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Energy Transfer Partners, L.P.
 
 Underwriting Agreement
 December 12, 2007




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Underwriting Agreement
 December 12, 2007
 as Managing Underwriter
 
  Partnership Firm Units Units Schedule A Underwriters Representatives Section 1 Additional Units Offered Units General
Partner TP LLC ETP Entities
 Act Commission registration
statement Exchange Act
 Registration Statement Effective Time




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Offering Pre-Pricing Prospectus Basic Prospectus
 Prospectus Supplement
 Prospectus
 Permitted Free Writing Prospectuses Schedule B
 Disclosure Package
 Incorporated
Documents amend amendment supplement
 - 2 -




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Agreement business day NYSE
  Sale and Purchase Schedule A Section 11
 Over-Allotment Option additional time of purchase provided however
 - 3 -




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Schedule A Section 11
 Payment and Delivery DTC Section 11 time of purchase
  Section 9
 Representations and Warranties of the Partnership
 The Registration Statement
 Compliance with the Act
 - 4 -




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provided however Section 3(b)
 - 5 -




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Prospectuses Used in the Offering
 Capitalization
 - 6 -




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Partnership Agreement Delaware LP Act NYSE
 Formation and Qualification of the ETP Entities
 Foreign Qualification and Registration
 - 7 -




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Material Adverse Effect Schedule B
 Ownership of the General Partner Interest in the Partnership GP Interest
 Ownership of Certain Partnership Interests in the Partnership Existing Units ETE ETE Credit Agreement
 Valid Issuance of Existing Units
 Ownership of ETP LLC Delaware LLC
Act
 Ownership of the General Partner
 - 8 -




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Subsidiaries Subsidiaries Schedule D
 Authority and Authorization
 Conformity to Description of Partnership Units
 - 9 -




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Authorization, Execution and Delivery of this Agreement
 No Conflicts or Violations; No Default clauses (B) (C) (D) (E)
 - 10 -




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No Consents Regarding the Offering Consent FINRA
 No Preemptive Rights, Registration Rights, Options or Other Rights
 Permits Permit
 - 11 -




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Descriptions; Exhibits
 Litigation
 Independent Registered Public Accounting Firms PCAOB
 - 12 -




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Financial Statements
 No Material Adverse Change
 Lock-Up Agreements Lock-Up Agreement Exhibit A Exhibit A-1
 Investment Company
 - 13 -




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Investment Company Act
 Title to Properties
 Intellectual Property
 Labor and Employment
 - 14 -




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Environmental Compliance Environmental Laws Proceedings
 Tax Returns
 Insurance
 - 15 -




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No Business Interruptions
 Non-Renewal of Agreements; No Third-Party Defaults
 Internal Controls
 Disclosure Controls
 - 16 -




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Sarbanes-Oxley Act
 Related Party Transactions
 Forward-Looking Statements
 Statistical and Market-Related Data
 - 17 -




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No Prohibition on Distributions
 No Preferred Securities
 NYSE Compliance
 No Brokers Fees
 No Stabilizing Transactions
 FINRA Affiliations
 No Distribution of Other Offering Materials
 - 18 -




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Money Laundering Laws Money
Laundering Laws
 OFAC OFAC
  [Intentionally Omitted]
 Certain Covenants of the Partnership
 Blue Sky Qualification provided however
 Copies of Prospectus
 - 19 -




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Effectiveness of Registration Statement
 Compliance With the Act
 Effectiveness of Shelf Registration Statement
 -20-




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Filing of Amendments or Supplements
 Exchange Act Reports Section 5(f)
 Misstatements and Omissions
 -21-




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Section 5(f)
 Earnings Information
 Annual Report
 Copies of the Registration Statement
 Interim Financial Statements Section 9(f)
 Copies of Other Documents
 -22-




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Rule 433(g) Records Retention Compliance
 Lock-Ups Lock-Up Period
 Press Releases and Other Communications
 Distribution of Prospectuses
 -23-




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No Stabilization
 Transfer Agent
 Lock-Up Agreements and Restrictions Exhibit A-1 Lock-Up Agreement Exhibit A
 [Intentionally Omitted]
 Covenant to Pay Costs
 -24-




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Reimbursement of Underwriters Expenses Section 11 Section 7
 Conditions of Underwriters Obligations
 Exhibit B
 Exhibit C
  -25-




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-26-




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Exhibit D
 Section 3(y)
   Effective Date of Agreement; Termination
  -27-




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Section
10
 Section 7 Section 8 Section 12 Section 12
 Increase in Underwriters Commitments Section 9 Section 10 Section 9 Section 10 Section 1 Schedule A
   -28-




