…products, including ethane, propane, and butane, and is on track to be completed by the end of 2024. At Marcus Hook, we have completed the construction of additional storage tanks, increasing our storage capacity by 2 million barrels. We continue to see strong demand for ethane exports out of Marcus Hook, with approximately 7 million barrels loaded during the first quarter.
In our Midstream segment, we are progressing with the construction of the Whistler Pipeline, a joint venture with DCP Midstream and MPLX. The pipeline will transport natural gas from the Permian Basin to the Agua Dulce hub near Corpus Christi, Texas, and is expected to be in service by the end of 2024. We are also advancing the construction of the Permian Express 4 pipeline, which will transport crude oil from the Permian Basin to the Gulf Coast. This pipeline is expected to be in service by the end of 2025.
In conclusion, Energy Transfer had a strong first quarter, with record volumes in our Crude Oil and NGL segments driving solid financial results. We continue to focus on executing our growth projects and optimizing our existing assets to drive value for our unitholders. We remain committed to maintaining a strong balance sheet and delivering sustainable distributions to our unitholders.
With that, I\’ll turn it back to the operator to open the line for questions. Thank you.
Questions and Answers:
Operator
[Operator instructions] Your first question comes from the line of Brian Singer with Goldman Sachs.
Brian Singer — Goldman Sachs — Analyst
Thank you. Good afternoon. Could you provide some color on the impact of the recent geopolitical events on your business, specifically in relation to your NGL and Crude Oil segments? And how are you managing any potential disruptions to your operations?
Tom Long — Co-Chief Executive Officer and Chief Financial Officer
Thank you for the question, Brian. We are monitoring the situation closely and are in constant communication with our operations team to ensure the safety and security of our assets. At this time, we have not experienced any significant disruptions to our operations. We have contingency plans in place to mitigate any potential impacts, and we are working closely with our customers to address any concerns they may have. Overall, we believe we are well-positioned to navigate any challenges that may arise.
Brian Singer — Goldman Sachs — Analyst
Great, thank you for that insight. And just a follow-up on your growth projects, specifically the Whistler Pipeline and Permian Express 4. Can you provide an update on the progress of these projects and any potential impact on your financial results once they are in service?
Tom Long — Co-Chief Executive Officer and Chief Financial Officer
Certainly, Brian. The Whistler Pipeline and Permian Express 4 are key growth projects for Energy Transfer, and we are making good progress on their construction. The Whistler Pipeline is expected to provide additional takeaway capacity for natural gas out of the Permian Basin, which will help alleviate bottlenecks and improve pricing for producers in the region. Once in service, we expect the Whistler Pipeline to contribute positively to our financial results. Similarly, the Permian Express 4 pipeline will provide additional crude oil transportation capacity from the Permian Basin to the Gulf Coast, further enhancing our ability to serve our customers and capture value from growing production in the region. We are excited about the potential of these projects and the positive impact they will have on our business once they are operational.
Brian Singer — Goldman Sachs — Analyst
Great, thank you for that update. That\’s all from me.
Operator
Thank you. [Operator instructions] Your next question comes from the line of Sarah Akers with J.P. Morgan.
Sarah Akers — J.P. Morgan — Analyst
Hi, thank you for taking my question. I wanted to ask about your capital allocation priorities. Given your strong financial performance, how are you thinking about balancing investments in growth projects, debt reduction, and distributions to unitholders?
Tom Long — Co-Chief Executive Officer and Chief Financial Officer
Thank you for the question, Sarah. Our capital allocation priorities remain focused on maintaining a strong balance sheet, investing in growth projects that will drive value for our unitholders, and delivering sustainable distributions. We are committed to disciplined capital allocation and will continue to evaluate opportunities to optimize our portfolio and maximize returns for our unitholders. We believe that our current financial performance provides us with the flexibility to pursue growth opportunities while also reducing debt and returning capital to our unitholders through distributions. We will continue to assess our capital allocation priorities and make decisions that are in the best interest of our unitholders.
Sarah Akers — J.P. Morgan — Analyst
Great, thank you for that overview. And just a follow-up on your debt reduction efforts. Can you provide any additional details on your plans to reduce debt and improve your credit profile?
Tom Long — Co-Chief Executive Officer and Chief Financial Officer
Certainly, Sarah. Debt reduction remains a key focus for Energy Transfer, and we are committed to improving our credit profile and maintaining a strong balance sheet. In addition to the redemption of our preferred units and the senior notes that we completed in the first quarter, we will continue to evaluate opportunities to reduce debt and improve our financial flexibility. We are confident in our ability to execute on our debt reduction strategy and believe that it will further strengthen our financial position and support our long-term growth objectives.
Sarah Akers — J.P. Morgan — Analyst
Great, thank you for that update. That\’s all from me.
Operator
Thank you. At this time, I would like to turn the call back over to Tom Long for any closing remarks.
Tom Long — Co-Chief Executive Officer and Chief Financial Officer
Thank you all for joining us today. We appreciate your interest in Energy Transfer and look forward to updating you on our progress in the coming months. If you have any further questions, please don\’t hesitate to reach out to our investor relations team. Thank you, and have a great day.
Operator
[Operator signoff]