02:25 PM EST, 12/06/2024 (MT Newswires) -- Energy Transfer ( ET ) said Friday it has made a final investment decision to construct a $2.7 billion intrastate pipeline that will carry natural gas from the Permian Basin to key markets and trading hubs.

The Hugh Brinson Pipeline, previously called the Warrior Pipeline, will be built in two phases, the company said. The first phase includes a 400-mile pipeline with a capacity of 1.5 billion cubic feet per day, set to be in service by end-2026.

The second phase will expand the pipeline capacity to about 2.2 Bcf/d, it said.

The project is backed by long-term, fee-based commitments from strong investment-grade counterparties, the company said.

Shares of Energy Transfer ( ET ) were up 1.2% in recent trading.

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