eCORP Announces New York Natural Gas Pipeline Project

Apr 18, 2001, 01:00 ET from eCORP Holding, LLC

    NEW YORK, April 18 /PRNewswire/ -- eCORP Holding, LLC ("eCORP") announced
 today certain specifics concerning a natural gas pipeline project proposal --
 tentatively styled the Pipeline of New York Express Project ("the P.O.N.Y.
 Express Project") -- aimed at solving pressing supply issues plaguing New York
 and New England markets and meeting the burgeoning supply requirements of the
 region's new breed of electric generation providers.
     The P.O.N.Y. Express Project will be designed and built by eCORP with
 assistance from its Salternatives(TM) Technology Alliance Partners, along with
 eCORP affiliate Pipeline Power Partners, L.P.  The Project will link storage
 and other gas pipeline assets located in central New York and Pennsylvania to
 high growth gas markets in the New York metropolitan region and points east.
     In addition, eCORP and affiliates are building a major new high
 deliverability storage project, the Stagecoach Natural Gas Storage Project,
 approximately 150 miles from New York City near Owego, New York.  Coupling the
 P.O.N.Y. Express Project with this high performance storage facility will
 provide the types of flexible delivery services needed by new gas-fired
 electric generating facilities currently being developed to address electric
 generating capacity shortfalls in New York and New England.  Supporters of the
 Project believe that the P.O.N.Y. Express Project provides the best
 optimization of existing natural gas pipeline and storage assets owned by
 natural gas service providers to the region.  Tennessee Gas Pipeline Company
 has already received a certificate of public convenience and necessity from
 the FERC authorizing it to construct a lateral from its 300-Line in Northern
 Pennsylvania to the Stagecoach Storage Field and expand the capacity on its
 300-Line in order to better serve the growing markets in New York.  The
 Project should provide additional take away capacity and flexibility for users
 of the Stagecoach Storage Field and other pipelines in the region.
     "The Pipeline of New York Express Project will represent a very important
 addition to the region's infrastructure and enable a significant segment of
 the region to have access to high deliverability storage services," said
 Stephen L. Thumb of Energy Ventures Analysis, Inc., an Arlington, Virginia
 based energy consulting firm and a member of the Salternatives(TM) Technology
 Alliance.
     Although the Project is still in the early planning stages, the Project
 plans to take advantage of the 25,000 horsepower Sulzer Turbosystems, Inc.
 state-of-the-art electric powered compression being built for Stagecoach by
 Pipeline Power Partners, L.P.  Plans also include building a new gas pipeline
 west from the Stagecoach Compression Facility to connect with new gas
 production and other gas assets located near Corning, New York; east from the
 Stagecoach Compression Facility to interconnect with natural gas assets in
 Southern New York; and consideration of a pipeline extension from the
 Tennessee Lateral south into Central Pennsylvania for similar purposes.  In
 addition, the Project will seek to take advantage of existing pipelines and
 certain of their proposed expansions to accomplish significant additional
 deliveries of natural gas to users in New York City and to power providers
 along the route as well as supporting needed gas deliveries to New England
 markets.
     "The Northeast is one of the regions where future demand will challenge
 existing infrastructure.  In order to ensure that future regional gas
 requirements can be met, customers in the region, in particular, new gas-fired
