November 3, 2008
Iroquois Announces MarketAccess Facilities In-Service
SHELTON, Conn., Nov. 3 /PRNewswire/ -- Iroquois Gas Transmission System, L.P. ("Iroquois") announced today that its MarketAccess Expansion Project was placed in-service on November 1, 2008 as scheduled. Facilities include a new 7,700 HP compressor station with cooling in Brookfield, Connecticut and the addition of a cooling facility at its existing compressor station in Dover, New York.
Iroquois' MarketAccess Project, a component of the larger Northeast 07 (NE-07) Project, will deliver an additional 100 million cubic feet of natural gas from Iroquois' interconnection with the Algonquin Gas Transmission System in Brookfield, CT to the Consolidated Edison Company in the Bronx, NY.
"The successful completion of this expansion demonstrates Iroquois' continued ability to provide incremental supplies to the constrained New York City area using our existing energy infrastructure corridor across Long Island Sound and thereby minimizing the impact on the environment." said Jay Holm, President of Iroquois Pipeline Operating Company. "We look forward to working with the various parties to serve this area's growing energy needs in an environmentally responsible manner."
Iroquois Gas Transmission System, L.P. is the owner of an interstate pipeline extending 411 miles from the US-Canadian border at Waddington, NY, through the state of Connecticut to South Commack, Long Island, NY and Hunts Point, Bronx, NY. The company is regulated by the Federal Energy Regulatory Commission ("FERC"). Since going into operation in December 1991, Iroquois has more than doubled its design day throughput capacity. The pipeline is operated by the Iroquois Pipeline Operating Company, a wholly owned subsidiary of Iroquois.
Iroquois is a Limited Partnership owned by affiliates of TransCanada PipeLines Limited, Dominion Resources, Inc., National Grid U.S., New Jersey Resources Corp. and Energy East Corp.
Forward-Looking Statement Disclaimer
This press release contains various forward-looking statements. Such forward-looking statements are based on current expectations, are not guarantees of future performance and include assumptions about future market conditions, operations and results. Iroquois can give no assurance that such expectations will be achieved. Among the many factors that could cause actual results to differ materially from those in the forward-looking statements herein are: future demand and prices for natural gas; availability of supplies of natural gas; regulatory, political, legislative and judicial developments, particularly with regard to regulation by the Federal Energy Regulatory Commission; the timing and cost of Iroquois' expansion projects; competitive conditions in the marketplace; changes in the receptivity of the financial markets to Iroquois or other oil and gas credits similar to Iroquois and, accordingly, our strategy for financing any such change in business strategy or expansion.
Ruth Parkins, 203-925-7209
Iroquois Gas Transmission System, L.P.
CONTACT: Ruth Parkins of Iroquois Gas Transmission System, L.P.,+1-203-925-7209
Web site: http://www.iroquois.com/