About Energy Transfer LP

Energy Transfer LP and its subsidiaries (Energy Transfer) provides energy-related services. The primary activities in which the company are engaged, which are in the United States, and the operating subsidiaries through which the company conducts those activities are as follows: natural gas operations, including natural gas midstream and intrastate transportation and storage; interstate natural gas transportation and storage; and crude oil, NGL and refined products transportation, terminalling services and acquisition and marketing activities, as well as NGL storage and fractionation services. In addition, the company owns investments in other businesses, including Sunoco LP and USAC, both of which are publicly traded master limited partnerships. Energy Transfer derives cash flows from distributions related to its investment in its subsidiaries, including Sunoco LP and USAC. In September 2022, the company completed the acquisition of Woodford Express, LLC, which owns a gas gathering and processing system in the SCOOP play of Southern Oklahoma. In August 2022, the company completed the sale of its interest in Energy Transfer Canada. In March 2022, the company purchased the membership interests in Caliche Coastal Holdings, LLC (subsequently renamed Energy Transfer Spindletop LLC), which owns an underground storage facility near Mont Belvieu, Texas. Segments Intrastate Transportation and Storage Segment Natural gas transportation pipelines receive natural gas from other mainline transportation pipelines, storage facilities and gathering systems and deliver the natural gas to industrial end-users, storage facilities, utilities, power generators and other third-party pipelines. Through the company’s Intrastate Transportation and Storage segment, the company owns and operates (through wholly-owned subsidiaries or through joint venture interests) approximately 11,600 miles of natural gas transportation pipelines with approximately 24 Bcf/d of transportation capacity, three natural gas storage facilities located in the state of Texas and two natural gas storage facilities located in the state of Oklahoma. Energy Transfer operates one of the largest intrastate pipeline systems in the United States providing energy logistics to major trading hubs and industrial consumption areas throughout the United States. The company’s Intrastate Transportation and Storage segment focuses on the transportation of natural gas to major markets from various prolific natural gas producing areas in Texas and Louisiana (Permian Basin and Barnett, Haynesville and Eagle Ford shales) through the company’s Oasis Pipeline, its ETC Katy Pipeline, its RIGS pipeline, its natural gas pipeline and storage systems that are referred to as the ET Fuel System, and the company’s HPL System. In addition, the company operates EOIT in Oklahoma, delivering natural gas from various shale plays in the Anadarko and Arkoma Basins. The company also generates revenues and margin from the sale of natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users and marketing companies on the company’s HPL System. Generally, the company purchases natural gas from either the market (including purchases from the company’s marketing operations) or from producers at the wellhead. In addition, the company’s Intrastate Transportation and Storage segment generates revenues from fees charged for storing customers’ working natural gas in the company’s storage facilities and from managing natural gas for the company’s own account. The company also owns a 70% interest in Red Bluff Express Pipeline, which owns a pipeline in the Delaware Basin; and 16% membership interests in Comanche Trail Pipeline and Trans-Pecos Pipeline, both of which own pipelines delivering natural gas from the Waha Hub to the United States/Mexico border. Interstate Transportation and Storage Segment Natural gas transportation pipelines receive natural gas from supply sources, including other transportation pipelines, storage facilities and gathering systems and deliver the natural gas to industrial end-users and other pipelines. Through the company’s Interstate Transportation and Storage segment, the company directly owns and operates approximately 19,945 miles of interstate natural gas pipelines with approximately 20.1 Bcf/d of transportation capacity and another approximately 7,085 miles and 12.2 Bcf/d of transportation capacity through joint venture interests. The company’s vast interstate natural gas network spans the United States from Florida to California and Texas to Michigan, offering a comprehensive array of pipeline and storage services. The company’s pipelines have the capability to transport natural gas from nearly all Lower 48 onshore and offshore supply basins to customers in the Southeast, Gulf Coast, Southwest, the Midwest, Northeast and Canada. Through numerous interconnections with other pipelines, the company’s interstate systems can access virtually any supply or market in the country. The company’s interstate segment operations are regulated by the FERC, which has broad regulatory authority over the business and operations of interstate natural gas pipelines. Lake Charles LNG, the company’s wholly-owned subsidiary, owns an LNG import terminal and regasification facility located on Louisiana’s Gulf Coast near Lake Charles, Louisiana. The import terminal has approximately 9.0 Bcf of above ground storage capacity and the regasification facility has a send out capacity of 1.8 Bcf/d. Lake Charles LNG derives all of its revenue from a series of long-term contracts with a wholly-owned subsidiary of Royal Dutch Shell plc (‘Shell’). Lake Charles LNG Export, the company’s wholly-owned subsidiary, is developing a natural gas liquefaction project at the site of the company’s Lake Charles LNG import terminal and regasification facility. The project would utilize existing dock and storage facilities owned by Lake Charles LNG located on the Lake Charles site. Lake Charles LNG Export entered into a prior development agreement with Shell in March 2019, however, Shell withdrew from the project in March 2020 due to adverse market factors affecting Shell’s business following the onset of the COVID-19 pandemic. The project as designed is fully permitted by federal, state and local authorities, has all necessary export licenses and benefits from the infrastructure related to the existing regasification facility at the same site, including four LNG storage tanks, two deep water docks and other assets. Since the beginning of 2022, Lake Charles LNG Export has executed six LNG off-take agreements, for an aggregate of nearly 8 million tonnes per annum, including a 20-year LNG agreement with Shell NA LNG LLC. The company has also signed nonbinding letter agreements with two Japanese customers for LNG offtake, and the company is in active negotiations with several customers for long-term offtake contracts for significant volumes of LNG. The company is making progress on all aspects of the project. Upon completion of the LNG project, the company expects to realize significant incremental cash flows from transportation of natural gas on the company’s Trunkline pipeline system, and other Energy Transfer pipelines upstream from Lake Charles. The results from the company’s Interstate Transportation and Storage segment are primarily derived from the fees the company earns from natural gas transportation and storage services. Midstream Segment Through the company’s Midstream segment, the company owns and operates natural gas gathering and NGL pipelines, natural gas processing plants, natural gas treating facilities and natural gas conditioning facilities with an aggregate processing capacity of approximately 11.7 Bcf/d. The company’s Midstream segment focuses on the gathering, compression, treating, blending, and processing. The company’s operations are concentrated in major producing basins and shales in South Texas, West Texas, New Mexico, North Texas, East Texas, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas and Louisiana. Many of the company’s midstream assets are integrated with the company’s intrastate transportation and storage assets, as well as the company’s NGL assets. The company’s Midstream segment includes a 60% interest in Edwards Lime Gathering, LLC, which operates natural gas gathering, compression and treating facilities, and an oil pipeline and oil stabilization facility in South Texas; a 75% membership interest in ORS, which operates a natural gas gathering system in the Utica Shale in Ohio; a 50% membership interest in Mi Vida JV LLC, which operates a cryogenic processing plant in West Texas; and a 50% membership interest in Atoka Midstream LLC, which owns a natural gas gathering system in Oklahoma. The company’s Midstream segment results are derived primarily from margins the company earns for natural gas volumes that are gathered, transported, purchased and sold through the company’s pipeline systems and the natural gas and NGL volumes processed at the company’s processing and treating facilities. NGL and Refined Products Transportation and Services Segment The company’s NGL and refined