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COASTAL'S PROPOSED 600-MILE PIPELINE SELECTED BY FLORIDA POWER

 ST. PETERSBURG, Fla., Jan. 4 /PRNewswire/ -- The Coastal Corporation (NYSE: CGP) announced today that Florida Power Corporation has selected Coastal's proposal to supply natural gas through a new 600-mile pipeline from the panhandle to central Florida.
 Florida Power said in a letter notifying Coastal of the decision that it had picked the proposal "over competing offers." The new pipeline could begin operations as early as 1995.
 "We think this is a good project, one that will benefit Florida and its consumers," said James R. Paul, president and chief executive officer of the Coastal Corporation. "With a strong customer like Florida Power, we are confident in our ability to inject competition into the Florida natural gas market."
 Under the proposal, Coastal's SunShine Pipeline Company and SunShine Interstate Transmission Company will provide long-term, firm transportation of an initial volume of 120 million cubic feet per day of natural gas to Florida Power, increasing to 210 million cubic feet per day by 1999.
 SunShine will make necessary filings with the appropriate regulatory agencies by Feb. 1, 1993, with initial operation possible as early as 1995. Pipeline construction would begin during 1994.
 Florida Power has an option to participate in the project as an equity partner.
 The proposed 30-inch diameter natural gas transmission pipeline will originate in Pascagoula, Miss., and serve customers in Mississippi, Alabama and Florida. Florida Power's decision is a major milestone for the project.
 Meanwhile, discussions continue with other potential customers who have expressed interest in the project, including major electric utilities, local natural gas distribution companies and industrial users.
 Coastal subsidiaries have served Florida's energy, asphalt and other petroleum needs since 1915. Coastal subsidiaries in Florida operate 82 convenience stores and marine fueling operations in every major Florida port, distribute industrial and consumer petroleum products, and manage retail and wholesale marketing operations.
 SunShine Pipeline Co. and Sunshine Interstate Transmission Co. are subsidiaries of The Coastal Corporation, a Houston-based energy holding company. Coastal has consolidated assets of more than $9 billion and subsidiary operations in natural gas marketing, transmission and storage, refining and marketing, oil and gas exploration and production, coal, chemicals, trucking and independent power production.
 -0- 1/4/93
 /CONTACT: Dave Scott of Coastal Corporation, 713-877-3839/
 (CGP)


CO: Coastal Corporation; Florida Power Corporation ST: Texas, Florida IN: OIL SU: CON

SM-AH -- NY052 -- 1339 01/04/93 13:17 EST
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Publication:PR Newswire
Date:Jan 4, 1993
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