Energy Transfer, Suncor combine to operate 5,000 miles of oil, produced water pipelines in Permian basin
(UI) – Energy Transfer LP and Sunoco LP announced the formation of a joint venture combining their respective crude oil and produced water gathering assets in the Permian basin.
Energy Transfer will serve as the operator of the joint venture and contribute its Permian crude oil and produced water gathering assets and operations. Sunoco will contribute all its Permian crude oil gathering assets and operations to the joint venture.
Energy Transfer’s long-haul crude pipeline network that provides transportation of crude oil out of the Permian basin to Nederland, Houston, and Cushing is excluded from the joint venture.
The joint venture will operate more than 5,000 miles of crude oil and water gathering pipelines with crude oil storage capacity in excess of 11 million barrels.
Energy Transfer will hold a 67.5% interest in the joint venture with Sunoco holding a 32.5% interest.
Energy Transfer LP owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with more than 130,000 miles of pipeline and associated energy infrastructure. Energy Transfer’s strategic network spans 44 states with assets in all of the major U.S. production basins.
Sunoco LP is an energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico. The Partnership’s midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals.
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