Iroquois Announces Wright Transfer Compressor Project Open Season
SHELTON, Conn., Aug. 30 /PRNewswire/ -- Iroquois Gas Transmission System, L.P. ("Iroquois") has announced the commencement of a binding open season for its Wright Transfer Compressor (WTC) project which would add up to 15,400 horsepower of transfer compression at Iroquois' existing interconnection with Tennessee Gas Pipeline's 200 Line in Wright, New York.
As supplies on Tennessee have increased from Marcellus Shale and Atlantic LNG, Iroquois has received significant interest from shippers in making its Wright interconnect bi-directional. According to Scott Rupff, Vice President of Marketing, Development and Commercial Operations, "The WTC project would enable us to physically receive gas from Tennessee, further diversifying supply options for our customers, enhancing system reliability and reducing supply cost. The siting of this transfer facility adjacent to our existing compressor station brings added benefit as it will minimize the environmental and community impact and help streamline the permitting process."
WTC would compress up to 375 MDth/day from Tennessee into Iroquois at Iroquois' rate zone boundary, thereby enabling WTC shippers to supply both Zone 1 and Zone 2 markets on Iroquois. The project is targeted for service commencing Summer 2012. Any party interested in acquiring firm transportation capacity on the WTC project may express such interest during this open season. Results from the open season will determine the final design and scope of the project.
Bids will be accepted beginning Monday, August 30, 2010 through Friday, October 15, 2010, 5:00 PM EDT. Open season bid forms, and additional information on the WTC project, are available on Iroquois' website at www.iroquois.com.
Iroquois Gas Transmission System, L.P. is the owner of an interstate 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 going into operation in December 1991, Iroquois has more than doubled its design day throughput 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 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.
SOURCE Iroquois Gas Transmission System, L.P.