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UPDATE 1-Energy Transfer says transportation volumes up in Q2, capacity expanding

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(Adds details about expanded capacity)

NEW YORK, Aug 3 (Reuters) - Energy Transfer LP's oil and gas liquids volumes increased in the three months ended on June 30 as the company ramps up processing and transportation system capacity, executives of the pipeline and terminal operator said on its second-quarter earnings call on Wednesday.

Compared to the year-ago quarter, Energy Transfer's volumes of transported crude oil grew to 4.3 million barrels per day from 4 million, while natural gas liquids volumes rose to 1.9 million barrels per day from 1.7 million, and refined products were up to 526,000 barrels per day from 510,000, the company said.

Demand from Europe and Asia has helped fuel the growth, and demand should remain strong across its segments through the end of 2022, Energy Transfer Chief Executive Officer Thomas Long said.

Energy Transfer is expanding its processing gathering line capacity. This week, the company agreed to acquire Woodford Express, LLC, a Mid-Continent gas gathering and processing system, for about $485 million.

The deal, which is expected to close by the end of the third quarter of 2022, will create around 450 million cubic foot per day of cryogenic gas processing and treating capacity in Grady County, Oklahoma along with more than 200 miles of gathering lines.

The company also expects to expand its ethane export capabilities at both the Marcus Hook, Pennsylvania, and Nederland, Texas, terminals.

Additionally, on Energy Transfer's planned Lake Charles liquefied natural gas export facility in Lake Charles, the company said it had executed five LNG offtake agreements for the project and aims to reach a final investment decision on by the end of the year. (Reporting by Laila Kearney; Editing by Leslie Adler and David Gregorio)