HOUSTON, TEXAS, May 14, 2001—Tennessee Gas Pipeline Company, a subsidiary of El Paso Corporation (NYSE:EPG), announced today an open season for its Northeast ConneXion Project, which will involve expanding both storage and pipeline capacity in the company's Northeast markets. The non-binding open season will begin May 14, 2001 and conclude May 31, 2001.

The project includes two primary components-an expansion of Tennessee's market area storage in Pennsylvania and an expansion of its downstream pipeline capacity from this storage area to the New York City joint facilities and to growing markets in Pennsylvania and New Jersey. Tennessee will use its existing corridor to link these areas with the Ellisburg-Leidy hub. The storage expansion of up to 5 billion cubic feet could provide as much as 300,000 dekatherms per day (Dth/d) of incremental deliverability and will serve as the base load for the pipeline expansion. The project will offer access to natural gas supplies from the Gulf Coast region, Western Canada, and regional storage facilities, including the Stagecoach storage field currently under construction. Final project scope will be determined following analysis of the open season results and execution of binding contracts with potential customers, which include local distribution companies, power generators, marketers, and industrial shippers.

"The Northeast ConneXion Project is our answer to the market's call for increased access to Gulf Coast natural gas supplies and additional storage service to meet the growing demand in the New York region," said Stephen C. Beasley, president of Tennessee Gas Pipeline Company. "The compelling combination of Tennessee's supply and market access with the additional storage and pipeline capacity offered in this open season clearly differentiates this project from the competition. Both new and existing shippers will benefit from it."

Interested shippers are encouraged to contact Bob Bookstaber at (713) 420-3158, or Joe Wyzik at (713) 420-4258 to obtain additional information and the open season participation form.

El Paso Corporation, the largest and most broadly based natural gas company in the world, spans the energy value chain from wellhead to electron. With an enterprise value in excess of $50 billion, El Paso is a leader in every phase of the natural gas industry. The company owns and operates a significant portion of the North American natural gas delivery grid, operates the fastest growing, most sophisticated energy merchant group, and is the nation's third largest natural gas producer. El Paso, a leader in risk management techniques, is focused on maximizing shareholder value, transforming existing markets, and speeding the development of new markets. Visit El Paso at 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. 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.