El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
27-Jun-2005
El Paso Natural Gas Company Announces Status of Pipeline Project HOUSTON, June 27 /PRNewswire-FirstCall/ -- El Paso Natural Gas Company, a
wholly owned subsidiary of El Paso Corporation (NYSE: EP), announced today
that it has received certificate approval from the Federal Energy Regulatory
Commission for its Line 1903 Project, an 88-mile, 502 million-cubic-foot-per-
day pipeline extending from Ehrenberg, Arizona to Cadiz, California. Line
1903, which was acquired in March 2000, was previously used to transport crude
oil and will be converted to a natural gas pipeline. The approximately $74-million project
also includes the construction of a new six-mile pipeline that will connect
the converted Line 1903 pipeline to El Paso's Mojave Pipeline Company
facilities near Cadiz. The project is scheduled to be in service by late
2005. Construction and conversion will begin as soon as El Paso receives
approval from California's State Land Commission and the U.S. Department of
the Interior's Bureau of Land Management.
"Our Line 1903 project demonstrates our commitment to provide superior
service to our customers," said James Cleary, president of El Paso's Western
Pipeline Group. "In addition to providing additional access to abundant Rocky
Mountain and San Juan Basin gas supplies, this project will increase the firm
transportation capacity available to our customers in California and Arizona."
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
http://www.elpaso.com .
Cautionary Statement Regarding Forward-Looking Statements
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, the ability to implement and achieve our
objectives in the long-range plan, including achieving our debt-reduction
targets; our ability to obtain necessary governmental approvals for this
project and our ability to successfully construct and operate such project;
changes in commodity prices for oil, natural gas, and power; general economic
and weather 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; 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.
SOURCE El Paso Corporation
06/27/2005
CONTACT:
Investor and Public Relations:
Bruce L. Connery, Vice
President, 1-713-420-5855
or
Media Relations:
Aaron Woods, Manager,
1-713-420-6828
Web site: http://www.elpaso.com
8263 06/27/2005 09:53 EDT http://www.prnewswire.com
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