El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
30-Jun-2005
El Paso Corporation's ANR Pipeline Sells Out Existing Storage Capacity; Extends Open Season for Storage Service Expansion HOUSTON, June 30 /PRNewswire-FirstCall/ -- ANR Pipeline Company (ANR), a
subsidiary of El Paso Corporation (NYSE: EP), announced today that it has
fully subscribed the company's existing storage capacity through the 2006-2007
withdrawal season and is extending its non-binding open season for expansion
of storage and associated transportation service at the request of customers.
"This strong response from our customers is further confirmation of the
market's growing need for future storage services," said Steve Beasley,
president of El Paso's Eastern Pipeline Group. "We believe ANR's proposed
storage expansion and extensive delivery infrastructure is well-placed to meet
these additional needs."
ANR's extended open season is for new storage and transportation capacity
commencing operation in 2006, 2007, or 2008. The open season, originally
scheduled to end on June 22, will now run until July 8, 2005. The storage
capacity offered is designed to help customers manage seasonal price
volatility and provide increased supply security.
ANR Pipeline Company operates more than 10,500 miles of interstate natural
gas pipeline and over 230 billion cubic feet of storage fields, providing
transportation, storage, and capacity-related services to customers in the
United States and Canada.
El Paso Corporation provides natural gas and related energy products in a
safe, efficient, and dependable manner. The company owns North America's
largest natural gas pipeline system and one of North America's largest
independent natural gas producers. For more information, visit
http://www.elpaso.com .
Cautionary Statement Regarding Forward-Looking Statements
This release includes forward-looking statements and projections, made in
reliance on the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The company has made every reasonable effort to ensure
that the information and assumptions on which these statements and projections
are based are current, reasonable, and complete. However, a variety of
factors could cause actual results to differ materially from the projections,
anticipated results or other expectations expressed in this release,
including, without limitation, the ability to implement and achieve our
objectives in the long-range plan; the receipt of the necessary capacity
commitments for this project; the receipt of necessary governmental approvals
for this project; and other factors described in the company's (and its
affiliates') Securities and Exchange Commission filings. While the company
makes these statements and projections in good faith, neither the company nor
its management can guarantee that anticipated future results will be achieved.
Reference must be made to those filings for additional important factors that
may affect actual results. The company assumes no obligation to publicly
update or revise any forward-looking statements made herein or any other
forward-looking statements made by the company, whether as a result of new
information, future events, or otherwise.
SOURCE El Paso Corporation
06/30/2005
CONTACT:
Investor and Public Relations:
Bruce L. Connery, Vice
President, 1-713-420-5855, or fax, 1-713-420-4417
or
Media Relations, Aaron
Woods, Manager, 1-713-420-6828, or fax, 1-713-420-6341
Both of El Paso
Corporation
7514 06/30/2005 10:35 EDT http://www.prnewswire.com
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