Premature infants are exposed to a high lipid environment at earlier developmental stages than is normal, either via fat-rich breastmilk or by intravenous lipid emulsion parenteral nutrition (PN). Premature infants receiving PN sometimes develop pathologies, including PN-associated liver disease (PNALD), lipid embolism of the lung, and increased cardiac stiffness. We studied physiological responses to Intralipid 20® and lipid disposition in the fetal blood, liver, lung, heart, and placenta in fetal sheep at 85-90% of gestation (equivalent to 36 weeks in humans), eliminating confounding factors associated with preterm birth.