News
Enterprise Subsidiary Files FERC Application to Expand Petal, Mississippi Storage Facility; Announces Open Season for Capacity Available June, 2008
HOUSTON-(Business Wire)-February 19, 2008 - Enterprise Products Partners L.P. (NYSE:EPD) today announced that its subsidiary, Petal Gas Storage, LLC (Petal), has submitted an application to the Federal Energy Regulatory Commission to further expand its natural gas storage facility located in Petal, Mississippi. The project will include construction of two new underground salt caverns, creating 10 billion cubic feet (Bcf) of working gas capacity, which could be completed and in service as early as the second quarter of 2010.
Separately, Petal announced a binding open season for approximately 1 Bcf of natural gas storage capacity that will be available around June 1, 2008. The binding open season will begin at 8 a.m. CST on Monday, February 25, 2008, and conclude at 5 p.m. CST on Monday, March 10, 2008.
With current access to five major interstate pipeline systems, Petal offers shippers the flexibility to reach key growth markets in the Southeast and Mid-Atlantic through bi-directional interconnects to Tennessee Gas Pipeline, Gulf South Pipeline, Hattiesburg Gas Storage and , through the Petal Pipeline, Transcontinental Gas Pipe Line, Southern Natural Gas and Destin Pipeline. Petal anticipates future interconnects with Southeast Supply Header, Mid-Continent Express, and Gulf Crossing pipelines. These new interconnects will give customers access to gas supplies originating in the growing Barnett Shale, Woodford Shale and Bossier production areas, thus providing additional storage injection opportunities at Petal.
Customers interested in learning more about our expansion plans or desiring to bid on the available capacity should contact Paul Tate at 713-381-8077 or ptate@eprod.com.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships with an enterprise value of more than $21 billion, and is a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil and petrochemicals. Enterprise transports natural gas, NGLs, crude oil and petrochemicals through more than 35,000 miles of onshore and offshore pipelines. Services include natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil transportation and offshore production platform services. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP LLC, which is wholly owned by Enterprise GP Holdings L.P. (NYSE:EPE). For more information on Enterprise GP Holdings L.P., visit www.enterprisegp.com.
This news release includes forward-looking statements. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties, such as the partnership's expectations regarding its long-term natural gas gathering and processing programs and future operating results. These risks and uncertainties include, among other things, insufficient cash from operations, market conditions, governmental regulations and factors discussed in Enterprise Products Partners L.P.'s filings with the Securities and Exchange Commission. If any of these risks or uncertainties materializes, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. The partnership disclaims any intention or obligation to update publicly or reverse such statements, whether as a result of new information, future events or otherwise.
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