Iroquois Announces Wright Interconnect Project
SHELTON, Conn., Jan. 22, 2013
SHELTON, Conn., Jan. 22, 2013 /PRNewswire/ -- Iroquois Gas Transmission System
("Iroquois"), in conjunction with Constitution Pipeline ("Constitution"),
announced today that Iroquois will pursue development of the Wright
Interconnect Project ("WIP"), an expansion of its existing compression and
metering facilities in Wright, New York. WIP will enable delivery of up to
650,000 Dth/d of natural gas from the terminus of the proposed Constitution
Pipeline in Schoharie County, NY into both Iroquois and the Tennessee Gas
Pipeline under a 15 year capacity lease agreement with Constitution.
The proposed Constitution Pipeline is being developed to bring rapidly growing
natural gas supplies from northeastern Pennsylvania to meet the energy needs
of New York and New England - markets served by both Iroquois and Tennessee.
Leasing the WIP capacity from Iroquois will allow Constitution to eliminate
their proposed compression facility, thereby reducing impact on the
environment and the Wright, New York community. Iroquois' integration of the
WIP design at its existing facility is expected to reduce potential emissions
when compared to Constitution's previously proposed compression site.
According to Scott Rupff, Vice President of Marketing, Development and
Commercial Operations, "WIP further diversifies supply options for our
customers, enhances system reliability and reduces supply cost. The additional
gas supply will help us support Governor Malloy's Comprehensive Energy
Strategy in Connecticut and Governor Cuomo's Energy Highway initiative in New
York. We look forward to working with Constitution to bring supplies from the
burgeoning Marcellus shale basin to the Northeast."
WIP is targeted for an in-service date of March 2015 to coincide with the
startup of the Constitution Pipeline.
Iroquois Gas Transmission System, L.P. is the owner of an interstate natural
gas 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 commencing operations in December 1991,
Iroquois has more than doubled its design day 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 Iberdrola USA.
About Constitution Pipeline Company, LLC
Constitution Pipeline Company, LLC is a proposed, approximately 120-mile
interstate natural gas pipeline project designed to transport natural gas
produced in northeastern Pennsylvania to existing transmission pipeline
infrastructure located in Schoharie County, NY. For more information about the
proposal, visit the company's website at www.constitutionpipeline.com.
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
Scott Rupff, 203-925-7291
Todd White, 203-925-7284
SOURCE Iroquois Gas Transmission System, L.P.
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