Energy Transfer Partners and Sunoco Logistics Partners Denounce Today’s Announcement by the Army Corps of Engineers
November 14 2016 - 11:18PM
Business Wire
Energy Transfer Partners, L.P. (NYSE: ETP) and Sunoco Logistics
Partners, L.P. (NYSE: SXL) denounced today’s announcement by the
Army Corps of Engineers regarding Dakota Access Pipeline’s
authority to cross under Lake Oahe in North Dakota as unjust and a
reinforcement of the Administration’s lack of interest in enforcing
and abiding by the law. Furthermore, there was no legal or factual
justification stated by the Corps for the delay. In fact, the Corps
admitted again today that its review had concluded that all
previous decisions complied with the all applicable legal
requirements.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20161114006703/en/
The Corps knows full well that it is seeking additional
consultation with a party that has steadfastly refused to consult.
Rather than holding Standing Rock Sioux Tribe accountable for its
decisions over the past three years, it seeks to reward them at
this late date.
“This action is motivated purely by politics at the expense of a
company that has done nothing but play by the rules it was given,”
said Kelcy Warren, CEO of Energy Transfer Partners. “To propose, as
the Corps now does, to further delay this pipeline and to engage in
what can only be described as a sham process sends a frightening
message about the rule of law.”
Dakota Access is fully confident that the previous review
process conducted by the Corps was extremely thorough and
comprehensive. The Corps has supported and defended this process in
two federal courts and has been upheld both times.
Dakota Access will vigorously pursue its legal rights in this
matter.
About Energy Transfer Partners
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership that owns and operates one of the largest and most
diversified portfolios of energy assets in the United States. ETP’s
subsidiaries include Panhandle Eastern Pipe Line Company, LP (the
successor of Southern Union Company) and Lone Star NGL LLC, which
owns and operates natural gas liquids storage, fractionation and
transportation assets. In total, ETP currently owns and operates
more than 62,500 miles of natural gas and natural gas liquids
pipelines. ETP also owns the general partner, 100% of the incentive
distribution rights, and approximately 67.1 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,
L.P. For more information, visit the Energy Transfer Partners, L.P.
web site at www.energytransfer.com.
About Sunoco Logistics
Sunoco Logistics Partners L.P. (NYSE: SXL) is a master limited
partnership that owns and operates a logistics business consisting
of a geographically diverse portfolio of complementary pipeline,
terminalling, and acquisition and marketing assets which are used
to facilitate the purchase and sale of crude oil, refined products,
and natural gas liquids, and refined products. SXL’s general
partner is a consolidated subsidiary of Energy Transfer Partners,
L.P. (NYSE: ETP). For more information, visit the Sunoco Logistics
Partners L.P. website at www.sunocologistics.com.
Forward-Looking Statements
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 the Partnerships’ Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. The Partnerships undertake no
obligation to update or revise any forward-looking statement to
reflect new information or events.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161114006703/en/
Energy TransferInvestor Relations:Brent Ratliff,
214-981-0795orGranado Communications GroupMedia
Relations:Vicki Granado, 214-599-8785Cell:
214-498-9272orSunoco LogisticsInvestor
Relations:Peter Gvazdauskas, 215-977-6322orMedia
Relations:Jeff Shields, 215-977-6056
Sunoco (NYSE:SUN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Sunoco (NYSE:SUN)
Historical Stock Chart
From Sep 2023 to Sep 2024