PEARL RIVER, N.Y., Dec. 22 /PRNewswire/ -- The Federal Energy Regulatory Commission (FERC) yesterday issued Millennium Pipeline Company, LLC approval to construct its proposed 181.7 mile natural gas pipeline system. The FERC Order modifies an existing Certificate of Public Convenience and Necessity issued in September 2002, by approving changes in the pipeline route and compression.
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The Millennium Pipeline will primarily be supplied by connections with the Empire State Pipeline at Corning, NY, local production, and storage locations in western New York. The mainline system traverses New York's Southern Tier and the lower Hudson Valley terminating at Ramapo in Rockland County, where it will interconnect with Algonquin Gas Transmission. The Millennium Pipeline is a vital link in the larger "NE 07 Project" that includes new facilities for Algonquin Gas Transmission, Empire State Pipeline and Iroquois Gas Transmission. The NE '07 Project will connect the Dawn supply hub to eastern markets in New York, New Jersey and New England through Millennium.
"We are very pleased that the FERC has acted expeditiously on this significant expansion of the natural gas delivery system in the Northeast US," said Millennium President Dick Leehr. "Our FERC certification is one of the major milestones on the road to this project's completion. Countless hours have been spent over many years by both stakeholders and regulatory agencies with the critical pieces now finally coming together."
Underlying the FERC's Order is a favorable Final Supplemental Environmental Impact Statement (FSEIS) received last month that is a thorough and comprehensive review and analysis of the environmental impacts of the entire NE 07 Project route.
Leehr said Millennium is now reviewing the Order in detail to assess the numerous conditions. If favorable, Millennium will move forward to secure all remaining environmental permits, long term financing and finalize its transportation agreements prior to actual construction.
The Millennium Pipeline is anchored by its customers KeySpan Energy Delivery Long Island, Consolidated Edison of New York, Central Hudson Gas and Electric Corporation and Columbia Gas Transmission 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 525,000 Dth/day when it goes in service in November, 2008. Millennium is jointly owned by affiliates of NiSource, Inc., KeySpan Corporation, and DTE Energy.
For Additional Information:
Media Contacts:
Millennium Pipeline Company, L.L.C. Mike Armiak (845) 620-1300
Columbia Gas Transmission Corp. Brent Archer (703) 227-2318
DTE Energy Corporation Lorie Kessler (313) 235-8807
KeySpan Energy Corporation Jody Fisher (718) 403-2503
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 2.1 million customers in southeastern Michigan, and MichCon, a natural gas utility serving 1.2 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 2004, DTE Energy posted revenues of approximately $7.1 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.
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