SOURCE: El Paso Corporation

El Paso Corporation

November 01, 2011 12:00 ET

Tennessee Gas Pipeline Places 300 Line Project in Service

HOUSTON, TX--(Marketwire - Nov 1, 2011) - El Paso Corporation (NYSE: EP) today announced that its wholly owned subsidiary, Tennessee Gas Pipeline Company, L.L.C. (TGP), has placed its 300 Line Project in service, marking the completion of one of the largest natural gas infrastructure projects currently under way in the Northeast United States.

The upgrade provides access to both new and existing natural gas supplies and increases capacity on the TGP system by 350,000 dekatherms per day (Dth/d). Cost of the project was about $0.7 billion. All of the project capacity is contracted under a long-term firm transportation agreement with EQT Energy, LLC.

"The 300 Line Project provides significant new capacity to safely and reliably ship natural gas from prolific natural gas basins along TGP to markets in the Northeast," said Norman G. Holmes, president of TGP and Southern Natural Gas Company, L.L.C. "The TGP system is a key conduit for Marcellus Shale gas and other diverse supplies into Northeast and New England markets. TGP is investing about $1.3 billion in four new Northeast projects that will increase capacity on the TGP system by an additional 1.5 Bcf/d, primarily from the Marcellus Shale. The 300 Line Project is the first of these, and plans call for the others to be placed in service in 2012 and 2013, subject to receipt of regulatory approvals."

The 300 Line Project included the installation of eight looping segments in Pennsylvania and New Jersey, totaling approximately 127 miles of 30-inch diameter pipeline, and the addition of approximately 55,000 horsepower through the installation of two new compressor stations and upgrades at seven existing compressor stations.

The project provides access to diversified natural gas supplies from Gulf Coast, Appalachian, Rockies, and Marcellus Shale supply areas, and gas deliveries to points along the 300 Line path and into various interconnections with other pipelines in northern New Jersey, as well as an existing delivery point in White Plains, New York.

El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company owns North America's largest interstate natural gas pipeline system, one of North America's largest independent oil and natural gas producers and an emerging midstream business. El Paso owns a 42 percent limited partner interest, and the 2 percent general partner interest in El Paso Pipeline Partners, L.P. For more information, visit www.elpaso.com.

Cautionary Statement Regarding Forward-Looking Statements

This release includes certain forward-looking statements and projections. 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 uncertainties associated with obtaining necessary governmental approvals, construction risks and the risk of defaults by our customers; 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.

Contact Information

  • Contacts:

    Investor-Media Relations
    Bruce L. Connery
    Vice President
    (713) 420-5855

    Media Relations
    Gretchen Krueger
    (713) 420-7298