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Gas News Release
September 27, 1999
Atlantic Alliance Project Extends Open Season
HOUSTON and CLARKSBURG, W.Va. -- Tennessee Gas Pipeline
Company, a business unit of El Paso Energy Corporation (NYSE: EPG), and CNG Transmission
Corporation, a subsidiary of Consolidated Natural Gas Company (NYSE: CNG), announced
that the Atlantic Alliance Project open season will be extended to Tuesday, November
30, 1999 at the request of potential shippers. The open season was originally
proposed to close on Thursday, September 30, 1999.
Potential shippers requested that the open season be extended
due to increased uncertainty regarding the Millennium and Independence/MarketLink
certificate proceedings including the Federal Energy Regulatory Commission's
(FERC) recently announced public conference regarding Independence/MarketLink.
Additionally, the targeted gas-fired power plant market is still being defined.
The Atlantic Alliance Project is proposed to transport up
to 750,000 dekatherms of natural gas per day from Chicago and the Niagara Import
Point to developing markets in the northeast. It will include access to Transco
and the proposed MarketLink Project at Leidy, Pennsylvania, and to Columbia
and the proposed Millennium Project at Horseheads and Greenwood, New York. Capacity
will be phased in as needed on Tennessee's and CNG's existing systems by adding
limited facilities along existing rights-of-way. This approach minimizes any
adverse effects on existing customers, existing pipelines in the market and
their captive customers or landowners, as well as communities affected by the
route of the new facilities, in compliance with FERC's new policy statement.
With over $10 billion in assets, El Paso Energy Corporation
provides energy solutions through its strategic business units:Tennessee Gas
Pipeline Company, El Paso Natural Gas Company, El Paso Field Services Company,
El Paso Power Services Company, El Paso Merchant Energy Company, and El Paso
Energy International Company. The company owns the nation's only integrated
coast- to-coast natural gas pipeline system and has operations in natural gas
transmission, gas gathering and processing, power generation, energy marketing,
and international energy infrastructure development. On June 10, the stockholders
of both El Paso Energy and Sonat Inc. overwhelmingly voted in favor of merging
the two organizations. The merger is expected to close in the fourth quarter
of this year, concurrent with the completion of regulatory reviews. Visit El
Paso Energy's web site at www.epenergy.com.
CNG Transmission, headquartered in Clarksburg, W.Va., is
the interstate natural gas transmission subsidiary of Pittsburgh-based Consolidated
Natural Gas Company, a fully integrated natural gas company. CNG is in the process
of merging with Dominion Resources, Inc., to become one of the nation's largest
integrated energy companies, with 4 million customers, 20,000 megawatts of electric
generating capacity, and more than 3 trillion cubic feet equivalent of oil and
natural gas reserves. CNG Transmission provides gas transportation and storage
services to other major pipelines and to markets in the Midwest, Mid-Atlantic,
and Northeast regions of the country.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This release includes forward-looking statements and projections,
made in reliance on the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The companies have made every reasonable effort to ensure
that the information and assumptions on which these statements and projections
are based are current, reasonable, and complete. However, a variety of factors
could cause actual results to differ materially from the projections, anticipated
results or other expectations expressed in this release. While the companies
make these statements and projections in good faith, neither the companies nor
their managements can guarantee that the anticipated future results will be
achieved. Reference should be made to the companies' (and their affiliates')
Securities and Exchange Commission filings for additional important factors
that may affect actual results.
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For further information contact:
Dan Donovan
412-690-1370
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