Iroquois Announces MetroExpress ('MetEx') Open Season
SHELTON, Conn., Jan. 21 /PRNewswire/ -- Iroquois Gas Transmission System, L.P. ("Iroquois") announced today the commencement of an Open Season for its MetroExpress Expansion Project. The Open Season begins January 21, 2008 and extends to February 29, 2008 for service commencing as early as November 1, 2010. Any party interested in acquiring incremental annual firm transportation capacity on Iroquois' existing mainline or on new laterals necessary to connect developing markets may express such interest during this Open Season. "Iroquois' existing energy corridor and direct connections to southwestern Connecticut, Long Island, and New York City strategically positions us to be the final transportation link for emerging Rockies' Mid Continent supplies from the west, as well as LNG from developing terminals in the northeast Atlantic and along the St. Lawrence River," said Scott Rupff, Iroquois' Vice President of Marketing, Development and Commercial Operations. "Furthermore, our existing Hunts Point meter station in the Bronx and Long Island Sound Crossing distinguishes Iroquois as the only pipeline in the northeast that can deliver an additional 300,000 Dt/day through its greater New York City infrastructure, thus lowering the necessary threshold volume to build and reducing the impact of construction on the environment," continued Mr. Rupff. As natural gas pipeline infrastructure continues to be developed bringing Rockies supplies to the doorstep of the northeast, Iroquois is well positioned to deliver these new supplies to Connecticut and New York from either its existing interconnect with TransCanada Pipelines at Waddington, NY or the proposed Pleasant Valley, NY interconnect with Tennessee Gas Pipeline's Northeast Passage Project. Iroquois also offers Atlantic LNG supply direct access to these major northeast markets via its Brookfield, CT interconnect with Algonquin Gas Transmission's proposed E2W Project. These developing sources of natural gas will add to the current supply options of Western Canada, Chicago, Dawn, and Michigan storage that Iroquois already delivers to the marketplace. For more information on MetEx, please visit the Iroquois website at www.iroquois.com. About Iroquois Iroquois Gas Transmission System, L.P. is the owner of an interstate pipeline extending 411 miles from the US-Canadian border at Waddington, NY, through the state of Connecticut to South Commack, Long Island, NY and Hunts Point, Bronx, NY. The company is regulated by the Federal Energy Regulatory Commission ("FERC"). Since going into operation in December 1991, Iroquois has more than doubled its design day throughput capacity which will increase to 1.45 Bcf/d following the completion of the 08/09 Expansion Project. The pipeline is operated by the Iroquois Pipeline Operating Company, a wholly owned subsidiary of Iroquois. Iroquois is a Limited Partnership owned by affiliates of TransCanada PipeLines Limited, Dominion Resources, Inc., National Grid U.S., New Jersey Resources Corp. and Energy East Corp. Forward-Looking Statement Disclaimer This press release contains various forward-looking statements. Such forward-looking statements are based on current expectations, are not guarantees of future performance and include assumptions about future market conditions, operations and results. Iroquois can give no assurance that such expectations will be achieved. Among the many factors that could cause actual results to differ materially from those in the forward-looking statements herein are: future demand and prices for natural gas; availability of supplies of natural gas; regulatory, political, legislative and judicial developments, particularly with regard to regulation by the Federal Energy Regulatory Commission; the timing and cost of Iroquois' expansion projects; competitive conditions in the marketplace; changes in the receptivity of the financial markets to Iroquois or other oil and gas credits similar to Iroquois and, accordingly, our strategy for financing any such change in business strategy or expansion. CONTACT: Scott Rupff, 203-925-7291 Todd White, 203-925-7284
SOURCE Iroquois Gas Transmission System, L.P.
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