 electric generating projects, will need access to high deliverability storage
 service.  The Pipeline of New York Express Project represents a significant
 step in providing access to such services and, as a result, a major step in
 strengthening the region's infrastructure," said Harry V. Helton, Managing
 Director and a Principal of Summit Energy Group Ltd., also a member of the
 Salternatives(TM) Technology Alliance.  Summit, an electric power developer,
 has actively participated in developing a large number of gas-fired power
 plants in the United States, including projects in the New York and New
 England areas.
     The Stagecoach Storage Facility, which is being developed in two phases,
 will initially be capable of supporting delivery of up to 500 million
 dekatherms a day, and ultimately over 1 billion dekatherms a day, to New York
 and New England markets which are very much in need of additional gas
 supplies.  Project supporters state that the high degree of flexibility to be
 offered by the proposed P.O.N.Y. Express pipeline system and the Stagecoach
 Storage Field will make it possible to support the widely fluctuating gas
 supply requirements of many of the region's new gas-fired electric generation
 facilities currently being built to meet increasing demand and, in part, to
 combat pollution in these areas.
     "This direct link for the Stagecoach Storage Project, the easternmost
 storage facility developed to date in the U.S., will accomplish -- with
 greater ease, lower cost and fewer adverse environmental impacts -- what two
 or more of the currently proposed long-haul pipeline options can achieve
 together," said Dr. John Francis Thrash, President and CEO of eCORP.
 "Stagecoach can initially be used to aggregate as much as 13 billion
 dekatherms, and eventually up to 20 billion dekatherms, of gas supply during
 lower cost off-peak periods and then redeliver them to market through the
 proposed pipeline at extremely high rates during on-peak periods of demand.
 We believe that the P.O.N.Y. Express Project offers a more immediate and lower
 cost solution to meeting the acute gas demand requirements now confronting the
 Northeast U.S., and will be more compelling than most other options currently
 being contemplated."
     "eCORP is very pleased to have Tennessee Gas Pipeline Company as an
 interconnecting pipeline with the Stagecoach Storage Field.  The proposed
 P.O.N.Y. Express pipeline project will further add to the markets that can be
 served by the Stagecoach Storage Project and assist in meeting such increasing
 gas requirements," stated Dr. Thrash.  "Although eCORP will continue its
 discussions with other pipelines concerning additional interconnections with
 the Stagecoach Storage Field, given the delays and uncertainties associated
 with some of the other proposed projects, we believe the P.O.N.Y. Express
 Project should provide one of the more immediate and lower cost solutions to
 meet the growing Northeast U.S. gas requirements," added Dr. Thrash.
     eCORP is a diversified energy company involved in the development of
 strategic energy assets including underground natural gas storage, power
 generation and natural gas pipelines.  For further information about eCORP
 please visit us at our web site at www.ecorpusa.com or call eCORP's Business
 Development Officer, Steve Clifton at 713-520-0993.
     This Press Release contains certain forward-looking statements regarding
 the intent, belief and current expectations of the company's management.
 Although the company believes that the expectations in such forward-looking
 statements are reasonable, it can give no assurance that such expectations
 will prove to be correct and assumes no obligation to update any forward-
 looking statements.
 
