EXHIBIT 5.1
September 25, 2007
Energy Transfer Equity, L.P.
3738 Oak Lawn Avenue
Dallas, Texas 75219
Re: Registration Statement on Form S-3 (the Registration Statement)
Ladies and Gentlemen:
We have acted as counsel for Energy Transfer Equity, L.P., a Delaware limited partnership (the
Partnership), with respect to certain legal matters in connection with the preparation and filing
of a registration statement on Form S-3 (the Registration Statement) by the Partnership under the
Securities Act of 1933, as amended (the Securities Act), relating to the offer and sale by the
Partnership from time to time, pursuant to Rule 415 under the Securities Act, of common units
representing limited partner interests in the Partnership (the Units).
We have also acted as counsel for the Partnership, with respect to certain legal matters in
connection with the Registration Statement relating to the offer and sale by the selling
unitholders named therein from time to time, pursuant to Rule 415 under the Securities Act, of up
to an aggregate of 66,625,600 common units representing limited partnership interests in the
Partnership (the Selling Unitholder Units), to be sold by certain selling unitholders, as
described in the Registration Statement.
We have examined the Registration Statement, the relating prospectuses, the Third Amended and
Restated Agreement of Limited Partnership of the Partnership (the Partnership Agreement), the
Certificate of Limited Partnership of the Partnership (the Certificate) filed with the Secretary
of State of Delaware pursuant to the Delaware Revised Uniform Limited Partnership Act in connection
with the formation of the Partnership and such other documents as we have deemed necessary or
appropriate for purposes of this opinion. In addition, we have reviewed certain certificates of
officers of the general partner of the Partnership and of public officials, and we have relied on
such certificates with respect to certain factual matters that we have not independently
established.
In connection with this opinion, we have assumed that:
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Vinson & Elkins LLP Attorneys at Law Austin Beijing Dallas Dubai
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First City Tower, 1001 Fannin Street, Suite 2300, Houston, TX 77002-6760 |
Houston London Moscow New York Shanghai Tokyo Washington
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Tel 713.758.2222 Fax 713.758.2346 www.velaw.com |
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September 25, 2007 Page 2 |
(1) The Registration Statement, and any amendments thereto (including post-effective
amendments), will have become effective;
(2) A Prospectus Supplement will have been prepared and filed with the Commission describing
the Units offered thereby;
(3) All Units will be issued and sold in compliance with applicable federal and state
securities laws and in the manner stated in the Registration Statement and the appropriate
Prospectus Supplement; and
(4) A definitive purchase, underwriting or similar agreement with respect to any Units offered
will have been duly authorized and validly executed and delivered by the Partnership and the other
parties thereto.
Based upon and subject to the foregoing, we are of the opinion that:
(1) With respect to the Units, when (i) the Partnership has taken all necessary action to
approve the issuance of such Units, the terms of the offering thereof and related matters and (ii)
the Units have been issued and delivered in accordance with the terms of the applicable definitive
purchase, underwriting or similar agreement approved by the Partnership upon payment of the
consideration thereof or provided for therein, then the Units will be validly issued, fully paid
and non-assessable.
(2) With respect to the Selling Unitholder Units, the Selling Unitholder Units have been duly
authorized and will, when sold as described in the Registration Statement, be validly issued, fully
paid and nonassessable.
The opinion expressed herein are qualified in the following respects:
(1) We have assumed, without independent verification, that the certificates for the
Units will conform to the specimens thereof examined by us and will have been duly
countersigned by a transfer agent and duly registered by a registrar of the Units.
(2) We have assumed that (i) each document submitted to us for review is accurate and
complete, each such document that is an original is authentic, each such document that is a
copy conforms to an authentic original and all signatures on each such document are genuine
and (ii) each certificate from governmental officials reviewed by us is accurate, complete
and authentic, and all official public records are accurate and complete.
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September 25, 2007 Page 3 |
(3) This opinion is limited in all respects to federal laws, the Delaware Revised
Uniform Limited Partnership Act and the Constitution of the State of Delaware, as
interpreted by the courts of the State of Delaware and of the United States.
We hereby consent to the references to this firm under the caption Legal Matters in the
Prospectus and to the filing of this opinion as an Exhibit to the Registration Statement. By giving
such consent, we do not admit that we are within the category of persons whose consent is required
under Section 7 of the Securities Act or the rules and regulations of the Securities and Exchange
Commission issued thereunder.
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Very truly yours,
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/s/ Vinson & Elkins L.L.P.
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