Energy Transfer

Energy Transfer LP

Company type	Limited partnership
Industry	Energy (midstream)
Founded	1996 (1996)
Founder	Ray Davis, Kelcy Warren
Headquarters	Dallas , United States
Area served	United States, global (NGL exports)
Key people	Kelcy Warren (Executive Chairman)
Products	Natural gas, crude oil, natural gas liquids, refined petroleum products, liquefied natural gas

Energy Transfer LP stands as a prominent U.S. energy corporation focused on the transportation, storage, and terminal operations of natural gas, crude oil, natural gas liquids (NGLs), refined petroleum products, and liquefied natural gas (LNG). Established in 1996 by entrepreneurs Ray Davis and Kelcy Warren, with Warren continuing as Executive Chairman, the company is based in Dallas, Texas and incorporated under Delaware jurisdiction.

By 2023, Energy Transfer oversees an extensive network of pipelines spanning across the United States, positioning it among the nation's largest midstream operators. Additionally, it holds a leading role globally as an exporter of NGLs, commanding a substantial market presence in this sector.

Business structure

Energy Transfer possesses controlling interests in Sunoco LP and fully owns Sunoco Logistics Partners Operations L.P. It also holds a 46% non-economic general partner stake in USA Compression Partners L.P. Moreover, the company entirely owns Lake Charles LNG, an LNG import and regasification terminal located near Lake Charles, Louisiana.

The natural gas segment manages nearly of pipeline infrastructure that facilitates the movement of gas from mainline transmission systems, storage facilities, and gathering networks to industrial clients, utility companies, and other pipeline operators.

Notable pipeline holdings include:

• A 36.4% share in both the Dakota Access Pipeline and the Energy Transfer Crude Oil Pipeline
• Majority ownership (60%) of the Bayou Bridge Pipeline
• Half ownership (50%) of the Florida Gas Transmission pipeline
• Complete control (100%) over the Trunkline Pipeline, Transwestern Pipeline, Panhandle Eastern, Sea Robin Pipeline, Revolution Pipeline, and Mariner East pipelines
• A 32.6% interest in the Rover pipeline

By 2022, Energy Transfer’s portfolio encompassed 11,600 miles of pipelines along with two storage facilities situated in Texas, underscoring its strategic foothold within vital energy corridors.

History

Founded in 1996 by Kelcy Warren and Ray Davis, Energy Transfer has consistently pursued an assertive growth strategy aimed at expanding its midstream assets and increasing market penetration. In 2011, it partnered with Regency Energy Partners to form a joint venture acquiring $2 billion worth of midstream assets from Louis Dreyfus Highbridge Energy (now Castleton Commodities International).

In October 2012, Sunoco, Inc. was fully integrated as a subsidiary, bringing a geographically diversified set of crude oil and refined product pipelines through Sunoco Logistics Partners L.P. That same year, Energy Transfer’s acquisition of Southern Union Company added over 20,000 miles to its pipeline network.

The August 2014 purchase of Susser Holdings Corporation introduced Stripes Convenience Stores into its portfolio; these were subsequently rebranded under Sunoco and A-Plus banners. In January 2015, Energy Transfer acquired Regency Energy Partners for $11 billion. This was followed by a $32.6 billion deal to buy Williams Companies, significantly broadening its footprint in U.S. natural gas pipelines.

October 2018 marked the completion of Energy Transfer Equity’s acquisition of Energy Transfer Partners, unifying operations under the Energy Transfer LP name. Growth continued with the $5 billion acquisition of SemGroup in September 2019. The addition of former U.S. Energy Secretary Rick Perry to the board in January 2020 further strengthened the company’s strategic leadership.

Most recently, in August 2023, Energy Transfer revealed a definitive agreement to acquire Houston-based competitor Crestwood Equity Partners for roughly $7.1 billion, enhancing its competitive positioning and expanding its global operations.

Dakota Access Pipeline

Dakota Access, LLC, in which the company holds a 36.4% stake, was responsible for the development of the Bakken pipeline, commonly referred to as the Dakota Access Pipeline. In April 2016, the U.S. Environmental Protection Agency, Department of the Interior, and Advisory Council on Historic Preservation collectively called for a comprehensive Environmental Impact Statement. Subsequently, in July 2016, the Standing Rock Sioux Tribe sought an injunction to stop construction, triggering extensive protests and numerous legal disputes.

The international movement ReZpect Our Water was initiated by activists, with demonstrations near the Cannonball River resulting in hundreds of arrests and involvement from private security firms, state law enforcement, and the National Guard. In August 2017, Energy Transfer filed a lawsuit under the Patriot Act against environmental organizations including Greenpeace USA and BankTrack, accusing them of eco-terrorism aimed at obstructing pipeline construction. BankTrack condemned the lawsuit as a calculated effort to suppress public engagement.

A federal court dismissed Energy Transfer’s racketeering and defamation claims against Greenpeace and other defendants in 2019. The suit alleged that false statements were made regarding sacred sites and contamination hazards; meanwhile, Greenpeace documented over 500 spills by Energy Transfer subsidiaries over the preceding ten years. Additionally, a separate civil case filed in 2025 sought $300 million in damages from Greenpeace for its involvement in protest activities; Greenpeace refuted these charges.

In 2025, a jury in North Dakota awarded Energy Transfer $666.8 million in damages, finding Greenpeace USA and related entities liable for defamation, trespass, nuisance, and civil conspiracy connected to protests that disrupted pipeline construction. Of this amount, $535 million was assigned specifically to Greenpeace USA and Greenpeace Fund. The verdict asserted that Greenpeace had provided financial and logistical assistance to activists. Greenpeace is currently pursuing an appeal against this decision.