 

SOURCE eCORP Holding, LLC
    NEW YORK, April 18 /PRNewswire/ -- eCORP Holding, LLC ("eCORP") announced
 today certain specifics concerning a natural gas pipeline project proposal --
 tentatively styled the Pipeline of New York Express Project ("the P.O.N.Y.
 Express Project") -- aimed at solving pressing supply issues plaguing New York
 and New England markets and meeting the burgeoning supply requirements of the
 region's new breed of electric generation providers.
     The P.O.N.Y. Express Project will be designed and built by eCORP with
 assistance from its Salternatives(TM) Technology Alliance Partners, along with
 eCORP affiliate Pipeline Power Partners, L.P.  The Project will link storage
 and other gas pipeline assets located in central New York and Pennsylvania to
 high growth gas markets in the New York metropolitan region and points east.
     In addition, eCORP and affiliates are building a major new high
 deliverability storage project, the Stagecoach Natural Gas Storage Project,
 approximately 150 miles from New York City near Owego, New York.  Coupling the
 P.O.N.Y. Express Project with this high performance storage facility will
 provide the types of flexible delivery services needed by new gas-fired
 electric generating facilities currently being developed to address electric
 generating capacity shortfalls in New York and New England.  Supporters of the
 Project believe that the P.O.N.Y. Express Project provides the best
 optimization of existing natural gas pipeline and storage assets owned by
 natural gas service providers to the region.  Tennessee Gas Pipeline Company
 has already received a certificate of public convenience and necessity from
 the FERC authorizing it to construct a lateral from its 300-Line in Northern
 Pennsylvania to the Stagecoach Storage Field and expand the capacity on its
 300-Line in order to better serve the growing markets in New York.  The
 Project should provide additional take away capacity and flexibility for users
 of the Stagecoach Storage Field and other pipelines in the region.
     "The Pipeline of New York Express Project will represent a very important
 addition to the region's infrastructure and enable a significant segment of
 the region to have access to high deliverability storage services," said
 Stephen L. Thumb of Energy Ventures Analysis, Inc., an Arlington, Virginia
 based energy consulting firm and a member of the Salternatives(TM) Technology
 Alliance.
     Although the Project is still in the early planning stages, the Project
 plans to take advantage of the 25,000 horsepower Sulzer Turbosystems, Inc.
 state-of-the-art electric powered compression being built for Stagecoach by
 Pipeline Power Partners, L.P.  Plans also include building a new gas pipeline
 west from the Stagecoach Compression Facility to connect with new gas
 production and other gas assets located near Corning, New York; east from the
 Stagecoach Compression Facility to interconnect with natural gas assets in
 Southern New York; and consideration of a pipeline extension from the
 Tennessee Lateral south into Central Pennsylvania for similar purposes.  In
 addition, the Project will seek to take advantage of existing pipelines and
 certain of their proposed expansions to accomplish significant additional
 deliveries of natural gas to users in New York City and to power providers
 along the route as well as supporting needed gas deliveries to New England
 markets.
     "The Northeast is one of the regions where future demand will challenge
 existing infrastructure.  In order to ensure that future regional gas
 requirements can be met, customers in the region, in particular, new gas-fired
 electric generating projects, will need access to high deliverability storage
 service.  The Pipeline of New York Express Project represents a significant
 step in providing access to such services and, as a result, a major step in
 strengthening the region's infrastructure," said Harry V. Helton, Managing
 Director and a Principal of Summit Energy Group Ltd., also a member of the
 Salternatives(TM) Technology Alliance.  Summit, an electric power developer,
 has actively participated in developing a large number of gas-fired power
 plants in the United States, including projects in the New York and New
 England areas.
     The Stagecoach Storage Facility, which is being developed in two phases,
 will initially be capable of supporting delivery of up to 500 million
 dekatherms a day, and ultimately over 1 billion dekatherms a day, to New York
 and New England markets which are very much in need of additional gas
 supplies.  Project supporters state that the high degree of flexibility to be
 offered by the proposed P.O.N.Y. Express pipeline system and the Stagecoach
 Storage Field will make it possible to support the widely fluctuating gas
 supply requirements of many of the region's new gas-fired electric generation
 facilities currently being built to meet increasing demand and, in part, to
 combat pollution in these areas.
     "This direct link for the Stagecoach Storage Project, the easternmost
 storage facility developed to date in the U.S., will accomplish -- with
 greater ease, lower cost and fewer adverse environmental impacts -- what two
 or more of the currently proposed long-haul pipeline options can achieve
 together," said Dr. John Francis Thrash, President and CEO of eCORP.
 "Stagecoach can initially be used to aggregate as much as 13 billion
 dekatherms, and eventually up to 20 billion dekatherms, of gas supply during
 lower cost off-peak periods and then redeliver them to market through the
 proposed pipeline at extremely high rates during on-peak periods of demand.
 We believe that the P.O.N.Y. Express Project offers a more immediate and lower
 cost solution to meeting the acute gas demand requirements now confronting the
 Northeast U.S., and will be more compelling than most other options currently
 being contemplated."
     "eCORP is very pleased to have Tennessee Gas Pipeline Company as an
 interconnecting pipeline with the Stagecoach Storage Field.  The proposed
 P.O.N.Y. Express pipeline project will further add to the markets that can be
 served by the Stagecoach Storage Project and assist in meeting such increasing
 gas requirements," stated Dr. Thrash.  "Although eCORP will continue its
 discussions with other pipelines concerning additional interconnections with
 the Stagecoach Storage Field, given the delays and uncertainties associated
 with some of the other proposed projects, we believe the P.O.N.Y. Express
 Project should provide one of the more immediate and lower cost solutions to
 meet the growing Northeast U.S. gas requirements," added Dr. Thrash.
     eCORP is a diversified energy company involved in the development of
 strategic energy assets including underground natural gas storage, power
 generation and natural gas pipelines.  For further information about eCORP
 please visit us at our web site at www.ecorpusa.com or call eCORP's Business
 Development Officer, Steve Clifton at 713-520-0993.
     This Press Release contains certain forward-looking statements regarding
 the intent, belief and current expectations of the company's management.
 Although the company believes that the expectations in such forward-looking
 statements are reasonable, it can give no assurance that such expectations
 will prove to be correct and assumes no obligation to update any forward-
 looking statements.
 
 SOURCE  eCORP Holding, LLC