El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
Federal Energy Regulatory Commission Approves Tennessee Gas Pipeline/Distrigas Project
HOUSTON, TEXAS, July 3, 1997-Tennessee Gas Pipeline Company, a business unit of
El Paso Energy Corporation (NYSE:EPG), announced that the Federal Energy Regulatory
Commission (FERC) has approved a $24 million, 7.5 mile pipeline project that will provide
a new supply of gas to the New England region. The project, proposed by Tennessee Gas
Pipeline Company last year, will connect Distrigas of Massachusetts' Everett-based
facility to Tennessee's existing pipeline system.
The FERC decision, issued on June 25, outlines a set of environmental and construction
mitigation measures that will ensure minimal impact to communities along the pipeline
route including Everett, Malden, Revere and Saugus.
"We are pleased with the Commission's decision and look forward to working with
officials, citizens, and neighborhood groups from each of the municipalities along the
project route. Tennessee Gas Pipeline Company is fully committed to safety and the
environment," said John W. Somerhalder II, president of Tennessee Gas Pipeline
Jane Michalek, vice president for Distrigas of Massachusetts, said, "We have been
supplying natural gas to New England since 1971. This project will enable us to supply
additional, much needed energy to satisfy our customers throughout our area. Our
commitment to providing safe, environmentally friendly energy will play an important part
in our region's future."
The project is expected to be in service by November 1998.
El Paso Energy Corporation provides total energy solutions through five business
units: El Paso Natural Gas Company, Tennessee Gas Pipeline Company, El Paso Field
Services Company, El Paso Energy Marketing Company and El Paso Energy
International Company. With offices worldwide, the company has operations in interstate
natural gas transmission, gas gathering and processing, energy marketing, and
international energy infrastructure development.
Distrigas of Massachusetts Corporation (DOMAC), a subsidiary of Cabot LNG Corporation and
Cabot Corporation (NYSE:CBT), imports and distributes liquefied natural gas (LNG) through
its marine terminal in Everett, MA to meet the specialized needs of gas and electric
utilities, independent power producers, energy marketers and industry throughout the
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. While the company makes these statements and projections in
good faith, neither the company nor its management can guarantee that the anticipated
future results will be achieved. Reference should be made to the company's (and its
affiliates') Securities and Exchange Commission filings for additional important
factors that may affect actual results.