SUN - Energy Transfer pushes to finish Pennsylvania NGL line expansion in Q3
Energy Transfer (ET) says it plans to finish the final phase of its Mariner East 2 natural gas liquids pipeline expansion in Pennsylvania during Q3 despite calls by county commissioners to shut some operating parts of the system.Saying several sinkholes have formed this year near the Mariner East 2 construction site in southeastern Pennsylvania, some Chester County commissioners this week asked the Pennsylvania Public Utility Commission to shut the operating Mariner East 1 and a "workaround" pipe being used by the Mariner East 2 expansion.Energy Transfer says "there are no safety concerns regarding the ongoing operations of our active pipelines in this area, which have safely operated for years."Mariner East transports liquids from the Marcellus/Utica shale in western Pennsylvania to customers in the state and elsewhere, and the Sunoco (SUN) unit started work on the $2.5B Mariner East expansion in 2017.Energy Transfer's 6% yield is "easily sustainable as the company
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Energy Transfer pushes to finish Pennsylvania NGL line expansion in Q3