Gulfstream Natural Gas System L.L.C. Sets Open Season for Proposed Expansion - Duke Energy

News Release
Feb. 1, 2006

Gulfstream Natural Gas System L.L.C. Sets Open Season for Proposed Expansion

TAMPA, Fla.  –  Gulfstream Natural Gas System L.L.C. will conduct an open season beginning today to gauge market interest in a proposed compression-based mainline expansion of its existing natural gas pipeline system. The expansion is scheduled to be in-service Jan. 1, 2009.

The proposed compression-based expansion could add up to approximately 200,000 dekatherms per day of capacity to Gulfstream’s pipeline system. Additional open season details are available on Gulfstream’s Web site at www.1line.gulfstreamgas.com.

The month-long open season will close at 5 p.m. central on March 1, 2006. 

Shippers desiring to submit a non-binding nomination for the capacity to be made available must submit (i) an open season nomination form, and (ii) a refundable deposit to Gulfstream’s Tina Dieck at 813/282-6620 or tedieck@duke-energy.com or George Matzke at 813/282-6613 or gematzke@duke-energy.com

Placed into service in May 2002, Gulfstream Natural Gas System L.L.C. is a 691-mile pipeline system with the capacity to deliver 1.1 billion cubic feet of natural gas each day to serve Florida’s growing energy needs. The pipeline is a joint development between Williams (NYSE:WMB) and Duke Energy (NYSE:DUK).

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the companies believe any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995.

Contact: Chris Stockton, Williams
Phone: 713/215-2010
24-Hour Phone: n/a
e-mail: Christopher.L.Stockton@williams.com