Energy Transfer gets first-quarter lift from gas demand surge during Texas freeze

摘要

Energy Transfer swung to a massive first-quarter profit from a yearago loss as the midstream operator was able to keep strategically located pipelines and storage assets working during the Texas freeze in February and benefitted from the higher prices that resulted from the surge in demand. The strong results reported in a statement May 6 came despite a decline in overall gas volumes that moved on its intrastate and interstate systems. The operator of the Rover gas pipeline, Dakota Access crude pipeline and Mariner East NGL pipeline, as well as developer of the proposed Lake Charles LNG export project in Louisiana, said preparation for the coldest temperatures to hit the state in decades helped. By pre-deploying employees and equipment and adding line pack to pipelines to serve as additional storage, it was able to deliver natural gas to facilities throughout Texas for residential consumption and power generation.