El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
16-Sep-1999
Tennessee Gas Pipeline Company Announces Eastern Express: New England ExpansionHouston, Texas, September 16, 1999-Tennessee Gas Pipeline Company, a business unit of El Paso Energy Corporation
(NYSEG:EPG), announced plans today to hold an Open Season for the Eastern Express: New
England Expansion.
Fueled by new supplies entering the northeastern region of the United States, the New
England Expansion is designed to provide firm transportation service to the developing
power generation sector in New England and the Mid-Atlantic region. Service under the
project is scheduled to begin in the fall of 2001.
"This project is another example of the type of scalable expansions Tennessee Gas
Pipeline can offer to support emerging supply and market opportunities," said John
Somerhalder, president of Tennessee Gas Pipeline. "The Eastern Express Project 2000
laid the groundwork for additional transportation options in New England. The New England
Expansion takes Eastern Express Project 2000 a step further by increasing the ability to
transport gas to new markets in New England and the Mid-Atlantic region."
The New England Expansion augments the Eastern Express Project 2000, which was filed
with the FERC on March 17, 1999. The Eastern Express Project 2000 will provide firm
transportation service from an interconnect at Dracut, Massachusetts with the Portland
Natural Gas Transmission System/Maritimes and Northeast Joint Pipeline to delivery points
in New England. The New England Expansion will provide additional transportation options
by expanding and upgrading Tennessee's infrastructure using existing rights-of-way
and facilities to minimize greenfield construction.
The non-binding Open Season for the New England Expansion will commence on September
16, 1999 and close on October 15, 1999 at 2:00 p.m. CST. Tennessee plans to discuss and
mutually agree upon rates as part of the precedent agreement negotiations to be held with
the parties participating in the Open Season.
Interested parties can obtain a detailed information package, which includes guidelines
and subscription forms, by contacting Rob Haas at (617) 790-5822, Tina Sciaraffa at (617)
342-3682, or by sending a faxed request to (617) 204-5787. Information will also be
available next week on the internet at www.tennesseeadvantage.com/neexpand/.
With over $10 billion in assets, El Paso Energy Corporation provides energy
solutions through its strategic business units: Tennessee Gas Pipeline Company,
El Paso Natural Gas Company, El Paso Field Services Company, El Paso Power
Services Company, El Paso Energy Marketing Company, and El Paso Energy
International Company. The company owns the nation's only integrated coast-to-coast
natural gas pipeline system and has operations in natural gas transmission, gas gathering
and processing, power generation, energy marketing, and international energy
infrastructure development. On June 10, the stockholders of both El Paso Energy and
Sonat Inc. overwhelmingly voted in favor of merging the two organizations. The merger is
expected to close in the third or fourth quarter of this year, concurrent with the
completion of regulatory reviews. Visit El Paso Energy's web site at
www.epenergy.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 companies have 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 companies make these statements and projections in good faith,
neither the companies nor their managements can guarantee that the anticipated future
results will be achieved. Reference should be made to the companies' (and their
affiliates') Securities and Exchange Commission filings for additional important
factors that may affect actual results. |