HOUSTON--(Business Wire)--
Boardwalk Pipeline Partners, LP (NYSE:BWP) announced today that
its subsidiary, Gulf Crossing Pipeline Company LLC, has entered into
binding transportation agreements to transport an additional 300
million cubic feet per day (MMcf/d) of natural gas on its interstate
pipeline which is currently under construction. Boardwalk has executed
a ten year firm transportation agreement with Chesapeake Energy
Corporation to transport 150 MMcf/d and a ten year firm transportation
agreement with XTO Energy, Inc. that will begin at 75 MMcf/d when the
project is placed into service and will increase to 150 MMcf/d by
2011.
Gulf Crossing will consist of approximately 357 miles of 42-inch
pipeline that will originate near Sherman, Texas and proceed to the
Perryville, Louisiana area. As currently being constructed and with
these new firm agreements, Gulf Crossing is fully committed at 1.4
Bcf/d with a weighted average contract life of approximately 9.5
years. Boardwalk expects this project to be in service during the
first quarter 2009.
Boardwalk Pipeline Partners, LP is a master limited partnership
engaged through its subsidiaries, Gulf South Pipeline Company, LP and
Texas Gas Transmission, LLC, in the interstate transportation and
storage of natural gas. Boardwalk's two interstate natural gas
pipeline systems have approximately 13,660 miles of pipeline and
underground storage fields with aggregate working gas capacity of
approximately 155 Bcf.
This press release contains forward-looking statements within the
meaning of the federal securities laws relating to expectations, plans
or prospects for Boardwalk and its subsidiaries, including those
relating to the commencement of construction and the completion of the
Gulf Crossing Pipeline project. These statements are based upon the
current expectations and beliefs of management and are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements. These risks and uncertainties include market conditions
and other factors beyond the company's control and the risk factors
and other cautionary statements discussed in Boardwalk's filings with
the U.S. Securities and Exchange Commission.
Boardwalk Pipeline Partners
Jamie Buskill, 713-479-8082
Sr. Vice President and Chief Financial Officer
or
Petra Tabor, 866-913-2122
Investor Relations
Copyright Business Wire 2008