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Section 11 Schedule A
  Indemnity and Contribution
 Section 12
 -29-




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Proceeding indemnified party indemnifying party subsection (a) (b) Section 12
 -30-




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provided however Section 12(c)
 Section 12 subsections (a) (b) Section 12
 -31-




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clause (i) clause (i)
 Section 12 subsection (d) Section 12 Section 12
 Section 12
 - 32 -




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Information Furnished by the Underwriters Section 3 Section 4 Section 12
 Notices
 Governing Law; Construction Claim
 Submission to Jurisdiction
 - 33 -




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Parties at Interest Section
12
 No Fiduciary Relationship
 Counterparts
 Successors and Assigns
 - 34 -




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Miscellaneous
 The Remainder of This Page Intentionally Left Blank; Signature Page Follows
 - 35 -




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Very truly yours,Energy Transfer Partners, L.P.By:
    
    
    
    Energy Transfer Partners GP, L.P.,its general partnerBy:
    
    
    
    Energy Transfer Partners, L.L.C.,its general partnerBy:
    
    
    
    /s/ Brian J. JenningsName:
    
    Brian J. JenningsTitle:
    
    Chief Financial Officer




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Schedule
A
 UBS Securities LLCBy:
    
    /s/ Michael R. JamiesonName: Michael R. JamiesonTitle: Managing DirectorBy:
    
    /s/ Kenneth OwenName: Kenneth OwenTitle: Associate DirectorCitigroup Global Markets Inc.By:
    
    /s/ Michael CaseyName: Michael CaseyTitle: Vice PresidentWachovia Capital Markets, LLCBy:
    
    /s/ Lear BeyerName: Lear BeyerTitle: Managing Director
          Wachovia Capital Markets, LLC




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SCHEDULE A
 Number ofUnderwriter
    
    Firm UnitsUBS SECURITIES LLC
    
    
    1,100,000CITIGROUP GLOBAL MARKETS INC
    
    
    1,100,000WACHOVIA CAPITAL MARKETS, LLC
    
    
    1,100,000CREDIT SUISSE SECURITIES (USA) LLC
    
    
    300,000DEUTSCHE BANK SECURITIES INC
    
    
    300,000LEHMAN BROTHERS INC
    
    
    300,000MORGAN STANLEY & CO. INCORPORATED.
    
    
    300,000MORGAN KEEGAN & COMPANY, INC
    
    
    125,000RAYMOND JAMES & ASSOCIATES, INC
    
    
    125,000RBC CAPITAL MARKETS CORPORATION
    
    
    125,000SMH CAPITAL INC
    
    
    125,000Total
    
    
    5,000,000




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SCHEDULE B
 Permitted Free Writing Prospectuses




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SCHEDULE C
 Jurisdictions of Foreign Qualification or Registration
 Jurisdictions of ForeignETP Entities
    
    Jurisdiction of Formation
    
    Qualifications or RegistrationEnergy Transfer Partners, L.L.C.
    
    Delaware
    
    Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois,
Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Mississippi,
Montana, Nevada, New Hampshire, New Jersey, New Mexico,
New York, North Carolina, Oregon, Pennsylvania, South Carolina, South
Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, WyomingEnergy Transfer Partners GP,
L.P.
    
    Delaware
    
    Alabama, Arizona,
California,
Colorado, Florida,
Georgia, Illinois,
Indiana, Kentucky,
Maryland,
Massachusetts,
Michigan,
Minnesota,
Mississippi,
Montana, Nevada,
New Hampshire, New
Jersey, New Mexico,
New York, North
Carolina, Oklahoma,
Oregon,
Pennsylvania, South
Carolina, South
Dakota, Tennessee,
Texas, Utah,
Vermont, Virginia,
Washington, and
WyomingEnergy Transfer Partners, L.P.
    
    Delaware
    
    Oklahoma, Louisiana, New York




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SCHEDULE D
 Material Subsidiaries
 La Grange Acquisition, L.P.
    
    TexasHeritage Operating, L.P.
    
    DelawareHeritage ETC, L.P.
    
    DelawareEnergy Transfer Interstate Holdings, LLC
    
    DelawareTitan Energy GP, L.L.C.
    
    DelawareTitan Energy Partners, L.P.
    
    DelawareTranswestern Pipeline Company, LLC
    
    DelawareETC Texas Pipeline, Ltd.
    
    TexasOasis Pipe Line Company Texas L.P.
    
    TexasEnergy Transfer Fuel, LP
    
    DelawareHPL Houston Pipe Line Company, LLC
    
    DelawareE T Fuel Pipeline, L.P.
    
