El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
East Tennessee Natural Gas Announces Open Season for System Expansion Project
Houston, Texas, March 25, 1999-East Tennessee Natural Gas Company, a unit of
El Paso Energy Corporation (NYSE:EPG), announced today an open season for incremental
capacity along its mainline system located in Tennessee and Virginia. The proposed
expansion project would entail the construction of mainline pipeline, compression and
related facilities to meet the incremental capacity requirements requested in the open
season. Service is targeted to commence November 1, 2000.
This open season is a continuation of El Paso Energy's commitment to serve
the growth needs of the East Tennessee market. Since 1996, El Paso Energy has added
over 75,000 dekatherms per day of capacity to this growing market, an increase of over 10
percent of East Tennessee's total capacity.
This project will allow shippers on East Tennessee to take advantage of exciting
projects that have the ability to bring new sources of gas to the East Tennessee market.
Two recent developments include pipeline projects projected to bring an additional 2
billion cubic feet per day of western Canadian gas to the Chicago hub and the development
of Deepwater Gulf of Mexico production. Through the El Paso Energy pipelines, East
Tennessee shippers can directly connect to these new sources of supply as well as continue
to enjoy access to low-cost Gulf Coast and Texas supply basins.
Interested parties should send a written request for service to Bryan Neskora at El
Paso Energy, P.O. Box 2511, Houston, Texas 77252, FAX: (713) 420-2369, no later than 5 PM
CST, April 30, 1999. If you have any questions concerning how we can meet your specific
needs, please call Bryan Neskora at (713) 420-2655 or Bill Wickman at (423) 694-1677.
With over $10 billion in assets, El Paso Energy Corporation provides energy
solutions through five business units: Tennessee Gas Pipeline Company, El Paso
Natural Gas Company, El Paso Field 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
interstate natural gas transmission, gas gathering and processing, energy marketing, and
international infrastructure development.
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.