Energy Transfer pipeline fire in Texas forces evacuations

Energy Transfer (NYSE:ET) closes flat in Monday’s trading, rebounding from a sharp slide that initially followed news that one of its natural gas liquid pipelines exploded and caught fire in La Porte, Texas, causing a large evacuation of area homes and businesses; no injuries were reported.

More than 5,000 CenterPoint Energy (CNP) customers were without power shortly after the incident.

Reports suggested an unknown passenger car may have entered a right-of-way and struck a pipeline valve location, potentially causing the fire.

Energy Transfer (ET) said the line was isolated by midday for residual product to burn off, although it is not clear how long the process might take.

The Texas Railroad Commission, which regulates the state’s oil and gas industry, said it is investigating the fire.