Constitution Pipeline, Leatherstocking Gas Co. to Facilitate Potential Local Gas Service in Southern NY & Northern PA

  Constitution Pipeline, Leatherstocking Gas Co. to Facilitate Potential Local
  Gas Service in Southern NY & Northern PA

     Project will help Amphenol remain competitive and protect local jobs

Business Wire

SIDNEY, N.Y. -- March 18, 2014

Constitution Pipeline Company, LLC and Leatherstocking Gas Company, LLC today
announced plans to install four delivery taps along Constitution’s proposed
pipeline route to facilitate local natural gas service in southern New York
and northern Pennsylvania as early as late 2015.

Leatherstocking is evaluating delivery point locations for local distribution
of natural gas to homes and businesses in Delaware, Otsego and Susquehanna
counties and one tap location that would provide service to the Amphenol
Aerospace Plant in Sidney, N.Y. Last month, the Delaware County Industrial
Development Agency awarded a grant of $750,000 for the construction of a
natural gas pipeline from the proposed Constitution Pipeline to Amphenol
Corporation’s existing facility in Sidney, N.Y., as well as a new planned
manufacturing facility.

Specific tap locations will be finalized once the pipeline route is confirmed,
currently pending final federal regulatory approval.

“The Constitution Pipeline can create a backbone for Leatherstocking Gas
Company to extend the development of local natural gas distribution franchises
in rural communities along the pipeline route in northern Pennsylvania and
southern New York,” said Leatherstocking CEO Mike German. “We are excited
about the possibilities for local service that this new pipeline
infrastructure can provide.”

Leatherstocking’s vision encompasses development of local distribution systems
to introduce natural gas service to locations within Broome, Chenango,
Delaware, and Madison counties in New York and Susquehanna County in
Pennsylvania that currently have no such service. Leatherstocking has
franchise agreements in 10 municipalities within Delaware, Otsego, Chenango
and Broome counties in New York. The New York State Public Service Commission
must grant certificates of public convenience to Leatherstocking in the
identified areas before distribution system development can begin.

“We believe working with Leatherstocking is a great opportunity to potentially
provide gas service to communities along the pipeline route,” said
Constitution Pipeline Project Manager Matt Swift. “The members of these
communities who do not have access to local natural gas service will greatly
benefit from this affordable, U.S.-produced, cleaner energy resource.”

Amphenol Aerospace, a division of Amphenol Corporation, is one of the largest
manufacturers of interconnect products in the world for the military,
commercial aerospace, and industrial markets. Amphenol’s manufacturing
operations were established in the Town of Sidney in 1925 and remain a major
employer in the region.

“The accomplishment of affordable and clean energy is a key element in
Amphenol’s ability to compete in today’s global economy,” said Amphenol Vice
President Gary Anderson.

The availability of local gas service from the proposed delivery taps
represents one of many direct benefits presented by the Constitution Pipeline
project. A study developed by a third-party research firm found that of the
$683 million Constitution Pipeline would spend during the initial three-year
planning and building process, approximately $166 million will directly
benefit the five-county region of Susquehanna, Broome, Delaware, Otsego and
Schoharie counties. Once operational, the pipeline’s economic impact is
anticipated to result in about $13 million in annual property tax revenue.
Property taxes, which accrue to different levels of government in different
proportions, are paid to school districts and local governments. Approximately
60 percent of taxes paid by this project will go to local school districts
along the pipeline route.

The Constitution Pipeline project – which involves the construction of a
30-inch natural gas pipeline from Susquehanna County, Penn., to Schoharie
County, N.Y. – is currently being reviewed by the Federal Energy Regulatory
Commission (FERC). In February 2014 the FERC issued the draft Environmental
Impact Statement for the proposed project, concluding that environmental
impacts would be reduced to “less than significant levels” with the
implementation of proposed mitigation measures by the company and FERC. A
final Environmental Impact Statement is expected this summer. Construction on
the pipeline is scheduled to begin as early as late 2014.

Constitution Pipeline Company

Constitution Pipeline Company, LLC is owned by subsidiaries of Williams
Partners L.P., Cabot Oil & Gas Corporation, Piedmont Natural Gas Company,
Inc., and WGL Holdings, Inc. The 124-mile pipeline project is proposed to
connect domestic natural gas production in northeastern Pennsylvania with
northeastern markets by late 2015 or 2016. Additional information about the
Constitution Pipeline can be found at www.constitutionpipeline.com.

Leatherstocking Gas Company

Leatherstocking Gas Company is a 50/50 partnership between Corning Natural Gas
Corporation and Mirabito Holdings, Inc. Together the two entities have more
than 190 years in serving the region with natural gas and other energy
products. For more information about Leatherstocking Gas Company, visit
www.leatherstockinggas.com.

Portions of this document may constitute “forward-looking statements” as
defined by federal law. Although the company believes 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. Additional information about issues that could lead to material
changes in performance is contained in the company’s annual reports filed with
the Securities and Exchange Commission.

Contact:

Constitution Pipeline
Chris Stockton, 713-215-2010
Christopher.L.Stockton@Williams.com
or
Leatherstocking Gas Company
Russ Miller, 607-936-3755 (x280)
RMiller@LeatherStockingGas.com
 
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