    Delaware




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EXHIBIT A
 Lock-Up Agreement
  Schedule A
 
  Underwriting Agreement Partnership Schedule A Offering Units Partnership Units
 Lock-Up Period Representatives Commission Exchange Act




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A-2




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Yours very truly,Name: A-3




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EXHIBIT A-1
  Name
    
    PositionEnergy Transfer Equity, L.P.Kelcy L. Warren
    
    Chief Executive Officer and Chairman of the
Board of DirectorsMackie McCrea
    
    President  MidstreamR.C. Mills
    
    President  PropaneBrian J. Jennings
    
    Chief Financial OfficerJerry J. Langdon
    
    Chief Administrative and Compliance OfficerThomas P. Mason
    
    General Counsel and SecretaryRay C. Davis
    
    DirectorBill W. Byrne
    
    DirectorDavid R. Albin
    
    DirectorKenneth A. Hersh
    
    DirectorPaul E. Glaske
    
    DirectorK. Rick Turner
    
    DirectorTed Collins, Jr.
    
    DirectorJohn W. McReynolds
    
    DirectorMichael Grimm
    
    DirectorJohn D. Harkey, Jr.
    
    Director




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EXHIBIT B
   GP Interest Incentive Distribution Rights Liens




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Agreements and
Instruments
 B-2




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provided however
    paragraphs (l) and (m)
 B-3




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ANNEX I
 Entity
    
    Jurisdiction in which registeredEnergy Transfer Partners, L.L.C.
    
    DelawareEnergy Transfer Partners GP, L.P.
    
    DelawareEnergy Transfer Partners, L.P.
    
    Delaware
 B-4




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EXHIBIT C
  Existing Units
    ETE Liens ETE Credit Agreement




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LA GP
 C-2




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C-3




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C-4




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Annex I
 Jurisdictions of ForeignETP Entities
    
    Jurisdiction of Formation
    
    Qualifications or RegistrationEnergy Transfer Partners, L.L.C.
    
    Delaware
    
    Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho,
Illinois, Kentucky, Maryland, Massachusetts, Michigan, Minnesota,
Mississippi, Montana, Nevada, New Hampshire, New Jersey, New Mexico,
New York, North Carolina, Oklahoma, Oregon, Pennsylvania, South
Carolina, South Dakota, Tennessee,Texas, Utah,Vermont, Virginia,
Washington, WyomingEnergy Transfer Partners GP, L.P.
    
    Delaware
    
    Alabama, Arizona, California, Colorado, Florida,Georgia, Illinois,
Indiana, Kentucky, Maryland, Massachusetts, Michigan, Minnesota,
Mississippi, Montana, Nevada, New Hampshire, New Jersey, New Mexico,
New York, North Carolina, Oklahoma, Oregon, Pennsylvania, South
Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia,
Washington, and WyomingEnergy Transfer Partners, L.P.
    
    Delaware
    
    Oklahoma, Louisiana, New York (registered under ETP Partners LP)
 C-5




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Annex II
 Material Subsidiaries
 La Grange Acquisition, L.P.
    
    TexasHeritage Operating, L.P.
    
    DelawareHeritage ETC, L.P.
    
    DelawareEnergy Transfer Interstate Holdings, LLC
    
    DelawareTitan Energy GP, L.L.C.
    
    DelawareTitan Energy Partners, L.P.
    
    DelawareTranswestern Pipeline Company, LLC
    
    DelawareETC Texas Pipeline, Ltd.
    
    TexasOasis Pipe Line Company Texas L.P.
    
    TexasEnergy Transfer Fuel, LP
    
    DelawareHPL Houston Pipe Line Company, LLC
    
    DelawareE T Fuel Pipeline, L.P.
    
    Delaware
 C-6




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EXHIBIT D
  Partnership Section 9(h) Underwriting Agreement
 1.
    
    He has reviewed the Registration Statement, the Basic Prospectus, the Pre-Pricing Prospectus,
the Prospectus and each Permitted Free Writing Prospectus.
 2.
    
    The representations and warranties of the Partnership as set forth in the Underwriting
Agreement are true and correct as of the date hereof and as if made on the date hereof.
 3.
    
    The Partnership has performed all of its obligations under the Underwriting Agreement as are
to be performed at or before the date hereof.
 4.
    
    The conditions set forth in paragraphs (g) and (i) of Section 9 of
the Underwriting Agreement have been met.
 5.
    
    The financial statements and other financial information included in the Registration
Statement, the Basic Prospectus or the Prospectus fairly present the financial condition,
results of operations and cash flows of the Partnership and the Subsidiaries as of and for the
periods therein presented.
  In Witness Whereof,
 Name: Kelcy L. Warren
Title: Chief Executive OfficerName: Brian J. Jennings
Title: Chief Financial Officer