4-21-2016

Phillips 66 Partners, Energy Transfer Partners and Sunoco Logistics Announce Start of Commercial Operations on Bayou Bridge Pipeline

HOUSTON & DALLAS & PHILADELPHIA--(BUSINESS WIRE)--Bayou Bridge Pipeline, LLC (Bayou Bridge) today announced that it has started commercial operations on the 30-inch segment of the Bayou Bridge Pipeline from Nederland, Texas, to Lake Charles, Louisiana. Bayou Bridge is jointly owned by subsidiaries of Phillips 66 Partners LP (NYSE:PSXP), Energy Transfer Partners, L.P. (NYSE:ETP) and Sunoco Logistics Partners L.P. (NYSE:SXL).

In addition, the joint venture completed a successful binding expansion open season to assess additional interest in transportation service from Nederland, Texas, to refining markets east of Lake Charles on the Bayou Bridge Pipeline. Based on shipper commitments, the Louisiana segment of the pipeline from Lake Charles to St. James will be 24 inches in diameter.

At Lake Charles, Bayou Bridge has agreed to connect to Phillips 66 Partners’ Clifton Ridge terminal and Citgo’s Lake Charles refinery. At St. James, Bayou Bridge has agreed to connections to Plains Marketing, L.P.’s and NuStar Energy L.P.’s crude oil terminals. Bayou Bridge also is in discussions with additional parties to connect to the extensive existing crude oil terminalling infrastructure in the region.

Bayou Bridge remains on schedule with respect to the 24-inch segment to St. James, and commercial operations for this segment are expected to begin in the second half of 2017, as previously announced.

About Phillips 66 Partners

Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum product and natural gas liquids pipelines and terminals and other transportation and midstream assets. For more information, visit www.phillips66partners.com.

About Energy Transfer Partners

Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership owning and operating one of the largest and most diversified portfolios of energy assets in the United States. ETP’s subsidiaries include Panhandle Eastern Pipe Line Company, LP (the successor of Southern Union Company) and Lone Star NGL LLC, which owns and operates natural gas liquids storage, fractionation and transportation assets. In total, ETP currently owns and operates more than 62,500 miles of natural gas and natural gas liquids pipelines. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 67.1 million common units in Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETP’s general partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE). For more information, visit the Energy Transfer Partners, L.P. website at www.energytransfer.com.

About Sunoco Logistics

Sunoco Logistics Partners L.P. (NYSE: SXL) is a master limited partnership that owns and operates a logistics business consisting of a geographically diverse portfolio of complementary crude oil, refined products, and natural gas liquids pipeline, terminalling and acquisition and marketing assets which are used to facilitate the purchase and sale of crude oil, refined products, and natural gas liquids. SXL’s general partner is a consolidated subsidiary of Energy Transfer Partners, L.P. (NYSE: ETP). For more information, visit the Sunoco Logistics Partners L.P. website at www.sunocologistics.com.

Forward-Looking Statements

This press release includes certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Annual Reports on Form 10-K and other documents filed by Phillips 66 Partners, Energy Transfer and Sunoco Logistics from time to time with the Securities and Exchange Commission. Phillips 66 Partners, Energy Transfer and Sunoco Logistics undertake no obligation to update or revise any forward-looking statement to reflect new information or events.

Contacts

Phillips 66 Partners
Investor Relations:
Rosy Zuklic, 832-765-2297
rosy.zuklic@p66.com
or
C.W. Mallon, 832-765-2297
c.w.mallon@p66.com
or
Media Relations:
Lara Burhenn, 832-765-4400
lara.k.burhenn@p66.com
or
Energy Transfer
Investor Relations:
Energy Transfer
Brent Ratliff, 214-981-0795
or
Media Relations:
Granado Communications Group
Vicki Granado, 214-599-8785
Cell: 214-498-9272
or
Sunoco Logistics
Investor Relations:
Peter Gvazdauskas, 215-977-6322
or
Media Relations:
Jeff Shields, 215-977-6056