Energy Transfer
Energy Transfer LP is a leading midstream energy partnership that provides a comprehensive suite of logistics services for natural gas, crude oil, and natural gas liquids (NGLs). The company operates a vast network of infrastructure across the United States, connecting major production basins to key domestic and international markets. Its core value proposition lies in its integrated asset base, which facilitates the gathering, processing, transportation, and storage of energy products.
Financials
Based on Q1 2026 filing
Revenue
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Intrastate Transportation and Storage
majorOperates one of the largest intrastate pipeline systems in the U.S., primarily in Texas and Oklahoma, moving natural gas from shale plays to major trading hubs and industrial consumers.
Oasis Pipeline, Katy Pipeline, Lobo Pipeline, RIGS, Pelico Pipeline, ET Fuel, HPL, Enable Oklahoma Intrastate Transmission, Red Bluff Express Pipeline
Electric utilities, Independent power plants, Local distribution companies, Industrial end-users, Marketing companies
Interstate Transportation and Storage
majorManages a vast network of interstate pipelines spanning from Florida to California, capable of transporting gas from nearly all Lower 48 supply basins to major regional markets.
Interstate natural gas pipelines, Lake Charles LNG import terminal, Lake Charles LNG regasification facility
Industrial end-users, Third-party pipelines, Global energy companies
Midstream
majorFocuses on the gathering, compression, treating, and processing of natural gas at the wellhead to meet pipeline quality specifications and extract valuable NGL streams.
Natural gas gathering pipelines, Natural gas processing plants, Treating facilities, Conditioning facilities
Natural gas producers, Upstream exploration companies
Segment Financials
Interstate transportation and storage — Total operating expenses, excluding non-cash compensation, amortization, accretion and other non-cash expenses
View metricIntrastate transportation and storage — Adjusted EBITDA (consolidated)
View metricIntrastate transportation and storage — Total operating expenses, excluding non-cash compensation, amortization, accretion and other non-cash expenses
View metricInterstate transportation and storage — Selling, general and administrative expenses, excluding non-cash compensation and accretion expenses
View metricInterstate transportation and storage — Adjusted EBITDA (consolidated)
View metricMidstream — Selling, general and administrative expenses, excluding non-cash compensation and accretion expenses
View metricMidstream — Adjusted EBITDA (consolidated)
View metricMidstream — Total operating expenses, excluding non-cash compensation, amortization, accretion and other non-cash expenses
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Competitive Position
A dominant midstream player with one of the most geographically diverse and integrated pipeline networks in North America.
Geographies
United States, Canada, Mexico
Customer Segments
Utilities, Industrial manufacturers, Upstream producers, Energy marketers
Upstream Dependencies
Exploration and production companies, Wellhead natural gas supply, Pipeline equipment manufacturers
Downstream Customers
Power generation facilities, Local gas distribution utilities, Petrochemical plants, Export markets
Competitors & Partners
Competitors
Kinder Morgan
KMI
Large-scale natural gas pipeline operator
Enterprise Products Partners
EPD
Major diversified midstream competitor
Targa Resources
TRGP
Midstream gathering and processing competitor
Williams Companies
WMB
Natural gas infrastructure and processing competitor
Oneok
OKE
Competitor in natural gas and NGL transportation and storage
MPLX
MPLX
Large-scale midstream infrastructure competitor.
Subsidiaries
Sunoco
SUN
Master limited partnership focused on fuel distribution
USA Compression Partners
USAC
Provider of natural gas compression services
SunocoCorp
Publicly traded limited liability company managed by ET
Lake Charles LNG
Wholly owned LNG terminal and regasification subsidiary
Energy Transfer FAQ
Common questions about Energy Transfer
Energy Transfer LP is a leading midstream energy partnership that provides a comprehensive suite of logistics services for natural gas, crude oil, and natural gas liquids (NGLs). The company operates a vast network of infrastructure across the United States, connecting major production basins to key domestic and international markets. Its core value proposition lies in its integrated asset base, which facilitates the gathering, processing, transportation, and storage of energy products.
Energy Transfer (ET) has a market capitalization of $69.1B and trades on NYSE.
Energy Transfer generated $92.3B in trailing twelve-month revenue with net income of $4.4B, representing a net margin of 4.7%. Gross margin stands at 25.1%, with free cash flow of $3.8B. These figures are based on the Q1 2026 filing.
Energy Transfer's key competitors include Kinder Morgan, Inc., Enterprise Products Partners L.P., Targa Resources Corp., and others. These companies compete in similar markets and product categories.
Energy Transfer has approximately 13,786 employees.