Tennessee Gas Pipeline Company (TGP), a unit of Kinder Morgan Energy
Partners, L.P. (NYSE: KMP), has signed a binding, 15-year firm
transportation precedent agreement with Seneca Resources Corporation,
the wholly owned exploration and production subsidiary of National Fuel
Gas Company (NYSE: NFG) to ship 158,000 dekatherms per day of natural
gas to eastern Canadian markets on the Niagara Expansion Project.
Subject to regulatory approvals, the approximately $29 million Niagara
Expansion Project is expected to begin service Nov. 1, 2015.
Seneca will serve as the foundation shipper for TGP’s Niagara Expansion
Project, which is designed to provide transportation from the prolific
Marcellus Shale in Pennsylvania to TGP’s interconnect with TransCanada
Pipeline in Niagara County, N.Y., to serve growing markets in eastern
Canada. TGP will provide for the expansion capacity through a
combination of existing capacity, pipeline looping, compressor station
modifications and off-system capacity on the interstate pipeline system
of National Fuel Gas Supply Corporation, also a wholly owned subsidiary
of National Fuel.
“TGP is pleased to partner with Seneca, a leading producer of natural
gas in the Appalachian Region, on this strategic project,” said Natural
Gas Pipelines East Region President Kimberly S. Watson. “TGP’s unique
footprint, connecting key shale supply areas from the Marcellus, makes
our Niagara Expansion Project an ideal fit to serve the growing supply
needs of eastern Canada.”
In November, 2012, TGP placed in service its Northeast Supply
Diversification Project under which it began exporting natural gas to
Canada. “In addition to strengthening TGP’s position as the premier
pipeline in the Northeast, the Niagara Expansion Project will provide
TGP’s customers with increased market diversity by increasing the
transportation capacity between Marcellus supplies and markets in
eastern Canada,” Watson said.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline
transportation and energy storage company and one of the largest
publicly traded pipeline limited partnerships in America. It owns an
interest in or operates more than 54,000 miles of pipelines and 180
terminals. The general partner of KMP is owned by Kinder Morgan, Inc.
(NYSE: KMI). Kinder Morgan is the largest midstream and the fourth
largest energy company in North America with a combined enterprise value
of approximately $105 billion. It owns an interest in or operates more
than 82,000 miles of pipelines and 180 terminals. Its pipelines
transport natural gas, gasoline, crude oil, CO2 and other
products, and its terminals store petroleum products and chemicals and
handle such products as ethanol, coal, petroleum coke and steel. KMI
owns the general partner interests of KMP and El Paso Pipeline Partners,
L.P. (NYSE: EPB), along with limited partner interests in KMP and EPB
and shares in Kinder Morgan Management, LLC (NYSE: KMR). For more
information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These
forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although Kinder Morgan
believes that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that such assumptions will
materialize. Important factors that could cause actual results to
differ materially from those in the forward-looking statements herein
include those enumerated in Kinder Morgan’s reports filed with the
Securities and Exchange Commission. Forward-looking statements
speak only as of the date they were made, and except to the extent
required by law, Kinder Morgan undertakes no obligation to update or
review any forward-looking statement because of new information, future
events or other factors. Because of these uncertainties, readers
should not place undue reliance on these forward-looking statements.
Copyright Business Wire 2013