The Republic of Panama & Energy Transfer Announce the Signing of a Memorandum of Understanding to Study the Development of Li...
July 13 2021 - 12:45PM
Business Wire
The Trans-Panama Gateway Pipeline Project would
Move Liquified Petroleum Gas Across Panama for Re-Export
The Republic of Panama and Dallas-based Energy Transfer LP
(NYSE: ET) announced today that the parties have signed a
Memorandum of Understanding (MOU) to study the feasibility of joint
participation in a proposed Trans-Panama Gateway Pipeline project.
The non-binding MOU signed yesterday in Dallas by Energy Transfer
Executive Chairman Kelcy Warren and Panama President Laurentino
Cortizo Cohen would expand Energy Transfer’s international
operations into new markets while providing Panama the opportunity
to establish itself as a distribution center of petroleum products
to markets globally.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210713005987/en/
Panama President Laurentino Cortizo Cohen
and Energy Transfer Executive Chairman Kelcy Warren (Photo:
Business Wire)
Energy Transfer, formed in 1996 is one of the largest and most
diversified midstream companies in the United States with more than
90,000 miles of pipelines and associated infrastructure in 38
states and Canada, with international offices in Canada and
Beijing.
The project under consideration by the parties includes the
development, construction and operation of a terminal on the
Pacific side of Panama and another on the Atlantic side connected
by a pipeline for the receipt, transportation and export of
liquified petroleum gas (LPG) to international markets. Any
decisions made by the parties will be based on the outcomes of
joint feasibility studies and an economic analysis related to the
transportation of LPG in Panama.
Energy Transfer LP (NYSE: ET) owns and operates one of
the largest and most diversified portfolios of energy assets in the
United States, with a strategic footprint in all of the major
domestic production basins. ET is a publicly traded limited
partnership with core operations that include complementary natural
gas midstream, intrastate and interstate transportation and storage
assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and
various acquisition and marketing assets. ET also owns Lake Charles
LNG Company, as well as the general partner interests, the
incentive distribution rights and 28.5 million common units of
Sunoco LP (NYSE: SUN), and the general partner interests and 46.1
million common units of USA Compression Partners, LP (NYSE: USAC).
For more information, visit the Energy Transfer website at
energytransfer.com.
Statements about the offering may be forward-looking statements
as defined under federal law. Forward-looking statements can be
identified by words such as “anticipates,” “believes,” “intends,”
“projects,” “plans,” “expects,” “continues,” “estimates,” “goals,”
“forecasts,” “may,” “will” and other similar expressions. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and factors, many of which are outside the control of
ET, and a variety of risks that could cause results to differ
materially from those expected by management of ET. Important
information about issues that could cause actual results to differ
materially from those expected by management of ET can be found in
ET’s public periodic filings with the SEC, including its Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q. ET
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time.
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version on businesswire.com: https://www.businesswire.com/news/home/20210713005987/en/
Media Relations: Lisa Coleman or Vicki Granado,
214-840-5820 media@energytransfer.com
Investor Relations: Bill Baerg, Brent Ratliff, Lyndsay
Hannah, 214-981-0795
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