HOUSTON, June 30 /PRNewswire-FirstCall/ -- ANR Pipeline Company (ANR), a subsidiary of El Paso Corporation , announced today that it has fully subscribed the company's existing storage capacity through the 2006-2007 withdrawal season and is extending its non-binding open season for expansion of storage and associated transportation service at the request of customers.
"This strong response from our customers is further confirmation of the market's growing need for future storage services," said Steve Beasley, president of El Paso's Eastern Pipeline Group. "We believe ANR's proposed storage expansion and extensive delivery infrastructure is well-placed to meet these additional needs."
ANR's extended open season is for new storage and transportation capacity commencing operation in 2006, 2007, or 2008. The open season, originally scheduled to end on June 22, will now run until July 8, 2005. The storage capacity offered is designed to help customers manage seasonal price volatility and provide increased supply security.
ANR Pipeline Company operates more than 10,500 miles of interstate natural gas pipeline and over 230 billion cubic feet of storage fields, providing transportation, storage, and capacity-related services to customers in the United States and Canada.
El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company owns North America's largest natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit http://www.elpaso.com/ .
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 company has 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, including, without limitation, the ability to implement and achieve our objectives in the long-range plan; the receipt of the necessary capacity commitments for this project; the receipt of necessary governmental approvals for this project; and other factors described in the company's (and its affiliates') Securities and Exchange Commission filings. While the company makes these statements and projections in good faith, neither the company nor its management can guarantee that anticipated future results will be achieved. Reference must be made to those filings for additional important factors that may affect actual results. The company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the company, whether as a result of new information, future events, or otherwise.
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