Energy Transfer Takes a Major Step Toward Adding a Lot More Fuel to Grow Its High-Yielding Dividend
Energy Transfer (NYSE: ET) has been working to convert its Lake Charles facility in Louisiana from natural gas imports to a liquefied natural gas (LNG) export terminal for many years. The midstream giant has faced many obstacles along the road, which have delayed this project. However, the master limited partnership (MLP) recently took a significant step in that key project. Moving forward with Lake Charles LNG would meaningfully enhance and extend Energy Transfer's long-term growth outlook, adding a lot more fuel to grow its high-yielding distribution (nearly 8% at the current yield).It was more than 10 years ago when Energy Transfer first proposed converting its existing natural gas import terminal in Lake Charles into an LNG export terminal with nearly 16.5 million tons per year of LNG production and export capacity. It was initially working with BG Group on the project. Global LNG giant Shell (NYSE: SHEL) became its 50/50 joint venture partner in 2016 after closing its acquisition of BG Group. Continue reading
Energy Transfer (NYSE: ET) has been working to convert its Lake Charles facility in Louisiana from natural gas imports to a liquefied natural gas (LNG) export terminal for many years. The midstream giant has faced many obstacles along the road, which have delayed this project.
However, the master limited partnership (MLP) recently took a significant step in that key project. Moving forward with Lake Charles LNG would meaningfully enhance and extend Energy Transfer's long-term growth outlook, adding a lot more fuel to grow its high-yielding distribution (nearly 8% at the current yield).
It was more than 10 years ago when Energy Transfer first proposed converting its existing natural gas import terminal in Lake Charles into an LNG export terminal with nearly 16.5 million tons per year of LNG production and export capacity. It was initially working with BG Group on the project. Global LNG giant Shell (NYSE: SHEL) became its 50/50 joint venture partner in 2016 after closing its acquisition of BG Group.
