National Fuel Gas Supply Corporation Announces Open Season for Storage Service And Extends Appalachian Lateral Open Season Closing Date
Posted on: Monday, 8 September 2008, 09:00 CDT
National Fuel Gas Supply Corporation ("Supply"), one of the operating companies in the Pipeline and Storage segment of National Fuel Gas Company (NYSE: NFG) ("National Fuel"), today announces an Open Season to provide shippers with access to long-term contracts for firm storage capacity of up to 8,500,000 decatherms of natural gas, or about 8.5 billion cubic feet.
The incremental storage space, which will be available upon the completion of expansion facilities, is being developed in concert with Supply's West-to-East and Appalachian Lateral pipeline transportation projects, and involves the expansion of several of Supply's existing underground natural gas storage fields. The incremental capacity will be phased in over a two-year period, with the initial phase projected to go in service on April 1, 2011. The Open Season will close on Friday, October 3, 2008, at 11:00 a.m. (Eastern time).
Supply also announces that the deadline for the Appalachian Lateral Open Season launched on Tuesday, August 5, 2008, will be extended until Friday, October 3, 2008, at 11:00 a.m. (Eastern time) to coincide with the storage expansion Open Season. The Appalachian Lateral Open Season offers capacity on a newly proposed pipeline system that will provide much-needed new interstate pipeline infrastructure to bring to growing Northeast markets the new gas supplies to be produced from the Marcellus Shale and other Appalachian producing formations. The Appalachian Lateral may serve as a complement to Supply's previously announced West-to-East project, which is designed to move Rockies Express gas supply from Ohio to the Northeast.
More information about the transportation and storage services being offered with these Open Seasons can be obtained at www.nationalfuelgas.com, or by calling National Fuel's Interstate Marketing Department at (716) 857-7740. Both Open Seasons will close at 11:00 a.m. (Eastern time) on Friday, October 3, 2008.
The Pipeline and Storage segment operations of National Fuel Gas Company are carried out by National Fuel Gas Supply Corporation and Empire State Pipeline. These companies provide natural gas transportation and storage services to affiliated and non-affiliated companies through an integrated system of nearly 3,000 miles of pipelines and 31 underground natural gas storage fields in western New York and western Pennsylvania.
National Fuel Gas Company is an integrated energy company with $4.3 billion in assets comprised of the following five operating segments: Exploration and Production, Pipeline and Storage, Utility, Energy Marketing, and Timber. Additional information about National Fuel is available on its web site: www.nationalfuelgas.com or through its investor information service at 1-800-334-2188.
Source: Business Wire
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