El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
8-Mar-2005
Tennessee Gas Pipeline Company Announces Line 100/Carthage Lateral Expansion ProjectHOUSTON, TEXAS, March 8, 2005—Tennessee Gas
Pipeline Company, a subsidiary of El Paso Corporation (NYSE:EP), announced today
a non-binding open season for its new Line 100/Carthage Lateral Expansion project.
This expansion is designed to provide incremental capacity on Tennessee's
Carthage Lateral in Texas as well as provide additional access to supplies from
Texas and northern Louisiana through Tennessee's Line 100. The open season
began today, March 8, 2005, and will end on March 31, 2005.
Tennessee's Carthage Lateral in Panola County, Texas, and DeSoto Parish,
Louisiana, is operating at maximum capacity and Tennessee has received a number
of inquiries about its ability to expand the capacity of this lateral. In addition,
the portion of Tennessee's Line 100 that runs through Texas and northern
Louisiana is fully subscribed and experiencing high-customer utilization. The
proposed Line 100/Carthage Lateral Expansion project will provide Carthage area
suppliers as well as suppliers in Texas and northern Louisiana with the ability
to move additional volumes into the growing markets served by Tennessee. The
final scope of this project depends upon the customer response to this open
season. The Line100/Carthage Lateral Expansion project is anticipated to commence
service in the second quarter of 2006.
"We're pleased to add another supply-driven project to our expanding
portfolio of system expansions," said Stephen C. Beasley, president of
El Paso's Eastern Pipeline Group. "Basins in east Texas and north
Louisiana are rapidly emerging as important supply sources. Our Line 100/Carthage
Lateral expansion will help our customers access these growing supply areas
and connect the production in these basins with the premier markets across Tennessee's
system."
For more information or to request an open season packet, please contact either
of the parties listed below:
Preston Troutman
Phone: 713-420-3022
Email: Preston.Troutman@ElPaso.com
Andy Levine
Phone: 713-420-2699
Email: Andy.Levine@ElPaso.com
El Paso Corporation provides natural gas and related energy products in a safe,
efficient, and dependable manner. The company owns North America's largest
natural gas pipeline system and one of North America's largest independent
natural gas producers. For more information, visit www.elpaso.com.
This release includes forward-looking statements and projections, made
in reliance on the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The company has made every reasonable effort to ensure that
the information and assumptions on which these statements and projections are
based are current, reasonable, and complete. However, a variety of factors could
cause actual results to differ materially from the projections, anticipated
results or other expectations expressed in this release, including, without
limitation, our ability to successfully construct and operate the proposed pipeline
facilities described in this release; general economic conditions in geographic
regions or markets served by El Paso Corporation and its affiliates, or where
operations of the company and its affiliates are located; the uncertainties
associated with governmental regulation, including receipt of governmental approvals
to construct expansion projects; competition, and other factors described in
the company's (and its affiliates') Securities and Exchange Commission filings.
While the company makes these statements and projections in good faith, neither
the company nor its management can guarantee that anticipated future results
will be achieved. Reference must be made to those filings for additional important
factors that may affect actual results. The company assumes no obligation to
publicly update or revise any forward-looking statements made herein or any
other forward-looking statements made by the company, whether as a result of
new information, future events, or otherwise.
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