Energy Transfer 2012 Annual Report Download - page 84
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76
Interstate Transportation and Storage
Years Ended December 31,
2012 2011 Change
Natural gas transported (MMBtu/d)
ETP Legacy Assets 2,978,410 2,800,655 177,755
Southern Union transportation and storage 3,832,929 — 3,832,929
Natural gas sold (MMBtu/d) 18,065 22,405 (4,340)
Revenues $ 1,109 $ 447 $ 662
Operating expenses, excluding non-cash compensation, amortization and
accretion expenses (244)(93)(151)
Selling, general and administrative, excluding non-cash compensation,
amortization and accretion expenses (156)(34)(122)
Adjusted EBITDA related to unconsolidated affiliates 304 53 251
Segment Adjusted EBITDA $ 1,013 $ 373 $ 640
Volumes. Transported volumes increased significantly due to the consolidation of Southern Union's transportation and storage
businesses beginning March 26, 2012. Transported volumes for the Transwestern and Tiger pipelines increased by 177,755
MMBtu/d primarily due to the recent Tiger pipeline expansion.
Revenues. Southern Union's transportation and storage business recognized revenues of $592 million from March 26, 2012 through
December 31, 2012. Tiger pipeline revenues also increased approximately $91 million primarily due to incremental reservation
fees related to the Tiger pipeline expansion. These increases were offset slightly by a decrease in operational gas sales on the
Transwestern pipeline.
Operating Expenses, Excluding Non-Cash Compensation, Amortization and Accretion Expense. Substantially all of the increase
was due to the consolidation of Southern Union's transportation and storage business beginning March 26, 2012.
Selling, General and Administrative, Excluding Non-Cash Compensation, Amortization and Accretion Expense. Substantially all
of the increase was due to the consolidation of Southern Union's transportation and storage business beginning March 26, 2012.
Adjusted EBITDA Related to Unconsolidated Affiliates. Adjusted EBITDA related to unconsolidated affiliates increased primarily
due to our acquisition of a 50% interest in Citrus which contributed $228 million during the year ended December 31, 2012. In
addition, Adjusted EBITDA related to FEP increased $24 million primarily due to an increase in demand fees as a result of
incremental volume commitments in our shippers' take or pay contracts.
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