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    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001502553</cik>
        <entityName>ARCLIGHT ENERGY PARTNERS FUND V, L.P.</entityName>
        <issuerAddress>
            <street1>200 CLARENDON STREET</street1>
            <city>BOSTON</city>
            <stateOrCountry>MA</stateOrCountry>
            <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
            <zipCode>02117</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>617-867-9600</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>DANIEL</firstName>
                <middleName>R.</middleName>
                <lastName>REVERS</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>ROBB</firstName>
                <middleName>E.</middleName>
                <lastName>TURNER</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>CHRISTOPHER</firstName>
                <middleName>J.</middleName>
                <lastName>PICOTTE</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>CARTER</firstName>
                <middleName>A.</middleName>
                <lastName>WARD</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>MARK</firstName>
                <middleName>A.</middleName>
                <lastName>TARINI</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>JOHN</firstName>
                <middleName>A.</middleName>
                <lastName>TISDALE</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>KEVIN</firstName>
                <middleName>M.</middleName>
                <lastName>CROSBY</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>PATRICIA</firstName>
                <middleName>R.</middleName>
                <lastName>WINTON</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>ROBERT</firstName>
                <middleName>S.</middleName>
                <lastName>MCGAUGHEY</lastName>
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            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>THOMAS</firstName>
                <middleName>G.</middleName>
                <lastName>KILGORE</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>JOHN</firstName>
                <middleName>F.</middleName>
                <lastName>ERHARD</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>ERIC</firstName>
                <middleName>D.</middleName>
                <lastName>LAMMERS</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O ARCLIGHT CAPITAL PARTNERS, LLC</street1>
                <street2>200 CLARENDON STREET</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02117</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001136056-11-000189</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-09-30</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>BARCLAYS CAPITAL INC.</recipientName>
                <recipientCRDNumber>19714</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>200 PARK AVENUE</street1>
                    <city>NEW YORK</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10166</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MS</state>
                    <description>MISSISSIPPI</description>
                    <state>VA</state>
                    <description>VIRGINIA</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>AL</state>
                    <description>ALABAMA</description>
                    <state>UT</state>
                    <description>UTAH</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>NH</state>
                    <description>NEW HAMPSHIRE</description>
                    <state>HI</state>
                    <description>HAWAII</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>MADISON WILLIAMS AND COMPANY LLC</recipientName>
                <recipientCRDNumber>149530</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>527 MADISON AVENUE</street1>
                    <street2>14TH FLOOR</street2>
                    <city>NEW YORK</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10022</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>VT</state>
                    <description>VERMONT</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED</recipientName>
                <recipientCRDNumber>7691</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>ONE BRYANT PARK</street1>
                    <city>NEW YORK</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10036</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
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                    <description>NEW YORK</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>CITIGROUP GLOBAL MARKETS INC.</recipientName>
                <recipientCRDNumber>7059</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>390 - 388 GREENWICH STREET</street1>
                    <city>NEW YORK</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10013</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                    <state>SD</state>
                    <description>SOUTH DAKOTA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>2314286000</totalOfferingAmount>
            <totalAmountSold>2314286000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>216</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
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                <dollarAmount>27002720</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>ARCLIGHT ENERGY PARTNERS FUND V, L.P.</issuerName>
                <signatureName>JOHN A. TISDALE</signatureName>
                <nameOfSigner>JOHN A. TISDALE</nameOfSigner>
                <signatureTitle>GENERAL COUNSEL OF THE MANAGER OF THE GP OF THE ISSUER</signatureTitle>
                <signatureDate>2011-10-26</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>