products operations transport, store and execute acquisition and marketing activities utilizing a complementary network of pipelines, storage and blending facilities, and strategic off-take locations that provide access to multiple markets. The company’s NGL and refined products transportation and services segment includes: Approximately 5,650 miles of NGL pipelines; Nederland Terminal and connecting pipelines which provide transportation of ethane, propane, butane and natural gasoline from the company’s Mont Belvieu Facility to the company’s Nederland Terminal where these products can be exported; Marcus Hook Terminal, which includes fractionation, storage and exporting assets. This facility is connected to the company’s Mariner East Pipeline System, which provides for the transportation of ethane and LPG products from western Pennsylvania, West Virginia and eastern Ohio to the company’s Marcus Hook Terminal where these component products can be exported, processed or locally distributed; NGL fractionation facilities with an aggregate capacity of 975 MBbls/d; NGL storage facility in Mont Belvieu with a working storage capacity of approximately 58 MMBbls; and Other NGL storage assets, located at the company’s Cedar Bayou, Hattiesburg and Spindletop storage facilities, and the company’s Nederland, Marcus Hook and Inkster NGL terminals with an aggregate storage capacity of approximately 25 MMBbls. The NGL pipelines primarily transport NGLs from the Permian Basin and the Barnett and Eagle Ford Shales to Mont Belvieu, Texas, as well as NGLs from the Marcellus and Utica Shales to both the company’s Marcus Hook Terminal and to customer facilities in Marysville, Michigan and to delivery points on the Canadian border. NGL terminalling services are facilitated by approximately 10 MMBbls of NGL storage capacity. These operations also support the company’s liquids blending activities, including the use of the company’s patented butane blending technology. Refined products operations provide transportation and terminalling services through the use of approximately 3,670 miles of refined products pipelines and 37 active refined products marketing terminals. The company’s marketing terminals are located primarily in the northeast, midwest and southwest United States, with approximately 8 MMBbls of refined products storage capacity. The company’s refined products operations utilize its integrated pipeline and terminalling assets, as well as acquisition and marketing activities, to service refined products markets in several regions throughout the United States. The mix of products delivered through the company’s refined products pipelines varies seasonally, with gasoline demand peaking during the summer months, and demand for heating oil and other distillate fuels peaking in the winter. The products transported in these pipelines include multiple grades of gasoline and middle distillates, such as heating oil, diesel and jet fuel. Rates for shipments on these product pipelines are regulated by the FERC and other state regulatory agencies, as applicable. Revenues in this segment are principally generated from fees charged to customers under dedicated contracts or take-or-pay contracts. Under a dedicated contract, the customer agrees to deliver the total output from particular processing plants that are connected to the NGL pipeline. This segment also derives revenues from fee-based export activities, the marketing of NGLs and processing and fractionating refinery off-gas. Crude Oil Transportation and Services Segment The company’s crude oil operations provide transportation (via pipeline and trucking), terminalling and acquisition and marketing services to crude oil markets throughout the southwest, the Midwest and northeastern United States. Through the company’s Crude Oil Transportation and Services segment, the company owns and operates (through wholly-owned subsidiaries or joint venture interests) approximately 11,315 miles of crude oil trunk and gathering pipelines in the southwestern, northwestern and midwestern United States. This segment includes equity ownership interests in six crude oil pipeline systems, the Bakken Pipeline system, Bayou Bridge Pipeline, White Cliffs Pipeline, Maurepas Pipeline, the Permian Express pipelines and Enable South Central Pipeline. The company’s crude oil terminalling services operate with an aggregate storage capacity of approximately 66 MMBbls, including approximately 31 MMBbls at the company’s Gulf Coast terminal in Nederland, Texas, approximately 18.2 MMBbls at the company’s Gulf coast terminal on the Houston Ship Channel and approximately 7.6 MMBbls at the company’s Cushing facility in Cushing, Oklahoma. The company’s crude oil acquisition and marketing activities utilize the company’s pipeline and terminal assets, the company’s proprietary fleet crude oil tractor trailers and truck unloading facilities, as well as third-party assets, to service crude oil markets principally in the midcontinent United States. Revenues throughout the company’s crude oil pipeline systems are generated from tariffs paid by shippers utilizing the company’s transportation services. These tariffs are filed with the FERC and other state regulatory agencies, as applicable. The company’s crude oil acquisition and marketing activities include the gathering, purchasing, marketing and selling of crude oil. Specifically, the crude oil acquisition and marketing activities include: Purchasing crude oil at both the wellhead from producers, and in bulk from aggregators at major pipeline interconnections and trading locations; Storing inventory during contango market conditions (when the price of crude oil for future delivery is higher than current prices); Buying and selling crude oil of different grades at different locations in order to maximize value; Transporting crude oil using the company’s pipelines, terminals and trucks or, when necessary or cost effective, pipelines, terminals or trucks owned and operated by third parties; and Marketing crude oil to major integrated oil companies, independent refiners and resellers through various types of sale and exchange transactions. Investment in Sunoco LP Sunoco LP is engaged in the distribution of motor fuels to independent dealers, distributors, and other commercial customers; and the distribution of motor fuels to end-user customers at retail sites operated by commission agents. Additionally, it receives rental income through the leasing or subleasing of real estate used in the retail distribution of motor fuel. Sunoco LP also operates retail stores located in Hawaii and New Jersey. Sunoco LP is a distributor of motor fuels and other petroleum products which Sunoco LP supplies to third-party dealers and distributors, to independent operators of commission agent locations and other commercial consumers of motor fuel. Also included in the wholesale operations are transmix processing plants and refined products terminals. Transmix is the mixture of various refined products (primarily gasoline and diesel) created in the supply chain (primarily in pipelines and terminals) when various products interface with each other. Transmix processing plants separate this mixture and return it to salable products of gasoline and diesel. Sunoco LP is the exclusive wholesale supplier of the Sunoco-branded and EcoMaxx-branded motor fuels, supplying an extensive distribution network of Sunoco-branded company and third-party operated locations throughout the East Coast, the Midwest, South Central and Southeast regions of the United States and Puerto Rico. In addition to distributing motor fuels, Sunoco LP distributes other petroleum products, such as propane and lubricating oil. Sunoco LP receives rental income from real estate that it leases or subleases. Sunoco LP operations primarily consist of fuel distribution and marketing. Investment in USAC USAC provides natural gas compression services throughout the United States, including the Utica, Marcellus, Permian Basin, Eagle Ford, Mississippi Lime, Granite Wash, Woodford, Barnett, Haynesville, Niobrara and Fayetteville shales. USAC provides compression services to its customers primarily in connection with infrastructure applications, including both allowing for the processing and transportation of natural gas through the domestic pipeline system and enhancing crude oil production through artificial lift processes. As such, USAC’s compression services play a critical role in the production, processing and transportation of both natural gas and crude oil. As of December 31, 2022, USAC had 3.7 million horsepower in its fleet. USAC operates a modern fleet of compression units, with an average age of approximately 11 years. USAC’s standard new-build compression units are generally configured for multiple compression stages allowing USAC to operate its units across a broad range of operating conditions. As part of USAC’s services, it engineers, designs, operates, services and repairs its compression units and maintains related support inventory and equipment. USAC provides compression services to its customers under fixed-fee contracts with initial contract