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DESTEC AND NJNG SIGN GAS SUPPLY AGREEMENT FOR NORTHWAY COGENERATION PROJECT

 HOUSTON, Aug. 24 /PRNewswire/ -- Destec Energy, Inc. (NYSE: ENG), a leading independent power producer today announced that it has entered into a gas service agreement with New Jersey Natural Gas Company (NJNG) to supply natural gas for the Northway cogeneration project in Harriman, N.Y. New Jersey Natural Gas Company is the principal subsidiary of New Jersey Resources Corporation (NYSE: NJR).
 The 20-year agreement covers the supply of approximately 4 billion cubic feet of natural gas annually for the Northway facility. Northway is designed to provide up to 57 megawatts of electrical power to Orange and Rockland Utilities, Inc., under the terms of an existing 25-year power purchase agreement, and thermal energy for industrial processing applications to the adjacent Nepera, Inc. facility in Harriman, N.Y. The Northway facility is being jointly developed by Destec and Paradigm Power, Inc., the independent power subsidiary of New Jersey Resources Corp.
 "Securing the fuel supply is a significant milestone in the development of Northway," said Charles F. Goff, president and CEO of Destec. "This agreement with New Jersey Natural Gas is an important step toward providing efficient and environmentally clean power from the Northway facility for homes and businesses served by Orange and Rockland."
 "The execution of a long-term gas supply contract with the Northway project is consistent with NJR's strategic focus to supply off-peak natural gas to independent power generation projects," said Oliver G. Richard III, chairman and CEO of New Jersey Resources Corporation. "By effectively balancing our gas supply load, the agreement maximizes the synergies that exist among all of our energy-related businesses."
 -0- 8/24/93
 /CONTACT: Keith D. Duke (investors), 713-735-4022, or Marvin L. Brown Jr. (media), 713-735-4215, both of Destec Energy, Inc., or Catherine M. Downey of New Jersey Resources Corporation, 908-938-7866/
 (ENG NJR)


CO: Destec Energy, Inc.; New Jersey Natural Gas Company ST: Texas, New Jersey IN: OIL SU:

TS -- NY049 -- 5479 08/24/93 13:22 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
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