Iroquois Announces Wright Interconnect Project
SHELTON, Conn., Jan. 22, 2013 /PRNewswire/ -- Iroquois Gas Transmission System ("Iroquois"), in conjunction with Constitution Pipeline ("Constitution"), announced today that Iroquois will pursue development of the Wright Interconnect Project ("WIP"), an expansion of its existing compression and metering facilities in Wright, New York. WIP will enable delivery of up to 650,000 Dth/d of natural gas from the terminus of the proposed Constitution Pipeline in Schoharie County, NY into both Iroquois and the Tennessee Gas Pipeline under a 15 year capacity lease agreement with Constitution.
The proposed Constitution Pipeline is being developed to bring rapidly growing natural gas supplies from northeastern Pennsylvania to meet the energy needs of New York and New England - markets served by both Iroquois and Tennessee.
Leasing the WIP capacity from Iroquois will allow Constitution to eliminate their proposed compression facility, thereby reducing impact on the environment and the Wright, New York community. Iroquois' integration of the WIP design at its existing facility is expected to reduce potential emissions when compared to Constitution's previously proposed compression site.
According to Scott Rupff, Vice President of Marketing, Development and Commercial Operations, "WIP further diversifies supply options for our customers, enhances system reliability and reduces supply cost. The additional gas supply will help us support Governor Malloy's Comprehensive Energy Strategy in Connecticut and Governor Cuomo's Energy Highway initiative in New York. We look forward to working with Constitution to bring supplies from the burgeoning Marcellus shale basin to the Northeast."
WIP is targeted for an in-service date of March 2015 to coincide with the startup of the Constitution Pipeline.
Iroquois Gas Transmission System, L.P. is the owner of an interstate natural gas pipeline extending 416 miles from the US-Canadian border at Waddington, New York, 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 commencing operations in December 1991, Iroquois has more than doubled its design day capacity. 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, New Jersey Resources and Iberdrola USA.
About Constitution Pipeline Company, LLC
Constitution Pipeline Company, LLC is a proposed, approximately 120-mile interstate natural gas pipeline project designed to transport natural gas produced in northeastern Pennsylvania to existing transmission pipeline infrastructure located in Schoharie County, NY. For more information about the proposal, visit the company's website at www.constitutionpipeline.com.
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.
Scott Rupff, 203-925-7291
Todd White, 203-925-7284
SOURCE Iroquois Gas Transmission System, L.P.