terms typically between six months to five years, depending on the application and location of the compression unit. USAC typically continues to provide compression services at a specific location beyond the initial contract term, either through contract renewal or on a month-to-month or longer basis. USAC’s assets and operations are all located and conducted in the United States. All Other Segment The company’s ‘All Other’ segment includes the following: The company’s gas marketing activities, which optimize basis pricing differentials by purchasing natural gas, transporting, primarily on company owned pipelines, and selling that gas primarily to industrial end-users or to other marketers. The company’s commodity marketing company, which focuses primarily on wholesale power trading activities. The company’s natural gas compression equipment business, which has operations in Arkansas, California, Colorado, Louisiana, New Mexico, Oklahoma, Pennsylvania, and Texas. The company’s wholly-owned subsidiary, Dual Drive Technologies, Ltd., which provides compression services to customers engaged in the transportation of natural gas, including the company’s other segments. The company’s subsidiaries are involved in the management of coal and natural resources properties and the related collection of royalties. The company also earns revenues from other land management activities, such as selling standing timber, leasing coal-related infrastructure facilities, and collecting oil and gas royalties. These operations also include end-user coal handling facilities. In August 2022, the company completed the sale of its 51% ownership interest in Energy Transfer Canada, which owns processing and gathering facilities in Alberta, Canada. Intrastate Transportation and Storage The following information describes the company’s principal intrastate transportation and storage assets: The ET Fuel System serves some of the most prolific production areas in the United States and is consisted of intrastate natural gas pipelines and related natural gas storage facilities. The ET Fuel System has many interconnections with pipelines providing direct access to power plants, other intrastate and interstate pipelines, and has bi-directional capabilities. It is strategically located near high-growth production areas and provides access to the three major natural gas trading centers in Texas: the Waha Hub near Pecos, Texas, the Maypearl Hub in Central Texas and the Carthage Hub in East Texas. The ET Fuel System also includes the company’s Bethel natural gas storage facility, with a working capacity of 6.0 Bcf, an average withdrawal capacity of 300 MMcf/d and an injection capacity of 75 MMcf/d, and the company’s Bryson natural gas storage facility, with a working capacity of 5.2 Bcf, an average withdrawal capacity of 120 MMcf/d and an average injection capacity of 96 MMcf/d. Storage capacity on the ET Fuel System is contracted to third parties under fee-based arrangements that extend through 2023. In addition, the ET Fuel System is integrated with the company’s Godley processing plant, which gives the company the ability to bypass the plant when processing margins are unfavorable by blending the untreated natural gas from its gas gathering system known as the North Texas System with natural gas on the ET Fuel System while continuing to meet pipeline quality specifications. The Oasis Pipeline is primarily a 36-inch natural gas pipeline. It has bi-directional capabilities with approximately 1.3 Bcf/d of throughput capacity moving west-to-east and greater than 750 MMcf/d of throughput capacity moving east-to-west. The Oasis pipeline connects to the Waha and Katy market hubs and has many interconnections with other pipelines, power plants, processing facilities, municipalities, and producers. The Oasis pipeline is integrated with the company’s gathering system known as the Southeast Texas System and is an important component to maximizing the company’s Southeast Texas System’s profitability. The Oasis pipeline enhances the Southeast Texas System by providing access for natural gas gathered on the Southeast Texas System to other third-party supply and market points and interconnecting pipelines; and allowing the company to bypass its processing plants and treating facilities on the Southeast Texas System when processing margins are unfavorable by blending untreated natural gas from the Southeast Texas System with gas on the Oasis pipeline while continuing to meet pipeline quality specifications. The HPL System is an extensive network of intrastate natural gas pipelines, an underground Bammel storage reservoir and related transportation assets. The system has access to multiple sources of historically significant natural gas supply reserves from South Texas, the Gulf Coast of Texas, East Texas and the western Gulf of Mexico, and is directly connected to major gas distribution, electric and industrial load centers in Houston, Corpus Christi, Texas City, Beaumont and other cities located along the Gulf Coast of Texas. The HPL System is well situated to gather and transport gas in many of the major gas producing areas in Texas, including a strong presence in the key Houston Ship Channel and Katy Hub markets, allowing the company to play an important role in the Texas natural gas markets. The HPL System also offers its shippers off-system opportunities due to its numerous interconnections with other pipeline systems, its direct access to multiple market hubs at Katy, the Houston Ship Channel, Carthage and Agua Dulce, as well as the company’s Bammel storage facility. The Bammel storage facility has a total working gas capacity of approximately 52.5 Bcf, a peak withdrawal rate of 1.3 Bcf/d and a peak injection rate of 0.6 Bcf/d. The Bammel storage facility is located near the Houston Ship Channel market area and the Katy Hub, and is ideally suited to provide a physical backup for on-system and off-system customers. As of December 31, 2022, the company had approximately 17.2 Bcf committed under fee-based arrangements with third parties and approximately 32.8 Bcf stored in the facility for the company’s own account. The ETC Katy Pipeline connects three treating facilities, one of which the company owns, with its gathering system known as Southeast Texas System. The ETC Katy pipeline serves producers in East and North Central Texas and provides access to the Katy Hub. The ETC Katy pipeline expansions include the 36-inch East Texas extension to connect the company’s Reed compressor station in Freestone County to the company’s Grimes County compressor station, the 36-inch Katy expansion connecting Grimes to the Katy Hub, and the 42-inch Southeast Bossier pipeline connecting the company’s Cleburne to Carthage pipeline to the HPL System. RIGS is a 450-mile intrastate pipeline that delivers natural gas from northwest Louisiana to downstream pipelines and markets. EOIT is a 2,200-mile pipeline system that provides natural gas transportation and storage services to customers in Oklahoma. EOIT is a web-like configuration with multidirectional flow capabilities between numerous receipt points and delivery points. EOIT delivers natural gas from the Anadarko and Arkoma Basins, including the SCOOP, STACK, Cana Woodford, Granite Wash, Cleveland, Tonkawa and Mississippi Lime Shale plays in western Oklahoma to utilities and industrial end users connected to EOIT and to interstate and intrastate pipelines interconnected with EOIT. EOIT also has two underground natural gas storage facilities in Oklahoma, which operate at a combined capacity of 24 Bcf with a peak withdrawal rate of 0.60 Bcf/d. Comanche Trail Pipeline is a 195-mile intrastate pipeline that delivers natural gas from the Waha Hub near Pecos, Texas to the United States/Mexico border near San Elizario, Texas. The Partnership owns a 16% membership interest in and operates Comanche Trail. Trans-Pecos Pipeline is a 143-mile intrastate pipeline that delivers natural gas from the Waha Hub near Pecos, Texas to the United States/Mexico border near Presidio, Texas. The Partnership owns a 16% membership interest in and operates Trans-Pecos. The Red Bluff Express Pipeline is an approximately 120-mile intrastate pipeline that runs through the heart of the Delaware Basin and connects the company’s Orla Plant, as well as third-party plants to the Waha Oasis Header. The Partnership owns a 70% membership interest in and operates Red Bluff Express. Interstate Transportation and Storage The following information describes the company’s principal interstate transportation and storage assets: FGT extends from South Texas through the Gulf Coast region of the United States to south Florida. FGT is the principal transporter of natural gas to the Florida energy market, delivering approximately 60% of the natural gas consumed in the state. In addition, FGT’s numerous intrastate and interstate pipeline interconnections with major interstate and intrastate natural gas pipelines provide access to diverse natural gas supply sources. FGT’s customers include electric utilities, independent power producers, industrial end-users and local distribution companies. FGT