Business Services Industry
Boardwalk to Begin Construction on Southeast Expansion
Business Wire, Oct 2, 2007
HOUSTON -- Boardwalk Pipeline Partners, LP (NYSE:BWP) announced today that on September 28, 2007, the Federal Energy Regulatory Commission (FERC) approved construction of the Southeast Expansion project.
The Southeast Expansion consists of 111 miles of 42-inch diameter pipeline having an initial capacity of approximately 1.2 billion cubic feet (Bcf) per day. The Southeast Expansion will extend from near Harrisville, Mississippi to an interconnect with Transcontinental Gas Pipe Line Corporation (Transco) in Choctaw County, Alabama (Transco Station 85), which will enhance Boardwalk's ability to deliver gas to the Northeast and Southeast through other pipeline interconnects. At various points along the pipeline route, Boardwalk will construct interconnects with Destin Pipeline Company, Tennessee Gas Pipeline Company, and other potential interstate and intrastate pipelines and storage facilities. Construction is expected to commence within the next 45 days once certain specific required environmental approvals are received. The in-service target date is during the first quarter 2008.
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Boardwalk Pipeline Partners, LP is a master limited partnership engaged through its subsidiaries, Texas Gas Transmission, LLC and Gulf South Pipeline Company, LP, in the interstate transportation and storage of natural gas. Boardwalk's two interstate natural gas pipeline systems have approximately 13,400 miles of pipeline and underground storage fields with aggregate working gas capacity of approximately 146 Bcf.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws relating to expectations, plans or prospects for Boardwalk and its subsidiaries, including those relating to whether or not the Company will successfully complete the Southeast Expansion, the cost and timing of any completed projects and the future financial performance of those assets. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the company's control and the risk factors and other cautionary statements discussed in Boardwalk's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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