Zacks Equity Research reports that construction has begun on the Fayetteville Express Pipeline (FEP), a 50/50 joint venture between Energy Transfer Partners L.P. and Kinder Morgan Energy Partners L.P. With an initial capacity to transport up to 2 billion cubic feet per day (Bcf/d) of natural gas, the pipeline will serve the Fayetteville Shale-producing region in Arkansas. This is a 42-inch, approximately 185-mile pipeline. Energy Transfer Partners is the operator of this pipeline and will manage the construction program. Total project cost is anticipated at $1.25 billion. FEP will start off in Conway County, Arkansas, continue eastward through White County, Arkansas, and terminate at an interconnection with Trunkline Gas Company in Panola County, Mississippi. The pipeline will be operative by the end of this year.