Printer Friendly

EMPIRE STATE PIPELINE, NEW YORK STATE ELECTRIC & GAS SIGN AGREEMENT

    EMPIRE STATE PIPELINE, NEW YORK STATE ELECTRIC & GAS SIGN AGREEMENT
    HOUSTON, March 23 /PRNewswire/ -- Sponsors of the proposed Empire State Pipeline project today announced that New York State Electric & Gas Corporation (NYSEG) (NYSE: NGE) has signed an agreement to transport 20 million cubic feet of natural gas per day on the Empire pipeline.
    The 15-year agreement calls for Empire to transport a 50-50 mix of Canadian and U.S. natural gas supplies to serve NYSEG customers in the western and central New York communities of Auburn, Geneva and Lockport. The volumes transported by Empire will supplement NYSEG's system supply needs on a year-round basis.
    James R. Paul, president and chief executive officer of The Coastal Corporation (NYSE: CGP), said, "We welcome the addition of New York State Electric & Gas as an Empire customer.  This latest agreement serves to reinforce the strong and diverse market support that exists for Empire."
    Russell Fleming, Jr., senior vice president at NYSEG and head of its Gas Business Unit, said, "The Empire State Pipeline will be an important addition to NYSEG's natural gas system supply and a significant benefit for our customers and shareholders.  We look forward to a long and mutually rewarding relationship with this project."
    Jim Leech, president of Union Energy, said, "This is the fifth customer who intends to source Canadian supplies through Empire State Pipeline."
    Empire will offer NYSEG and its other New York customers access to natural gas storage facilities in Michigan and Ontario and to essentially every gas supply basin in Canada and the United States.
    An intrastate pipeline that will run between the international border near Buffalo, N.Y., and Syracuse, Empire has received approvals from the New York State Public Service Commission and the Federal Energy Regulatory Commission.  Construction of Empire should begin this year, upon receipt of final Canadian regulatory authorization.
    New York State Electric & Gas Corporation provides electric and/or natural gas service to more than one-third of New York state's land area.  Besides having 777,000 electric customers, NYSEG serves 220,000 natural gas customers in 27 counties with transportation, distribution and storage facilities.
    Empire sponsors are subsidiaries of The Coastal Corporation, Union Energy Inc. and Rochester Gas and Electric Corporation.
    Rochester Gas and Electric supplies electric and natural gas service wholly within the state of New York and is engaged in the production, transmission, distribution and sale of these services in a nine-county area centering around the city of Rochester.
    Union Energy Inc. is a leading Canadian energy company engaged in all phases of the natural gas business - from wellhead to burner tip. The company's operations transport and sell over 900 Bcf of natural gas per year to markets in central Canada and the northeastern United States.  Union Energy explores for, produces and purchases natural gas throughout North America and operates Canada's second largest natural gas distribution utility and largest underground natural gas storage system.
    The Coastal Corporation is a Houston-based energy holding company. It has consolidated assets of $9 billion and subsidiary operations in natural gas transmission and storage, refining and marketing, oil and gas exploration and production, coal, chemicals, trucking and independent power production.
    -0-                       3/23/92
    /CONTACT:  Dave Scott of Coastal Corporation, 713-877-3839, or Marian Droll of ANR Pipeline, 313-496-3756/
    (CGP) (NGE) CO:  Empire State Pipeline; Coastal Corporation; New York State Electric
     & Gas Corporation ST:  New York, Texas IN:  OIL SU: PS-KW -- NY075 -- 0802 03/23/92 18:08 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 23, 1992
Words:571
Previous Article:AMERICAN STOCK EXCHANGE DAILY REPORT
Next Article:CHH RECEIVES EXTENSION ON EXCLUSIVITY PERIOD AND PERIOD TO ASSUME OR REJECT STORE LEASES
Topics:


Related Articles
UNITED GAS AND ANR PIPELINE SIGN AGREEMENT FOR FLORIDA PIPELINE
ROCHESTER GAS & ELECTRIC IN NEGOTIATIONS FOR MULTI-YEAR RATE SETTLEMENT
NYSEG AND THE PSC STAFF SIGN MULTI-YEAR RATE SETTLEMENT AGREEMENT
DUFF & PHELPS: NORTHERN STATES POWER COMPANY -- WISCONSIN $40 MILLION FIRST MORTGAGE BONDS (SHELF) RATED 'AA'
NYSEG AND ALLEGHENY LUDLUM SIGN ELECTRIC RATE AGREEMENT
NYSEG, AUBURN STEEL SIGN ENERGY SERVICE AGREEMENT
GAS CAPACITY COST SETTLEMENT REACHED; RG&E RESPONSIBLE FOR SURPLUS CAPACITY
RG&E Correction(Correction Notice)
PROJECTS.
NEWSREEL.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters