Golden Triangle Storage Files for FERC Certificate
PRNewswire
BEAUMONT, Texas
Golden Triangle Storage, Inc., a subsidiary of AGL Resources The company plans to initially offer up to 12 billion cubic feet (Bcf) of working gas capacity in two caverns and, depending on market demand, could gradually enlarge the two caverns' capacity up to 16 Bcf in the future. The company also will build a nine-mile natural gas pipeline heading northeast from the storage site into Orange County to connect the storage facility with six interstate and intrastate pipelines. Golden Triangle Storage expects to obtain regulatory permits to begin construction in early 2008. The first salt dome cavern is slated to begin commercial operations in late 2010 to early 2011, with a second cavern online in 2013. "We completed a successful non-binding open season with prospective customers at the end of May and the FERC filing represents another significant milestone in the project's development," said Dana Grams, president of Pivotal Energy Development, the AGL Resources' department overseeing the Golden Triangle Storage project. "This facility is expected to enhance the region's growing energy infrastructure at a critical natural gas crossroads." Project details can be found on the company's Web site at http://www.goldentrianglestorage-texas.com/. Copies of the certificate application will be available on the FERC Web site at http://www.ferc.gov/ as well as at public libraries in Beaumont (main library), Port Arthur, Vidor, Nederland and Orange, Texas. Additional information is available on the FERC Web site, including a brochure titled "An Interstate Natural Gas Facility on My Land?" and information on landowner rights. For more information, contact FERC's Office of External Affairs at 1-866-208-3372. To reach Golden Triangle Storage, call 409-832-0055 or 832-397-3882, email About AGL Resources AGL Resources Forward-Looking Statements Certain expectations and projections regarding our future performance referenced in this press release are forward-looking statements. Forward- looking statements involve matters that are not historical facts and because these statements involve anticipated events or conditions, forward-looking statements often include words such as "anticipate," "assume," "can," "could," "estimate," "expect," "forecast," "future," "indicate," "intend," "may," "outlook," "plan," "predict," "project," "seek," "should," "target," "will," "would," or similar expressions. These forward-looking statements may include statements regarding the cost, timing, capacity and benefits of the proposed project, as well as anticipated future financial and operating performance and results, including estimates of future growth and expected returns. Our expectations are not guarantees and are based on currently available competitive, financial and economic data along with our operating plans. While we believe our expectations are reasonable in view of the currently available information, our expectations are subject to future events, risks and uncertainties, and there are several factors - many beyond our control - that could cause results to differ significantly from our expectations. Such events, risks and uncertainties include, but are not limited to, changes in price, supply and demand for natural gas and related products; the impact of changes in state and federal legislation and regulation; actions taken by government agencies on rates and other matters; the inability of the company to obtain regulatory and other approvals necessary to complete the proposed project, resulting in a delay in project completion, or in the imposition of conditions that could have a material adverse effect on the company or cause the company to abandon the project; actions by competitors, suppliers, customers or others that might result in a delay in project completion or abandonment of the project; and other factors which are provided in detail in our filings with the Securities and Exchange Commission, which we incorporate by reference in this press release. Forward-looking statements are only as of the date they are made, and we do not undertake to update these statements to reflect subsequent changes. SOURCE: AGL Resources CONTACT: Jack Holt of AGL Resources, +1-404-584-4255, Cell, |