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NIPSCO INDUSTRIES, INC. ANNOUNCES AGREEMENT TO PURCHASE TECUMSEH PIPE LINE

 MERRILLVILLE, Ind., Feb. 8 /PRNewswire/ -- NIPSCO Industries, Inc. (NYSE: NI) today announced it has reached an agreement with the Tecumseh Pipe Line Company for the purchase of a 20-inch pipeline that extends easterly from Schererville, Ind., approximately 202 miles to Cygnet, Ohio.
 Tecumseh's stock is owned 40 percent by the Atlantic Richfield Company, 40 percent by Union Oil Company of California, and 20 percent by Ashland Oil, Inc. Tecumseh constructed the pipeline in 1957 to transport crude oil to Indiana and Ohio refineries. NIPSCO Industries intends to convert the line to an interstate gas pipeline capable of providing expanded purchase and delivery options to utility and industrial customers in northern Indiana and Ohio.
 "The purchase of the Tecumseh pipeline is consistent with our overall strategy of realizing opportunities created by the continuing deregulation of the natural gas industry," said Gary L. Neale, NIPSCO Industries' executive vice president. "The Tecumseh pipeline will allow NIPSCO Industries to interconnect five interstate pipelines which serve the central midwest. These interconnections will facilitate the development of a northern gas supply and delivery hub providing a path for gas flows in the regional markets of Indiana, Ohio, Michigan, Wisconsin and Illinois. This acquisition makes sense for customers in these areas who have indicated a need for greater flexibility and purchase options in the deregulated environment."
 Neale added, "The Tecumseh pipeline will facilitate NIPSCO's commitment to deliver reliable service at competitive prices and position the company to operate effectively within the increasingly deregulated gas industry."
 Completion of the transaction is subject to final certification of system integrity and approval of the transaction by the boards of directors of NIPSCO Industries, Inc. and Tecumseh Pipe Line Company.
 -0- 2/8/93
 /CONTACT: Thomas J. Kallay of NIPSCO Industries, Inc., 219-647-6203/
 (NI)


CO: NIPSCO Industries, Inc.; Tecumseh Pipe Line Company ST: Indiana IN: UTI SU:

BM -- CL017 -- 4284 02/08/93 16:52 EST
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Publication:PR Newswire
Date:Feb 8, 1993
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