US pipeline operator Energy Transfer is developing alternative energy projects

A TC Energy pumping station sits behind mounds of earth from the Keystone XL crude oil pipeline, which is idle near Oyen, Alberta, Canada on February 1, 2021. REUTERS / Todd Korol

Feb. 11 (Reuters) – Energy Transfer LP (ET.N) said Thursday it had formed a new company to step up efforts to develop alternative energy projects as the pipeline operator looks to reduce its carbon footprint.

Traditional oil and gas companies are under increasing pressure to invest more in renewable energy and carbon capture technologies to combat climate change.

Energy Transfer’s Alternative Energy Group will focus on renewable energy projects including solar and wind farms, either as an electricity buyer or in partnership with third party developers, and will be led by the Company’s General Counsel, Tom Mason.

The company said it also wants to develop renewable diesel and renewable natural gas opportunities, adding that these potential projects could include the use of Energy Transfer’s pipeline system.

Reporting by Rithika Krishna in Bengaluru; Editing by Ramakrishnan M.

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