CenterPoint Energy Gas Transmission and Duke Energy Gas Transmission Set Open Season for Proposed Southeast U.S. Pipeline Project
HOUSTON – CenterPoint Energy Gas Transmission Company, an indirect, wholly owned interstate natural gas pipeline subsidiary of CenterPoint Energy, Inc. (NYSE: CNP) and Duke Energy Gas Transmission, a subsidiary of Duke Energy (NYSE: DUK), will conduct an open season beginning today to gauge market interest in their recently proposed southeastern U.S. pipeline project.
On Nov. 16, the companies announced the execution of a Memorandum of Understanding (MOU) to cooperate in the evaluation, marketing and development of the natural gas pipeline, along with the intent to conduct an open season in early December.
The proposed southeastern U.S. pipeline is designed to reach from CEGT's Perryville Hub to DEGT's partially owned affiliate pipeline, Gulfstream Natural Gas System, a distance of about 250 miles. The proposed pipeline route would cross and interconnect with all of the major interstates serving the eastern United States that are not currently served at the Perryville Hub in northeast Louisiana. The proposed pipeline would provide summer electric utility markets in the Southeast, as well as the winter heating markets in the Northeast, with reliable onshore supply from the growing Barnett Shale, Fayetteville Shale and Bossier Sand basins via the highly liquid Perryville Hub.
It would also provide an important link for traditional Gulf Coast-area supply and developing regasified liquefied natural gas (LNG) volumes.
The capacity of the potential new pipeline is projected to be between 700 million cubic feet per day and 1.0 billion cubic feet per day. The pipeline could be in service as early as mid-2008.
The non-binding open season will run through Jan. 20, 2006.
Shippers interested in the services proposed under the project are encouraged to contact DEGT’s David Shammo at either 713/627-4419 or firstname.lastname@example.org or CEGT’s John Haynes at either 713/207-5130 or john.haynes@CenterPointEnergy.com.
CenterPoint Energy, Inc. headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission and distribution, natural gas distribution and sales, interstate pipeline and gathering operations. The company serves nearly 5 million metered customers in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. Assets total approximately $16 billion. With more than 9,000 employees, CenterPoint Energy and its predecessor companies have been in the business for more than 130 years. For more information, visit the Web site at http://www.CenterPointEnergy.com.
Duke Energy Gas Transmission is a North American leader in developing natural gas energy infrastructure, connecting major natural gas supply sources to growing markets. Based in Houston, Texas, the company's assets and operations include more than 17,500 miles of transmission pipeline and 250 billion cubic feet of storage capacity in Canada and the United States along with significant gathering, processing, distribution and natural gas liquids operations that are among the largest in Canada. More information on DEGT can be found at: http://www.degt.duke-energy.com.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The statements in this news release regarding future events and other statements that are not historical facts are forward-looking statements. Although CenterPoint Energy and Duke Energy believe that their respective expectations of future events as set forth in this release are based on reasonable assumptions, neither CenterPoint Energy nor Duke Energy can give assurance that anticipated results will be achieved or that anticipated events will occur. Actual events and results may differ materially from those projected. Important factors that could cause actual results to differ materially from those in the forward-looking statements of CenterPoint Energy herein are discussed in CenterPoint Energy's and its subsidiaries Form 10-Ks for the period ended Dec. 31, 2004, and Form 10-Qs for the periods ended March 31, June 30 and Sept. 30, 2005, and other filings with the Securities and Exchange Commission. Important factors could cause actual results to differ materially from those in the forward-looking statements of Duke Energy herein are discussed in Duke Energy's Form 10-Q for the quarter ended Sept. 30, 2005, and other filings with the Securities and Exchange Commission.