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SHELL LNG DECIDES NOT TO PROCEED WITH COLUMBIA LNG STOCK PURCHASE

 SHELL LNG DECIDES NOT TO PROCEED WITH COLUMBIA LNG STOCK PURCHASE
 WILMINGTON, Del., July 16 /PRNewswire/ -- Shell LNG Company today notified The Columbia Gas System, Inc. (NYSE: CG), that Shell LNG would not proceed with the interim purchase of 40.8 percent of the stock of Columbia LNG Corporation because several pre-sale conditions had not been met.
 Shell LNG's notification terminates the agreement between Columbia and Shell LNG for the purchase by Shell LNG of the remaining Columbia LNG stock. Shell LNG currently owns 9.2 percent of the Columbia LNG stock.
 Columbia said earlier this week that it is reviewing other options to recover its investment in Columbia LNG of approximately $95 million. Among the alternatives Columbia is considering are selling all or part of its interest in Columbia LNG to other buyers or employing the facility in a storage and peaking operation designed to supply customers' natural gas needs during periods of high demand. If storage and peaking operations were implemented, the terminal would also be maintained and available for future imports of base load LNG to complement domestic gas supply.
 /delval/
 -0- 7/16/92
 /CONTACT: H.W. Chaddock, 302-429-5261, or W.R. McLaughlin, 302-429-5443, or 302-429-5000, both of Columbia Gas/
 (CG) CO: The Columbia Gas System, Inc.; Shell LNG Company ST: Delaware IN: OIL SU:


MP -- PH029 -- 9819 07/16/92 13:50 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
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