Energy Transfer 2015 Annual Report Download - page 7

Table of Contents
PART I
ITEM 1. BUSINESS
Overview
We (Energy Transfer Partners, L.P., a Delaware limited partnership, “ETP” or the “Partnership”) are one of the largest publicly traded master limited
partnerships in the United States in terms of equity market capitalization (approximately $15.05 billion as of January 29, 2016). We are managed by our
general partner, Energy Transfer Partners GP, L.P. (our “General Partner” or “ETP GP”), and ETP GP is managed by its general partner, Energy Transfer
Partners, L.L.C. (“ETP LLC”), which is owned by Energy Transfer Equity, L.P., another publicly traded master limited partnership (“ETE”). The primary
activities in which we are engaged, all of which are in the United States, and the operating subsidiaries (collectively referred to as the “Operating
Companies”) through which we conduct those activities are as follows:
• Natural gas operations, including the following:
• natural gas midstream and intrastate transportation and storage through La Grange Acquisition, L.P., which we refer to as ETC OLP; and
• interstate natural gas transportation and storage through ET Interstate and Panhandle. ET Interstate is the parent company of Transwestern, ETC FEP,
ETC Tiger, CrossCountry and ET Rover Pipeline LLC. Panhandle is the parent company of the Trunkline and Sea Robin transmission systems. ETP
owns a 50% interest in MEP.
• Liquids operations, including NGL transportation, storage and fractionation services primarily through Lone Star.
• Product and crude oil operations, including the following:
• product and crude oil transportation, terminalling services and acquisition and marketing activities through Sunoco Logistics; and
• retail marketing of gasoline and middle distillates through Sunoco, Inc.
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