Energy Transfer eyes draft environmental statement for Blue Marlin project this quarter (updated)
08/05/2024 23:03
(New throughout, adds background and details from earnings
call)
By Liz Hampton
May 8 (Reuters) -
Pipeline operator Energy Transfer ET.N expects to receive
a draft Environmental Impact Statement (EIS) for its Blue Marlin
offshore terminal this quarter, executives said on Wednesday
during a quarterly earnings call.
Energy Transfer is among several firms vying to build
deepwater ports along the Texas Gulf Coast in a bet on rising
U.S. crude production and growing exports. U.S. crude exports
totaled 4.5 million barrels last week, according to the U.S.
Energy Information Administration.
The Dallas, Texas-based company anticipates receiving a
license for the terminal within a year of the EIS. Rival
Enterprise Products Partners in April became the first company
to receive a license for such a project from the U.S. maritime
regulator.
Energy Transfer's transported oil volumes grew by 44%
during the first quarter to 6.1 million barrels per day, in part
due to acquisitions, the company said on Wednesday.
Its oil terminal volumes were up 10% to 3.2 million bpd
due stronger Gulf Coast refinery utilization, output growth in
the Permian and North Dakota's Bakken shale, and acquisitions.
The company said it would continue to evaluate
acquisition opportunities going forward.
"Consolidation makes sense in the midstream space," said
co-CEO Tom Long, adding "We're not going to slow down on that
front."
(Reporting by Liz Hampton in Denver; Editing by Leslie Adler
and David Gregorio)
((Liz.Hampton@thomsonreuters.com; +1 832 571 8115; Reuters
Messaging: Reuters Messaging: liz.hampton.reuters@reuters.net))