Energy Transfer Operating, formerly Energy Transfer Partners, is a company engaged in the natural gas midstream and intrastate transportation and storage businesses. The Intrastate Transportation and Storage segment transports natural gas from various natural gas producing areas. The Company’s Midstream segment gathers, compresses, treats, blends, processes, and markets natural gas. The Company's Liquids Transportation and Services segment transports mixed NGLs and other hydrocarbons. The Company merged with Energy Transfer, formerly Energy Transfer Equity.