Boardwalk Announces Additional Commitments on Gulf Crossing.HOUSTON -- Boardwalk Pipeline Partners, LP (NYSE NYSE See: New York Stock Exchange :BWP BWP In currencies, this is the abbreviation for the Botswana Pula. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) announced today that its subsidiary, Gulf Crossing Pipeline Company LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , has entered into binding transportation agreements to transport an additional 300 million cubic feet per day (MMcf/d) of natural gas on its interstate pipeline which is currently under construction. Boardwalk has executed a ten year firm transportation agreement with Chesapeake Energy Chesapeake Energy (NYSE: CHK) is a producer of natural gas in the United States and according to their 3Q 2007 report, is the largest independent producer, third overall (including majors) and the most active driller of new wells in the US. Corporation to transport 150 MMcf/d and a ten year firm transportation agreement with XTO Energy XTO Energy (NYSE: XTO) is an American Fortune 500 and S&P 500 energy producing company. Its primary products are oil and natural gas. It is based in Ft. Worth, Texas and its current CEO is Bob R. Simpson. The company was founded in 1986. , Inc. that will begin at 75 MMcf/d when the project is placed into service and will increase to 150 MMcf/d by 2011. Gulf Crossing will consist of approximately 357 miles of 42-inch pipeline that will originate near Sherman, Texas Sherman is a city in Grayson County, Texas, United States. The population was 35,082 at the 2000 census. The population had increased to an estimated 37,623 in July 2006. It is the county seat of Grayson County. and proceed to the Perryville, Louisiana area. As currently being constructed and with these new firm agreements, Gulf Crossing is fully committed at 1.4 Bcf/d with a weighted average contract life of approximately 9.5 years. Boardwalk expects this project to be in service during the first quarter 2009. Boardwalk Pipeline Partners, LP is a master limited partnership engaged through its subsidiaries, Gulf South Pipeline Company, LP and Texas Gas Transmission Texas Gas Transmission is a natural gas pipeline which brings gas from the Louisiana Gulf coast up through Arkansas, Mississippi, Tennessee, and Kentucky, to supply gas to Illinois, Indiana, and Ohio. It is owned by Loews Corporation. Its FERC code is 18. , LLC, in the interstate transportation and storage of natural gas. Boardwalk's two interstate natural gas pipeline systems have approximately 13,660 miles of pipeline and underground storage fields with aggregate working gas capacity of approximately 155 Bcf. This press release contains forward-looking statements within the meaning of the federal securities laws relating to expectations, plans or prospects for Boardwalk and its subsidiaries, including those relating to the commencement of construction and the completion of the Gulf Crossing Pipeline project. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the company's control and the risk factors and other cautionary statements discussed in Boardwalk's filings with the U.S. Securities and Exchange Commission. |
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