Enterprise and Energy Transfer Extend Open Commitment Period for Capacity on Cushing to Houston Crude Oil Pipeline

HOUSTON & DALLAS--July 8, 2011: Enterprise Products Partners L.P. and Energy Transfer Partners, L.P. today announced a three-week extension of the binding open commitment period for capacity on the proposed Double E Crude Oil Pipeline from Cushing, Oklahoma to Houston. The commitment period, which now concludes July 29, 2011 at 5 p.m. CDT, is intended to give interested shippers the time they need to obtain final internal approvals and complete the required Transportation Services Agreement.

The Double E Pipeline would provide up to 450,000 barrels per day (BPD) of takeaway capacity for crude oil currently stranded at the Cushing storage hub because of a lack of southbound pipeline infrastructure. The project, which would be designed and developed as a 50/50 joint venture between Enterprise and Energy Transfer, offers shippers greater access to the Gulf Coast refining complex, while providing refiners with a reliable, domestic source of crude oil as an alternative to higher priced imported crude oil that currently represents their largest source of supply.

Along with providing the industry with an expedient and cost-effective takeaway solution, the Double E Pipeline would feature connectivity to multiple facilities at the points of origin and destination, including access to locations along the Gulf of Mexico that offer marine terminal loading capabilities, helping to ensure market choice for shippers and the flexibility to maximize the value of their commodity. To promote operational efficiency, the joint venture partners would also construct and own approximately 500,000 barrels of crude oil storage capacity at Enterprise's ECHO terminal in southeast Harris County, Texas. Subject to sufficient customer commitments and required approvals, the Double E Pipeline is expected to begin service in the fourth quarter of 2012.

Enterprise Products Partners L.P. is the largest publicly traded partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. EPD's assets include approximately: 50,200 miles of onshore and offshore pipelines; 192 million barrels of storage capacity for NGLs, refined products and crude oil; and 27 billion cubic feet of natural gas storage capacity. Services include: natural gas transportation, gathering, processing and storage; NGL fractionation, transportation, storage, and import and export terminaling; crude oil and refined products storage, transportation and terminaling; offshore production platform; petrochemical transportation and storage; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico.

Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Arkansas, Colorado, Louisiana, Mississippi, New Mexico, Utah, and West Virginia and owns the largest intrastate pipeline system in Texas. ETP currently has natural gas operations that include more than 17,500 miles of gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP also holds a 70 percent interest in Lone Star NGL LLC, a joint venture that owns and operates NGL storage, fractionation and transportation assets in Texas, Louisiana and Mississippi. ETP also is one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.

Energy Transfer Equity, L.P. is a publicly traded partnership, which owns the general partner and 100 percent of the incentive distribution rights (IDRs) of Energy Transfer Partners and approximately 50.2 million ETP limited partner units; and owns the general partner and 100 percent of the IDRs of Regency Energy Partners and approximately 26.3 million Regency limited partner units.