Energy Transfer Announces Binding Open Season for Project Permian Express 3

Energy Transfer Partners, L.P. (NYSE: ETP) (“ETP” or the
“Partnership”) today announced that Permian Express Terminal LLC and
Permian Express Partners LLC will commence a binding Open Season for
Permian Express 3. The project is being developed to deliver crude oil
from the Permian Basin to multiple markets.

Permian Express 3 is initially expected to provide transportation of up
to 100,000 barrels per day, with service commencing in the fourth
quarter of 2017.

Additional committed service opportunities are expected to be offered in
future open seasons that will provide for an estimated total capacity of
up to 300,000 barrels per day.

The initial phase of the project will provide Midland Basin producers
new crude oil takeaway capacity from this rapidly growing area to the
Nederland, Texas, market. Future phases of the project are anticipated
to offer crude oil transportation service from the Delaware Basin to
multiple markets.

The Open Season will commence on May 16, 2017. Subject to the terms of
the Open Season, incentive rates will be available to shippers making
long-term volume commitments during the Open Season. The Notice of Open
Season will be available on the website at: http://www.energytransfer.com/Permian-Express-3/index.html.

More information about the Open Season is available by contacting:
Chris
Martin
281-637-6548
Senior Director, Business Development
chris.martin@energytransfer.com

Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership that owns and operates one of the largest and most
diversified portfolios of energy assets in the United States.
Strategically positioned in all of the major U.S. production basins, ETP
owns and operates a geographically diverse portfolio of complementary
natural gas midstream, intrastate and interstate transportation and
storage assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and various
acquisition and marketing assets. ETP’s general partner is owned by
Energy Transfer Equity, L.P. (NYSE: ETE). For more information, visit
the Energy Transfer Partners, L.P. website at www.energytransfer.com.

Forward-Looking Statements

This news release may include certain statements concerning expectations
for the future that are forward-looking statements as defined by federal
law. Such forward-looking statements are subject to a variety of known
and unknown risks, uncertainties, and other factors that are difficult
to predict and many of which are beyond management’s control. An
extensive list of factors that can affect future results are discussed
in the Partnership’s Annual Report on Form 10-K and other documents
filed from time to time with the Securities and Exchange Commission. The
Partnership undertakes no obligation to update or revise any
forward-looking statement to reflect new information or events.

The information contained in this press release is available on our
website at www.energytransfer.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170515006794/en/

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