Energy Transfer Completes Sale of New England Gas Company Assets
DALLAS -- December 20, 2013
Energy Transfer Partners, L.P. (NYSE:ETP) today announced that the sale of the
assets of New England Gas Company ("NEG") to Liberty Utilities (New England
Natural Gas Company) Corp. ("Liberty") was completed for a total purchase
price of $60 million, with approximately $40 million in cash proceeds and the
assumption by Liberty of approximately $20 million in debt. NEG is a division
of Southern Union Company ("Southern Union"), a wholly-owned indirect
subsidiary of ETP.
The sale by Southern Union of the NEG assets and sale of Missouri Gas Energy
assets, which closed September 1, 2013, demonstrates ETP’s efforts to
streamline and integrate its asset portfolio through the divestiture of
non-core assets, and continue to deliver on its promise to simplify and to
enhance unitholder value.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership
owning and operating one of the largest and most diversified portfolios of
energy assets in the United States. ETP currently has natural gas operations
that include approximately 43,000 miles of gathering and transportation
pipelines, treating and processing assets, and storage facilities. ETP owns
100% of ETP Holdco Corporation, which owns Southern Union Company and Sunoco,
Inc., and a 70% interest in Lone Star NGL LLC, a joint venture that owns and
operates natural gas liquids storage, fractionation and transportation assets.
ETP also owns the general partner, 100% of the incentive distribution rights,
and approximately 33.5 million common units in Sunoco Logistics Partners L.P.
(NYSE: SXL), which operates a geographically diverse portfolio of crude oil
and refined products pipelines, terminalling and crude oil acquisition and
marketing assets. ETP’s general partner is owned by Energy Transfer Equity,
This press release may include certain statements concerning expectations for
the future that are forward-looking statements as defined by federal law. Such
forward-looking statements are subject to a variety of known and unknown
risks, uncertainties, and other factors that are difficult to predict and many
of which are beyond management’s control. An extensive list of factors that
can affect future results are discussed in ETP’s Annual Report on Form 10-K
and other documents filed from time to time with the Securities and Exchange
Commission. ETP undertakes no obligation to update or revise any
forward-looking statement to reflect new information or events.
The information contained in this press release is available on our website at
Brent Ratliff, 214-981-0700
Granado Communications Group
Vicki Granado, 214-599-8785
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