ET - Energy Transfer Is Looking at Adding a New Fuel to Help Drive Growth
2024-02-20 05:11:00 ET
Energy Transfer (NYSE: ET) has grown significantly over the years. The master limited partnership ( MLP ) has invested billions of dollars to build and buy energy midstream assets. These investments have given it the fuel to grow its earnings and high-yielding distribution.
The MLP expects to continue growing in the future, even as the global economy transitions to lower carbon fuels. That energy transition is leading the MLP to seek new sources of future growth. One opportunity it's currently evaluating is blue ammonia. Here's a look at how that lower carbon fuel could give Energy Transfer another future growth driver.
Ammonia is a fuel with a range of potential applications. The versatile fuel has lots of uses, including in transportation, power generation, and industrial production of things like cement and fertilizer. Companies make it from nitrogen and blue hydrogen produced from natural gas.
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Energy Transfer Is Looking at Adding a New Fuel to Help Drive Growth