 million LP units and 6.3 million Class F units of Regency Energy Partners (RGP). Class F units have similar rights to LP units, but they won’t receive distributions for a couple of years, after which they convert to LP units.

Finally, ETP also has a 33% interest in Philadelphia Energy Solutions, which in turn controls PES Logistics Partners’ GP.

Read More: Energy Transfer Partners’ subsidiary interests are hidden gems

2020-10-09 14:37:00

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