is owned by Citrus, a 50/50 joint venture with Kinder Morgan, Inc. Transwestern Pipeline transports natural gas supply from the Permian Basin in West Texas and eastern New Mexico, the San Juan Basin in northwestern New Mexico and southern Colorado, and the Anadarko Basin in the Texas and Oklahoma panhandles. The system has bi-directional capabilities and can access Texas and Midcontinent natural gas market hubs, as well as major western markets in Arizona, Nevada, and California. Transwestern’s customers include local distribution companies, producers, marketers, electric power generators, and industrial end-users. Panhandle Eastern Pipe Line’s transmission system consists of four large diameter mainline pipelines with bi-directional capabilities, extending approximately 1,300 miles from producing areas in the Anadarko Basin of Texas, Oklahoma and Kansas through Missouri, Illinois, Indiana, Ohio and into Michigan. Panhandle contracts for over 73 Bcf of natural gas storage. Trunkline’s transmission system consists of one large diameter mainline pipeline with bi-directional capabilities, extending approximately 1,400 miles from the Gulf Coast areas of Texas and Louisiana through Arkansas, Mississippi, Tennessee, Kentucky, Illinois, Indiana, and Michigan. Trunkline has one natural gas storage field located in Louisiana. Tiger is a bi-directional system that extends through the heart of the Haynesville Shale and ends near Delhi, Louisiana, interconnecting with multiple interstate pipelines. Fayetteville Express Pipeline originates near Conway County, Arkansas and continues eastward to Panola County, Mississippi with multiple pipeline interconnections along the route. Fayetteville Express Pipeline is owned by a 50/50 joint venture with Kinder Morgan, Inc. Sea Robin Pipeline’s system consists of two offshore Louisiana natural gas supply pipelines extending 120 miles into the Gulf of Mexico. Stingray Pipeline is an interstate natural gas pipeline system with assets located in the western Gulf of Mexico and Johnson Bayou, Louisiana. Rover Pipeline is a large diameter pipeline, which transports natural gas from processing plants in West Virginia, Eastern Ohio, and Western Pennsylvania for delivery to other pipeline interconnects in Ohio and Michigan, where the gas is delivered for distribution to markets across the United States, as well as to Ontario, Canada. Midcontinent Express Pipeline originates near Bennington, Oklahoma and traverses northern Louisiana and central Mississippi to an interconnect with the Transcontinental Gas Pipeline system in Butler, Alabama. The Midcontinent Express Pipeline is owned by a 50/50 joint venture with Kinder Morgan, Inc., the operator of the system. EGT provides natural gas transportation and storage services to customers in Oklahoma, Texas, Arkansas, Louisiana, Missouri, and Kansas. EGT has two underground storage facilities in Oklahoma and one underground natural gas storage facility in Louisiana. Through numerous pipeline interconnections along the system and at the Perryville Hub, EGT customers have access to the Midwest and Northeast markets, as well as most of the major natural gas consuming markets east of the Mississippi River. MRT provides natural gas transportation and storage services in Texas, Arkansas, Louisiana, Missouri and Illinois. MRT has underground natural gas storage facilities in Louisiana and Illinois. MRT receives natural gas from a variety of interstate and intrastate pipelines through its interconnections and delivers natural gas primarily to the St. Louis market. SESH, a 50/50 joint venture with Enbridge Inc., provides transportation services in Louisiana, Mississippi, and Alabama. SESH transports natural gas from the Perryville Hub in Louisiana to its endpoint in Mobile County, Alabama. SESH has interconnections with third party natural gas pipelines and provides access to major Southeast and Northeast markets and transports directly to generating facilities in Mississippi and Alabama and to interconnecting pipelines that supply companies generating electricity for the Florida power market. Gulf Run Pipeline, placed in service in December 2022, is a large diameter pipeline that runs from the heart of the Haynesville Shale in East Texas and North Louisiana to the Carthage and Perryville natural gas hubs and other key markets along the Gulf Coast. Regasification Facility Lake Charles LNG, the company’s wholly-owned subsidiary, owns an LNG import terminal and regasification facility located on Louisiana’s Gulf Coast near Lake Charles, Louisiana. The import terminal has approximately 9.0 Bcf of above ground LNG storage capacity and the regasification facility has a send out capacity of 1.8 Bcf/d. Liquefaction Project Lake Charles LNG Export, the company’s wholly-owned subsidiary, is developing a natural gas liquefaction project at the site of the company’s Lake Charles LNG import terminal and regasification facility. The project would utilize existing dock and storage facilities owned by Lake Charles LNG located on the Lake Charles site. Lake Charles LNG Export entered into a prior development agreement with Shell in March 2019; however, Shell withdrew from the project in March 2020 due to adverse market factors affecting Shell’s business following the onset of the COVID-19 pandemic. The project as designed is fully permitted by federal, state and local authorities, has all necessary export licenses and benefits from the infrastructure related to the existing regasification facility at the same site, including four LNG storage tanks, two deep water docks and other assets. Since the beginning of 2022, Lake Charles LNG Export has executed six LNG off-take agreements, for an aggregate of nearly 8 million tonnes per annum, including a 20-year LNG agreement with Shell NA LNG LLC. The company has also signed nonbinding letter agreements with two Japanese customers for LNG offtake, and the company is in active negotiations with several customers for long-term offtake contracts for significant volumes of LNG. The company is making progress on all aspects of the project. Upon completion of the LNG project, the company expects to realize significant incremental cash flows from transportation of natural gas on the company’s Trunkline pipeline system, and other Energy Transfer pipelines upstream from Lake Charles. The export of LNG produced by the liquefaction project from the United States would be undertaken under long-term export authorizations issued by the DOE to Lake Charles LNG Export. In March 2013, Lake Charles LNG Export obtained a DOE authorization to export LNG to countries with which the United States has or will have Free Trade Agreements (‘FTA’) for trade in natural gas (the ‘FTA Authorization’). In July 2016, Lake Charles LNG Export also obtained a conditional DOE authorization to export LNG to countries that do not have an FTA for trade in natural gas (the ‘Non-FTA Authorization’). In October 2020, the DOE extended the FTA Authorization and Non-FTA Authorization to 30- and 25-year terms, respectively, following first deliveries on or before December 2025, consistent with the FERC authorization for the project. The FTA Authorization and Non-FTA Authorization have 25- and 20-year terms, respectively, commencing with the completion of construction of the liquefaction facility. In addition, Lake Charles LNG Export received its wetlands permits from the USACE to perform wetlands mitigation work and to perform modification and dredging work for the temporary and permanent dock facilities at the Lake Charles LNG facilities. Midstream The following information describes the company’s principal midstream assets: South Texas Region: The company’s South Texas assets, which include the Southeast Texas System and the Eagle Ford System, are an integrated system that gathers, compresses, treats, processes, dehydrates and transports natural gas from the Austin Chalk trend and the Eagle Ford Shale. The assets in the company’s Southeast Texas System include a large natural gas gathering system that covers thirteen counties between Austin and Houston, Texas and connects to the Katy Hub through the ETC Katy Pipeline and is also connected to the Oasis Pipeline. This system also includes three natural gas processing plants (La Grange, Alamo and Brookeland) with an aggregate capacity of 510 MMcf/d. These plants process the rich gas that flows through the company’s gathering system to produce residue gas and NGLs. Residue gas is delivered into the company’s intrastate pipelines and NGLs are delivered into the company’s NGL pipelines. The company’s treating facilities remove carbon dioxide and hydrogen sulfide from natural gas gathered into the company’s system before the natural gas is introduced to transportation pipelines to ensure that the gas meets pipeline quality specifications. The assets in the company’s Eagle Ford System consist of 30-inch and 42-inch natural gas gathering pipelines originating in Dimmitt County, Texas, and extending to both the company’s King Ranch gas plant in Kleberg County, Texas and Jackson plant in Jackson County, Texas. These assets also include four processing plants (Chisholm, Kenedy, Jackson and King Ranch) with an aggregate capacity of 1.9 Bcf/d. The company’s Chisholm, Kenedy, Jackson and King Ranch processing plants are connected to the company’s intrastate transportation pipeline systems for deliveries of residue gas and are also connected with the company’s NGL pipelines. The company owns a 60% interest in Edward Lime Gathering, LLC, which operates natural gas gathering, compression and treating facilities, and an oil pipeline and oil stabilization facility in South Texas. Ark-La-Tex Region: The company’s Ark-La-Tex assets are consisted of several gathering systems in the Haynesville Shale with access to multiple markets through interconnects with several pipelines, including the company’s Tiger pipeline. The company’s Northern Louisiana assets include the Bistineau, Creedence, Tristate, Logansport, Magnolia, Olympia, Amoruso, and Lumberjack systems, which collectively include eleven natural gas treating facilities, with aggregate capacity of 3.0 Bcf/d. The Ark-La-Tex assets gather, compress, treat and dehydrate natural gas in several parishes in north and west Louisiana and several counties in East Texas. These assets also include cryogenic natural gas processing facilities, a refrigeration plant, a conditioning plant, amine treating plants, a residue gas pipeline that provides market access for natural gas from the company’s processing plants, including connections with pipelines that provide access to the Perryville Hub and other markets in the Gulf Coast region, and an NGL pipeline that connects to a third party that provides access to the Mont Belvieu market for NGLs produced from the company’s processing plants. Collectively, the fourteen natural gas processing facilities (Dubach, Dubberly, Lisbon, Salem, Elm Grove, Minden, Ada, Lincoln, Rosewood, Mt. Olive, Panola, Sligo and Waskom) have an aggregate capacity of 2.0 Bcf/d. Through the gathering and processing systems described above and their interconnections with RIGS in north Louisiana, as well as other pipelines, the company offers producers wellhead-to-market services, including natural gas gathering, compression, processing, treating and transportation. North Central Texas Region: The North Central Texas System is an integrated system located in four counties in North Central Texas that gathers, compresses, treats, processes and transports natural gas from the Barnett and Woodford Shales. The company’s North Central Texas assets include the company’s Godley plant, which processes rich gas produced from the Barnett Shale and STACK play, with an aggregate capacity of 700 MMcf/d. The Godley plant is integrated with the ET Fuel System. Permian Region: The Permian Basin Gathering System offers wellhead-to-market services to producers in eleven counties in West Texas, as well as two counties in New Mexico which surround the Waha Hub, one of Texas’s developing NGL-rich natural gas market areas. As a result of the proximity of the company’s system to the Waha Hub, the Waha Gathering System has a variety of market outlets for the natural gas that the company gathers and processes, including several major interstate and intrastate pipelines serving California, the midcontinent region of the United States and Texas natural gas markets. The NGL market outlets includes the company’s NGL pipeline system. The Permian Basin Gathering System includes twelve processing facilities (Waha, Coyanosa, Red Bluff, Halley, Jal, Keystone, Tippet, Orla, Panther, Rebel, Grey Wolf and Arrowhead) with an aggregate processing capacity of 2.6 Bcf/d and one natural gas conditioning facility with an aggregate capacity of 200 MMcf/d. The company owns a 50% membership interest in Mi Vida JV LLC, a joint venture which owns a 200 MMcf/d cryogenic processing plant in West Texas. The company operates the plant and related facilities on behalf of the joint venture. The Partnership previously owned a 50% membership interest in Ranch Westex JV LLC, which was sold in 2022. Midcontinent Region: The Midcontinent Systems are located in three large natural gas producing regions in the United States: the Hugoton Basin in southwest Kansas, the Anadarko Basin in the Texas Panhandle and Oklahoma, including the STACK and SCOOP plays, and the Arkoma Basin in Eastern Oklahoma and Arkansas. These mature basins have continued to provide generally long-lived, predictable production volumes. The company’s Midcontinent assets are extensive systems that gather, compress and dehydrate low-pressure gas. The Midcontinent Systems include 24 natural gas processing facilities (Mocane, Beaver, Antelope Hills, Woodall, Wheeler, Sunray, Hemphill, Hamlin, Spearman, Crescent, Rose Valley, Hopeton, Bradley, Bradley II, McClure, Wheeler, South Canadian, Clinton, Roger Mills, Canute, Cox City, Thomas, Calumet and Wetumka) with an aggregate capacity of approximately 3.1 Bcf/d. The company operates its Midcontinent Systems at low pressures to maximize the total throughput volumes from the connected wells. Wellhead pressures are therefore adequate to allow for flow of natural gas into the gathering lines without the cost of wellhead compression. The company owns the Hugoton Gathering System that has 1,900 miles of pipeline extending over nine counties in Kansas and Oklahoma. This system is operated by a third party. The company owns a 50% membership interest in Atoka Midstream LLC, which owns a natural gas gathering system in Oklahoma. In September 2022, the company acquired Woodford Express, LLC, which has cryogenic gas processing and treatment capacity of 450 MMcf/d and over 200 miles of gathering lines that are connected to Energy Transfer’s pipeline network. Eastern Region: The Eastern Region assets are located in eleven counties in Pennsylvania, four counties in Ohio, three counties in West Virginia, and gather natural gas from the Marcellus and Utica Shales. The company’s Eastern Region assets include approximately 600 miles of natural gas gathering pipelines, natural gas trunklines, fresh-water pipelines, and nine gathering and processing systems, as well as the 200 MMcf/d Revolution processing plant, which feeds into the company’s Mariner East and Rover pipeline systems. The company also owns a 51% membership interest in Aqua – ETC Water Solutions LLC, a joint venture that transports and supplies fresh water to natural gas producers drilling in the Marcellus Shale in Pennsylvania. The company owns a 75% membership interest in ORS. On behalf of ORS, the company operates its Ohio Utica River System, which consists of 47 miles of 36-inch, 13 miles of 30-inch and 3 miles of 24-inch gathering trunklines, and which delivers up to 3.6 Bcf/d to Rockies Express Pipeline, Texas Eastern Transmission, Leach Xpress, Rover and DEO TPL-18. NGL and Refined Products Transportation and Services The following information describes the company’s principal NGL and refined products transportation and services assets: Gulf Coast NGL Express is an interstate NGL pipeline consisting of 24-inch and 30-inch long-haul transportation pipelines, with throughput capacity of approximately 900 MBbls/d, that delivers mixed NGLs from processing plants in the Permian Basin, the Barnett Shale, and from East Texas to the Mont Belvieu NGL storage facility. West Texas Gateway transports mixed NGLs produced in the Permian Basin and the Eagle Ford Shale to Mont Belvieu, Texas and has a throughput capacity of approximately 240 MBbls/d. The Mariner East Pipeline System, consisting of Mariner East 2 and Mariner East 2x, has an aggregate capacity of 350 to 375 MBbls/d and transports NGLs from the Marcellus and Utica Shales in Western Pennsylvania, West Virginia and Eastern Ohio to destinations in Pennsylvania, including the company’s Marcus Hook Terminal on the Delaware River, where they are processed, stored and distributed to local, domestic and waterborne markets. The Mont Belvieu to Nederland Pipeline System consists of three pipelines and delivers export-grade propane, butane and natural gasoline from the company’s Mont Belvieu, Texas storage and fractionation complex to the company’s marine terminal in Nederland, Texas and has a total throughput capacity of approximately 530 MBbls/d. In addition, it includes an export-grade ethane pipeline utilized for the company’s Orbit Gulf Coast joint venture as described below. The Mariner West pipeline provides transportation of ethane from the Marcellus Shale processing and fractionating areas in Houston, Pennsylvania to Marysville, Michigan and the Canadian border and has a throughput capacity of approximately 50 MBbls/d. The White Cliffs NGL pipeline, in which the company has 51% ownership interest, transports mixed NGLs produced in the DJ Basin to Cushing, Oklahoma where it interconnects with the Southern Hills Pipeline to move NGLs to Mont Belvieu, Texas and has a throughput capacity of approximately 90 MBbls/d. Other NGL pipelines include the 127-mile Justice pipeline, the 45-mile Freedom pipeline, the 20-mile Spirit pipeline and a 50% interest in the 87 mile Liberty pipeline. The company’s Mont Belvieu storage facility is an integrated liquids storage facility with approximately 58 