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Dakota Access pipeline reroute will not be considered, CEO Warren says

Published 11/18/2016, 03:39 PM
Dakota Access pipeline reroute will not be considered, CEO Warren says
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  • Energy Transfer Partners (ETP +3%) CEO Kelcy Warren says the company will not consider rerouting its Dakota Access oil pipeline despite concerns from U.S. native groups, according to an AP interview.
  • Warren says he would welcome the chance to meet with the head of the Standing Rock Sioux tribe to address concerns that the $3.8B pipeline would endanger drinking water and cultural sites, but says ETP has no alternative than to stick to its planned route.
  • The 1,200-mile pipeline is largely complete except for a section that would pump oil under Lake Oahe, a Missouri River reservoir in southern North Dakota, and Warren says "we're going to cross the river at that location," calling it the "least impactful" site.
  • Warren's latest remarks follow his recent NPR interview in which he expressed his determination to complete the project in spite of growing protests.
  • Also: ETE +3.7%, SXL -2.5%.


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