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IROQUOIS GAS TRANSMISSION SYSTEM DELIVERIES BEGIN THIS WEEKEND BRINGING MAJOR NEW SOURCE OF NATURAL GAS TO NEW JERSEY AND NORTHEAST

    IROQUOIS GAS TRANSMISSION SYSTEM DELIVERIES BEGIN THIS WEEKEND  BRINGING MAJOR NEW SOURCE OF NATURAL GAS TO NEW JERSEY AND NORTHEAST
    WALL, N.J., Jan. 24 /PRNewswire/ -- A major new natural gas supply will become available to New Jersey Natural Gas Company (NJNG) customers this weekend as the Iroquois Gas Transmission System begins delivery of natural gas from Canada to utilities and power generators in New Jersey, New York and New England.
    NJNG is the principal subsidiary of New Jersey Resources Corporation (NYSE: NJR).
    The delivery of gas through the 370 mile Iroquois pipeline marks the end of nearly six years of the most thorough federal and state regulatory and environmental review process ever applied to an interstate pipeline project.
    Iroquois will bring the largest year-round addition to NJNG's gas supply portfolio in more than two decades.  About 18 percent of NJNG's total firm gas supply--as much as 40 million cubic feet of gas per day-- is expected to result from Iroquois by 1993.
    "Iroquois will provide a clean, reliable, secure supply of affordable natural gas for the homeowners, businesses and industries throughout the U.S. Northeast for many years to come," says Philip H. Reardon, NJNG president and chief executive officer.
    "The increased available gas supply and the addition of new pipeline capacity into the Northeast provides greater assurance that we can continue to meet the energy needs of our growing customer base, even during prolonged periods of cold winter weather, and reduce the region's dependence on foreign oil from unstable parts of the world," Reardon says.
    Iroquois also makes more gas available for new and expanding markets like cogeneration and natural gas vehicles, Reardon points out.
    Iroquois was built by a 12 member partnership of U.S. and Canadian energy companies.  This partnership includes NJNR Pipeline Company, a wholly owned subsidiary of NJR Energy Corporation, an NJNG affiliate.
    By November 1992, Iroquois will transport fully contracted annual gas volumes of more than 640 million cubic feet, enough to meet the energy needs of 1.6 million homes.  This gas will be the energy equivalent of more than 30 million barrels of imported oil each year. The Northeast's use of the natural gas delivered by Iroquois will also result in a direct and significant improvement to air quality by reducing sulfur emissions by more than 75,000 tons annually, Reardon says.
    NJNG has needed no new pipeline construction in New Jersey; instead, gas supplies will be exchanged with other companies through existing pipelines now bringing gas into the state.
    Utilizing Canada's vast natural gas reserves to meet its gas supply diversification objectives is not new to NJNG.  In 1984, the utility began receiving supplies as a result of its participation in the Boundary Gas, Inc. consortium, which continues today to supply about five percent of NJNG's total firm gas volumes.
    NJNG serves nearly 315,000 customers in virtually all of Monmouth and Ocean counties and parts of Morris and Middlesex counties.
    -0-        1/24/92
    /CONTACT:  Glenn J. Phillips, 908-938-1112, or David M. Klucsik, 908-938-1114, both of NJNG/
    (NJR) CO:  New Jersey Natural Gas Co.; New Jersey Resources Corp. ST:  New Jersey IN:  OIL SU: SM -- NY032 -- 3202 01/24/92 10:44 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 24, 1992
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