MMBbls of salt dome capacity providing 100% fee-based cash flows. The Mont Belvieu storage facility has access to multiple NGL and refined products pipelines, the Houston Ship Channel trading hub, and numerous chemical plants, refineries and fractionators. The company has an additional 8 MMBbls of salt dome capacity at its Spindletop facility which the company acquired in March 2022, and is located in Beaumont, Texas. The company’s Mont Belvieu fractionators handle NGLs delivered from several sources, including the Gulf Coast NGL Express, West Texas Gateway and Justice pipelines. ET Geismar Olefins consists of a refinery off-gas processing unit and an O-grade NGL fractionation / Refinery-Grade Propylene (‘RGP’) splitting complex located along the Mississippi River refinery corridor in southern Louisiana. The off-gas processing unit cryogenically processes refinery off-gas, and the fractionation / RGP splitting complex fractionates the streams into higher value components. The O-grade fractionator and RGP splitting complex, located in Geismar, Louisiana, is connected by approximately 100 miles of pipeline to the Chalmette processing plant, which has a processing capacity of 54 MMcf/d. The Hattiesburg storage facility is an integrated liquids storage facility with approximately 5 MMBbls of salt dome capacity, providing 100% fee-based cash flows. The Cedar Bayou storage facility is an integrated liquids storage facility with approximately 1.6 MMBbls of tank storage, generating revenues from fixed fee storage contracts, throughput fees, and revenue from blending butane into refined gasoline. The Nederland Terminal, in addition to crude oil activities, also provides approximately 1.9 MMBbls of storage and distribution services for NGLs in connection with the Mont Belvieu to Nederland Pipeline System, which provides transportation of propane, butane and natural gasoline products from the company’s Mont Belvieu, Texas storage and fractionation complex to the Nederland Terminal, where such products can be exported via ship. The Orbit Gulf Coast joint venture consists of a 70-mile, 20-inch ethane pipeline with a throughput capacity of approximately 200 MBbls/d, delivering from the company’s Mont Belvieu, Texas storage and fractionation complex to the company’s marine terminal in Nederland, Texas, as well as a 180 MBbls/d ethane refrigeration facility and 1.2 MMBbls of storage capacity. The Marcus Hook Terminal includes fractionation, terminalling and storage assets, with a capacity of approximately 2 MMBbls of NGL storage capacity in underground caverns, 4 MMBbls of above-ground NGL refrigerated storage, and related commercial agreements. The terminal has a total active refined products storage capacity of approximately 1 MMBbls. The facility can receive NGLs and refined products via marine vessel, pipeline, truck and rail, and can deliver via marine vessel, pipeline and truck. In addition to providing NGL storage and terminalling services to both affiliates and third-party customers, the Marcus Hook Terminal serves as an off-take outlet for the company’s Mariner East Pipeline System. The Marcus Hook Terminal also has a tank farm with total refined products storage capacity of approximately 2 MMBbls. The terminal receives and delivers refined products via pipeline and primarily provides terminalling services to support movements on the company’s refined products pipelines. The Inkster terminal, located near Detroit, Michigan, consists of multiple salt caverns with a total storage capacity of approximately 860 MBbls of NGLs. The company use the Inkster terminal’s storage in connection with the Toledo North pipeline system and for the storage of NGLs from local producers and a refinery in Western Ohio. The terminal can receive and ship by pipeline in both directions and has a truck loading and unloading rack. The Eastern region refined products pipelines consist of 6-inch to 16-inch diameter refined product pipelines in eastern, central and north central Pennsylvania, 8-inch refined products pipeline in western New York and various diameter refined products pipelines in New Jersey (including 80 miles of the 16-inch diameter Harbor Pipeline). The midcontinent region refined products pipelines primarily consist of 3-inch to 12-inch refined products pipelines in Ohio and 6-inch and 8-inch refined products pipeline in Michigan. The Southwest region refined products pipelines are located in East Texas and consist primarily of 8-inch and 12-inch diameter refined products pipeline. The Inland refined products pipeline consists of 12-, 10-, 8- and 6-inch diameter pipelines in the western, northwestern, and northeastern regions of Ohio. The JC Nolan Pipeline, a joint venture between a wholly-owned subsidiary of the Partnership and a wholly-owned subsidiary of Sunoco LP, transports diesel fuel from a tank farm in Hebert, Texas to Midland, Texas, and has a throughput capacity of approximately 36 MBbls/d. The company has 37 refined products terminals with an aggregate storage capacity of approximately 8 MMBbls that facilitate the movement of refined products to or from storage or transportation systems, such as a pipeline, to other transportation systems, such as trucks or other pipelines. Each facility typically consists of multiple storage tanks and is equipped with automated truck loading equipment that is operational 24 hours a day. In addition to crude oil service, the Eagle Point terminal can accommodate three marine vessels (ships or barges) to receive and deliver refined products to outbound ships and barges. The tank farm has a total active refined products storage capacity of approximately 7 MMBbls and provides customers with access to the facility via ship, barge and pipeline. The terminal can deliver via ship, barge, truck or pipeline, providing customers with access to various markets. The terminal generates revenue primarily by charging fees based on throughput, blending services and storage. The JC Nolan Terminal, a joint venture between a wholly-owned subsidiary of the Partnership and a wholly-owned subsidiary of Sunoco LP, provides diesel fuel storage in Midland, Texas. This segment also includes the following joint ventures: a 15% membership interest in Explorer, a 1,850-mile pipeline which originates from refining centers in Beaumont, Port Arthur and Houston, Texas and extends to Chicago, Illinois; a 31% membership interest in the Wolverine Pipe Line Company, a 1,055-mile pipeline that originates from Chicago, Illinois and extends to Detroit, Grand Haven, and Bay City, Michigan; a 17% membership interest in the West Shore Pipe Line Company, a 650-mile pipeline which originates in Chicago, Illinois and extends to Madison and Green Bay, Wisconsin; a 14% membership interest in the Yellowstone Pipe Line Company, a 710-mile pipeline which originates from Billings, Montana and extends to Moses Lake, Washington. Crude Oil Transportation and Services The company’s crude oil operations consist of an integrated set of pipeline, terminalling, trucking and acquisition and marketing assets that service the movement of crude oil from producers to end-user markets. The following details the company’s assets in the crude oil transportation and services segment: Crude Oil Pipelines The company’s crude oil pipelines consist of approximately 11,315 miles of crude oil trunk and gathering pipelines in the southwest, northwest and midwest United States, including the company’s wholly-owned interests in West Texas Gulf, Permian Express Terminal LLC, Mid-Valley and Wattenberg Oil Trunkline. Additionally, the company has equity ownership interests in six crude oil pipelines. The company’s crude oil pipelines provide access to several trading hubs, including the largest trading hub for crude oil in the United States located in Cushing, Oklahoma, and other trading hubs located in Midland, Colorado City and Longview, Texas. The company’s crude oil pipelines also deliver to and connect with other pipelines that deliver crude oil to a number of refineries. Bakken Pipeline: The Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline are collectively referred to as the ‘Bakken Pipeline.’ The Bakken Pipeline is a 1,915-mile pipeline that transports domestically produced crude oil from the Bakken/Three Forks production areas in North Dakota to a storage and terminal hub outside of Patoka, Illinois, or to gulf coast connections, including the company’s crude terminal in Nederland, Texas. The Bakken Pipeline has a capacity of up to 750 MBbls/d. The pipeline transports light, sweet crude oil from North Dakota to major refining markets in the Midwest and Gulf Coast regions. The Dakota Access Pipeline consists of approximately 1,170 miles of 12, 20, 24 and 30-inch diameter pipeline traversing North Dakota, South Dakota, Iowa and Illinois. Crude oil transported on the Dakota Access Pipeline originates at six terminal locations in the North Dakota counties of Mountrail, Williams and McKenzie. The pipeline delivers the crude oil to a hub outside of Patoka, Illinois where it can be delivered to the Energy Transfer Crude Oil Pipeline for delivery to the Gulf Coast or can be transported via other pipelines to refining markets throughout the Midwest. The Energy Transfer Crude Oil Pipeline consists of approximately 675 miles of mostly 30-inch converted natural gas pipeline and 70 miles of new 30-inch pipeline from Patoka, Illinois to Nederland, Texas, where the crude oil can be refined or further transported to additional refining markets. Bayou Bridge Pipeline. The Bayou Bridge Pipeline is a joint venture between Energy Transfer and a subsidiary of Phillips 66, in which the company has a 60% ownership interest and serves as the operator of the pipeline. Phase I of the pipeline is a 30-inch pipeline from Nederland, Texas to Lake Charles, Louisiana, and Phase II of the pipeline, is a 24-inch pipe from Lake Charles, Louisiana to St. James, Louisiana. Bayou Bridge Pipeline has a capacity of approximately 480 MBbls/d of light and heavy crude oil from different sources to the St. James crude oil hub, which is home to important refineries located in the Gulf Coast region. Permian Express Pipelines: The Permian Express pipelines are part of the PEP joint venture and include the Permian Express 1, Permian Express 2, Permian Express 3, Permian Express 4, Permian Longview, Louisiana Access, Longview to Louisiana and Nederland Access pipelines. These pipelines are consisted of crude oil trunk pipelines and crude oil gathering pipelines in Texas and Oklahoma and provide takeaway capacity from the Permian Basin, with origins in multiple locations in West Texas. White Cliffs Crude Pipeline: White Cliffs Pipeline owns a 12-inch common carrier, crude oil pipeline, with a throughput capacity of 100 MBbls/d, that transports crude oil from Platteville, Colorado to Cushing, Oklahoma. Maurepas Pipeline: The Maurepas Pipeline consists of three pipelines, with an aggregate throughput capacity of 460 MBbls/d, which service refineries in the Gulf Coast region. Other Crude Oil pipelines include the Mid-Valley pipeline system which originates in Longview, Texas and passes through Louisiana, Arkansas, Mississippi, Tennessee, Kentucky and Ohio and terminates in Samaria, Michigan. This pipeline provides crude oil to a number of refineries, primarily in the Midwest United States. In addition, the company owns a crude oil pipeline that runs from Marysville, Michigan to Toledo, Ohio, and a truck injection point for local production at Marysville. This pipeline receives crude oil from the Enbridge pipeline system for delivery to refineries located in Toledo, Ohio and to MPLX’s Samaria, Michigan tank farm, which supplies Marathon Petroleum Corporation’s refinery in Detroit, Michigan. The company also owns and operates crude oil pipeline and gathering systems in Oklahoma and Kansas. The company has the ability to deliver substantially all of the crude oil gathered on the company’s Oklahoma and Kansas systems to Cushing, Oklahoma. The company is one of the largest purchasers of crude oil from producers in the area and the company’s crude oil acquisition and marketing activities business is the primary shipper on the company’s Oklahoma crude oil system. The company also owns crude oil and condensate gathering assets in the Anadarko Basin and the Williston Basin. The Anadarko Basin assets were designed and built to serve the crude oil and condensate production in the SCOOP and STACK plays. A portion of these operations are conducted through Enable South Central Pipeline, a joint venture with a subsidiary of CVR Energy, Inc., which is operated by the company and in which the company owns a 60% membership interest. The Williston Basin crude oil and produced water gathering assets were designed and built to receive crude oil on pipelines near the company’s customers’ wells for delivery to third-party transportation pipelines, and produced water gathering pipelines for delivery to third-party disposal wells. Crude Oil Terminals Nederland: The Nederland Terminal, located on the Sabine-Neches waterway between Beaumont and Port Arthur, Texas, is a large marine terminal providing storage and distribution services for refiners and other large transporters of crude oil and NGLs. The terminal receives, stores, and distributes crude oil, NGLs, feedstocks, petrochemicals and bunker oils (used for fueling ships and other marine vessels). The terminal has a total storage capacity of approximately 31 MMBbls in approximately 150 above ground storage tanks with individual capacities of up to 660 MBbls. The Nederland Terminal can receive crude oil at three of its six ship docks and three of its four barge berths. The three ship docks are capable of receiving over 2 MMBbls/d of crude oil. In addition to the company’s crude oil pipelines, the terminal can also receive crude oil through a number of other pipelines, including the DOE. The DOE pipelines connect the terminal to the United States Strategic Petroleum Reserve’s West Hackberry caverns at Hackberry, Louisiana and Big Hill caverns near Winnie, Texas, which have an aggregate storage capacity of approximately 395 MMBbls. The terminal also has crude oil rail unloading facilities, including steam availability for heating heavy oils prior to loading. The Nederland Terminal can deliver crude oil and other petroleum products via pipeline, barge and ship. The terminal has three ship docks and three barge berths that are capable of delivering crude oils for international transport. In total, the terminal is capable of delivering over 2 MMBbls/d of crude oil to the company’s crude oil pipelines or a number of third-party pipelines, including the DOE. The Nederland Terminal generates crude oil revenues primarily by providing term or spot storage services and throughput capabilities to a number of customers. Fort Mifflin: The Fort Mifflin terminal complex is located on the Delaware River in Philadelphia, Pennsylvania and includes the Fort Mifflin terminal, the Hog Island wharf, the Darby Creek tank farm and connecting pipelines. The Fort Mifflin terminal contains two ship docks with freshwater drafts and a total storage capacity of approximately 570 MBbls. Crude oil and some refined products enter the Fort Mifflin terminal primarily from marine vessels on the Delaware River. The Hog Island wharf is located next to the Fort Mifflin terminal on the Delaware River and receives crude oil via two ship docks. The Darby Creek tank farm is a primary crude oil storage terminal that receives crude oil from the Fort Mifflin terminal and Hog Island wharf via the company’s pipelines and has a total storage capacity of approximately 2.7 MMBbls. Eagle Point: The Eagle Point terminal is located in Westville, New Jersey and consists of docks, truck loading facilities and a tank farm. The docks are located on the Delaware River and can accommodate three marine vessels (ships or barges) to receive and deliver crude oil, intermediate products and refined products to outbound ships and barges. The tank farm has a total active storage capacity of approximately 1.8 MMBbls and can receive crude oil via barge and rail and deliver via ship and barge, providing customers with access to various markets. The terminal generates revenue primarily by charging fees based on throughput, blending services and storage. Midland: The Midland terminal is located in Midland, Texas and includes approximately 1 MMBbls of crude oil storage, a combined 20 lanes of truck loading and unloading, and provides access to the Permian Express 2 pipeline. Marcus Hook: The Marcus Hook Terminal can receive crude oil via marine vessel and can deliver via marine vessel and pipeline. The terminal has a total active crude oil storage capacity of approximately 1 MMBbls. Patoka, Illinois: The Patoka, Illinois terminal is a tank farm owned by the PEP joint venture and is located in Marion County, Illinois. The facility includes 234 acres of owned land and provides for approximately 1.9 MMBbls of crude oil storage. Houston: The Houston Terminal consists of storage tanks located on the Houston Ship Channel with an aggregate storage capacity of 18.2 MMBbls used to store, blend and transport refinery products and refinery feedstocks via pipeline, barge, rail, truck and ship. This facility has five deep-water ship docks on the Houston Ship Channel capable of loading and unloading Suezmax cargo vessels and seven barge docks, which can accommodate 23 barges simultaneously, three crude oil pipelines connecting to four refineries and numerous rail and truck loading spots. Cushing: The Cushing Terminal has approximately 7.6 MMBbls of crude oil storage, of which 5.6 MMBbls are leased to customers and 2.0 MMBbls are available for crude oil operations, blending and marketing activities. The storage terminal has inbound connections with the White Cliffs Pipeline from Platteville, Colorado, the Great Salt Plains Pipeline from Cherokee, Oklahoma, the Cimarron Pipeline from Boyer, Kansas, and two-way connections with all of the other major storage terminals in Cushing. The Cushing terminal also includes truck unloading facilities. Crude Oil Acquisition and Marketing The company’s crude oil acquisition and marketing operations are conducted using the company’s assets, which include approximately 363 crude oil transport trucks, 350 trailers and approximately 166 crude oil truck unloading facilities, as well as third-party truck, rail, pipeline and marine assets. Investment in Sunoco LP Sunoco LP’s fuel distribution and marketing operations are conducted by the following consolidated subsidiaries: Sunoco, LLC (‘Sunoco LLC’), a Delaware limited liability company, primarily distributes motor fuel in more than 40 states and territories throughout the East Coast, Midwest, South Central and Southeast regions of the United States. Sunoco LLC also processes transmix and distributes refined product through its terminals in Alabama, Arkansas, Florida, Indiana, Illinois, Maryland, New Jersey, New York, Texas and Virginia; Sunoco Retail LLC (‘Sunoco Retail’), a Pennsylvania limited liability company, owns and operates retail stores that sell motor fuel and merchandise primarily in New Jersey and distributes motor fuel in Puerto Rico. Sunoco Retail also leases owned sites to commissioned agents who sell motor fuels to the motoring public on Sunoco Retail’s behalf for a commission; Aloha Petroleum LLC, a Delaware limited liability company, distributes motor fuel and operates terminal facilities on the Hawaiian Islands; and Aloha Petroleum, Ltd. (‘Aloha’), a Hawaii corporation, owns and operates retail stores on the Hawaiian Islands and leases owned sites to commission agents who sell motor fuels on Aloha’s behalf for a commission. Sunoco LP purchases motor fuel primarily from independent refiners and major oil companies and distributes it throughout the East Coast, Midwest, South Central and Southeast regions of the United States, as well as Hawaii to 76 company owned and operated retail stores; 504 independently operated commission agent locations where Sunoco LP sells motor fuel to customers under commission agent arrangements with such operators; 6,897 retail stores operated by independent operators, which are referred to as ‘dealers’ or ‘distributors,’ pursuant to long-term distribution agreements; and approximately 1,800 other commercial customers, including unbranded retail stores, other fuel distributors, school districts and municipalities and other industrial customers. Sunoco LP’s operations also include retail operations in Hawaii and New Jersey, credit card services and franchise royalties. Investment in USAC The following details the assets of USAC: USAC’s modern, standardized compression unit fleet is powered primarily by the Caterpillar, Inc.’s 3400, 3500 and 3600 engine classes, which range from 401 to 5,000 horsepower per unit. These larger horsepower units, which USAC defines as 400 horsepower per unit or greater, represented 87.1% of its total fleet horsepower as of December 31, 2022. The remainder of its fleet consists of smaller horsepower units ranging from 40 horsepower to 399 horsepower that are primarily used in gas lift applications. All Other The following details the significant assets in the ‘All Other’ segment. Compression The company owns Dual Drive Technologies, Ltd, which provides compression services to customers engaged in the transportation of natural gas, including the company’s other segments. Natural Resources Operations The company’s Natural Resources operations primarily involve the management and leasing of coal properties and the subsequent collection of royalties. The company also earns revenues from other land management activities, such as selling standing timber, leasing fee-based coal-related infrastructure facilities to certain lessees and end-user industrial plants, collecting oil and gas royalties and from coal transportation, or wheelage fees. Canadian Operations In August 2022, the company completed the sale of the company’s 51% ownership interest in Energy Transfer Canada, which owns processing and gathering facilities in Alberta, Canada. Business Strategy The company’s business strategies include growth through acquisitions; engaging in construction and expansion opportunities; and enhancing profitability of existing assets. Customers The company’s natural gas transportation and midstream revenues are derived significantly from companies that engage in exploration and production activities. In addition to oil and gas producers, the company’s counterparties consist of a diverse portfolio of customers across the energy industry, including petrochemical companies, commercial and industrial end-users, municipalities, gas and electric utilities, midstream companies and independent power generators. Regulation FGT, Transwestern, Panhandle, Trunkline, Tiger, Fayetteville Express, Rover, Sea Robin, Midcontinent Express, EGT, MRT, SESH, Stingray and Southwest Gas transport natural gas in interstate commerce and thus each qualifies as a ‘natural-gas company’ under the NGA subject to the FERC’s regulatory jurisdiction. The company also holds certain natural gas storage facilities that are subject to the FERC’s regulatory oversight under the NGA. With regard to the company’s physical purchases and sales of natural gas, NGLs or other energy commodities; the company’s transportation of these energy commodities; and any related hedging activities that the company undertakes, the company is required to observe these anti-market manipulation laws and related regulations enforced by the FERC and/or the CFTC. To the extent that the company’s intrastate natural gas transportation systems transport natural gas in interstate commerce, the rates and terms and conditions of such services are subject to FERC jurisdiction under Section 311 of the NGPA. The NGPA regulates, among other things, the provision of transportation services by an intrastate natural gas pipeline on behalf of a local distribution company or an interstate natural gas pipeline. The rates and terms and conditions of some transportation and storage services provided on the company’s pipeline systems of Enable Oklahoma Intrastate Transmission, LLC, Oasis Pipeline, LP, Houston Pipe Line Company LP, ETC Katy Pipeline, LLC, Energy Transfer Fuel, LP, , Lobo Pipeline Company, LLC, Pelico Pipeline, LLC, Regency Intrastate Gas LP, Red Bluff Express Pipeline, LLC, Trans-Pecos Pipeline, LLC and Comanche Trail Pipeline, LLC are subject to FERC regulation pursuant to Section 311 of the NGPA. The company’s intrastate natural gas operations are also subject to regulation by various agencies in Texas, principally the TRRC. The company’s intrastate pipeline and storage operations in Texas are also subject to the Texas Utilities Code, as implemented by the TRRC. In addition, the rates, terms and conditions of service for shipments of NGLs on the company’s pipelines are subject to regulation by the FERC under the Interstate Commerce Act (‘ICA’) and the Energy Policy Act of 1992 (the ‘EPAct of 1992’) if the NGLs are transported in interstate or foreign commerce whether by the company’s pipelines or other means of transportation. Section 1(b) of the NGA exempts natural gas gathering facilities from the jurisdiction of the FERC under the NGA. The company owns a number of natural gas pipelines in Texas, Louisiana and West Virginia that meet the traditional tests the FERC uses to establish a pipeline’s status as a gathering pipeline not subject to FERC jurisdiction. In Texas, the company’s gathering facilities are subject to regulation by the TRRC under the Texas Utilities Code in the same manner as described above for the company’s intrastate pipeline facilities. Louisiana’s Pipeline Operations Section of the Department of Natural Resources’ Office of Conservation is generally responsible for regulating intrastate pipelines and gathering facilities in Louisiana and has authority to review and authorize natural gas transportation transactions and the construction, acquisition, abandonment and interconnection of physical facilities. In Louisiana, the company’s Chalkley System is regulated as an intrastate transporter, and the Louisiana Office of Conservation has determined that the company’s Whiskey Bay System is a gathering system. Some of the company’s crude oil, NGL and products pipelines are subject to regulation by the TRRC, the Pennsylvania Public Utility Commission and the Oklahoma Corporation Commission. The company’s pipeline operations are subject to regulation by the DOT, through PHMSA, pursuant to the Natural Gas Pipeline Safety Act of 1968, as amended (‘NGPSA’), with respect to natural gas and the Hazardous Liquids Pipeline Safety Act of 1979, as amended (‘HLPSA’), with respect to crude oil, NGLs and condensates. Environmental Matters The company generates both hazardous and nonhazardous wastes that are subject to requirements of the federal Resource Conservation and Recovery Act, as amended, (‘RCRA’) and comparable state statutes. The company’s operations are subject to the federal Clean Air Act, as amended, and comparable state laws and regulations. The company is subject to the requirements of the federal OSHA and comparable state laws that regulate the protection of the health and safety of workers. History The company was founded in 1996. The company was incorporated in 2005. It was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in 2018.