Millennium Begins Pipeline Construction
PEARL RIVER, N.Y., June 22 /PRNewswire-FirstCall/ — Millennium Pipeline Company, L.L.C. announced that it has begun construction of its 182-mile-long, 30-inch-diameter buried natural gas pipeline across New York’s Southern Tier and lower Hudson Valley.
“This is the day we have been working toward for many years,” said Millennium President, Dick Leehr. “Through the cooperation and support of our anchor customers, numerous federal and state regulatory agencies, labor unions, local governments and owners, we have now reached this major milestone for new infrastructure within New York State.”
Ken Austin, Millennium’s Vice President and General Manager, added “Safety, reliability and sensitivity to the environment are our highest priorities during the construction process. These objectives will serve as guidelines from the day the first shovel of dirt is turned over to the final steps of pipeline installation in 2008 and through restoration in 2009.”
The project will be constructed over the next two years, with some restoration work extending into 2009. Specific details on the construction schedule are available on the Millennium website, http://www.millenniumpipeline.com/.
The Millennium Pipeline is anchored by its customers KeySpan Energy Delivery Long Island, Consolidated Edison of New York, Columbia Gas Transmission Corporation, and Central Hudson Gas and Electric Corporation. Millennium will serve markets along its route in the Southern Tier and lower Hudson Valley as well as providing essential service to the New York City markets through its pipeline interconnections. Millennium will transport up to 525,400 Dth/day when it goes in service in November, 2008. Millennium is jointly owned by affiliates of NiSource, Inc., KeySpan Corporation, and DTE Energy.
About NiSource, KeySpan and DTE Energy:
NiSource Inc. , based in Merrillville, Ind., is a Fortune 500 holding company engaged in natural gas transmission, storage and distribution, as well as electric generation, transmission and distribution. NiSource operating companies deliver energy to 3.7 million customers located within the high-demand energy corridor stretching from the Gulf Coast through the Midwest to New England. Information about NiSource and its subsidiaries is available via the Internet at http://www.nisource.com/.
KeySpan Corporation. A member of the Standard & Poor’s 500 Index, KeySpan Corporation is the largest distributor of natural gas in the Northeast with 2.5 million customers, operating regulated natural gas utilities in New York, Massachusetts and New Hampshire under the KeySpan Energy Delivery service company. KeySpan is also the largest investor owned electric generator in New York State, with approximately 6,400 Mw of generating capacity providing power to 1.1 million Long Island Power Authority customers on Long Island and supplying 25 percent of New York City’s capacity needs. KeySpan also has strategic investments in natural gas exploration, production, pipeline transportation, distribution and storage, and Canadian gas processing. KeySpan has headquarters in Brooklyn, Boston and Long Island and 12,000 employees. More information is available at http://www.keyspanenergy.com/.
DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its largest operating units are Detroit Edison, an electric utility serving 2.2 million customers in southeastern Michigan, and MichCon, a natural gas utility serving 1.3 million customers in Michigan. The DTE Energy portfolio of businesses also includes non-utility subsidiaries supplying a broad range of project and energy management services, primarily to large industrial and commercial customers. In 2006, DTE Energy posted revenues of approximately $9 billion. Information about DTE Energy is available at http://www.dteenergy.com/.
Forward-looking statements:
This news release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to various risks and uncertainties. The factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed herein include, among others things, risks associated with contract termination rights, increased competition in deregulated energy markets, weather, fluctuations in supply and demand for energy commodities, growth opportunities, dealings with third parties over whom Millennium has no control, actual operating experience, the regulatory process, regulatory and legislative changes, changes in general economic, capital and commodity market conditions, and counter-party credit risk, many of which are beyond the control of Millennium. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Millennium does not undertake any obligation to publicly release any revision to these forward-looking statements to reflect events or circumstances after the date of this news release.
Millennium Pipeline Company, L.L.C.
CONTACT: Mike Armiak of Millennium Pipeline Company, L.L.C.,+1-845-620-1300; Brent Archer of NiSource Inc., +1-703-227-3218; Lorie Kesslerof DTE Energy, +1-313-235-8807; Diana Parisi of KeySpan Energy Corporation,+1-516-545-5052
Web site: http://www.millenniumpipeline.com/http://www.nisource.com/http://www.keyspanenergy.com/http://www.dteenergy.com/
