The Sponsors Of The Commonwealth Pipeline Announce Positive Response To Open Season
Inergy Midstream, L.P. (NYSE: NRGM); UGI Energy Services, Inc., a wholly owned subsidiary of UGI Corporation (NYSE: UGI); and Capitol Energy Ventures Corp., a wholly owned subsidiary of WGL Holdings, Inc. (NYSE: WGL), today announced that the results of the non-binding open season held for the Commonwealth Pipeline project (“Commonwealth” or the “Project”) confirmed a high market demand for the Project and exceeded the sponsors’ expectations. The results indicate demand for the Project across a broad customer spectrum (including local distribution companies, electric generators, producers, and marketers) and a broad geographic region including existing and growth markets in Pennsylvania, the Mid-Atlantic and Southeast. Project representatives will be working with prospective shippers over the next several weeks to finalize design and route selection and to negotiate binding precedent agreements that will economically support the Project’s construction.
Commonwealth is a proposed 30”-36” diameter interstate natural gas pipeline designed to provide a direct and flexible path for bringing natural gas produced in the Marcellus and Utica Shale plays in Pennsylvania and neighboring states to growing natural gas markets in central and eastern Pennsylvania; the metropolitan areas of Philadelphia, Baltimore, and Washington, D.C.; and the Delmarva Peninsula.
All three sponsors expressed thanks to those who responded to the open season and to others who provided valuable input during initial discussions. For shippers interested in capacity on the Commonwealth Pipeline, contact David Hooker at (816) 714-5494 or by email at firstname.lastname@example.org.
About Inergy Midstream, L.P.Inergy Midstream, L.P., headquartered in Kansas City, Missouri, is a master limited partnership engaged in the development and operation of natural gas and NGL storage and transportation assets. Inergy Midstream owns and operates natural gas storage facilities with aggregate working gas capacity of 41 bcf, natural gas liquids storage facilities with capacity of 1.5 million barrels, and natural gas pipelines with 355 MMcf/d of transportation capacity in New York and Pennsylvania. Inergy Midstream, L.P. is a subsidiary of Inergy, L.P. Additional information about Inergy Midstream, including reports from the United States Securities and Exchange Commission, are available on the company’s website, www.Inergylp.com. About UGI Energy Services, Inc. UGI Energy Services, Inc. owns 14.7 BCF of underground natural gas storage in north-central Pennsylvania, operates LNG and propane/air peaking plants in Pennsylvania, and is developing midstream projects throughout the Marcellus Shale region. UGI Energy Services also markets natural gas, electricity and liquid fuels to over 10,000 commercial and industrial customers at more than 30,000 locations in eight eastern states and Washington, D.C. and owns electric generation assets in Pennsylvania. UGI Energy Services is a wholly owned subsidiary of UGI (NYSE: UGI), a distributor and marketer of energy products and services that, in addition to UGI Energy Services, operates natural gas and electric utilities in Pennsylvania and distributes propane both domestically and internationally. Comprehensive information about UGI Corporation is available on the Internet at http://www.ugicorp.com. About WGL Holdings, Inc. Headquartered in Washington, D.C., WGL Holdings, Inc.(NYSE: WGL) has four operating segments: (i) the regulated utility segment, which primarily consists of Washington Gas, a natural gas utility that serves over one million customers throughout metropolitan Washington, D.C., and the surrounding region; (ii) the retail energy-marketing segment which consists of Washington Gas Energy Services, Inc., a third-party marketer that competitively sells natural gas and electricity; (iii) the commercial energy systems segment, which consists of Washington Gas Energy Systems, Inc., a provider of energy efficiency solutions to government and commercial clients and (iv) the wholesale energy solutions segment, which consists of Capitol Energy Ventures Corp., a non-utility asset optimization business. Additional information about WGL Holdings, Inc. is available on its website, wglholdings.com. Go to washingtongas.com for more information about Washington Gas Light Company. Forward-Looking Statements This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to future business performance, strategies or expectations. Forward-looking statements are typically identified by words such as, but not limited to, “estimates,” “expects,” “anticipates,” “intends,” “believes,” “plans,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would,” and “could.” Although we believe such forward-looking statements are based on reasonable assumptions, we cannot give assurance that every objective will be achieved. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, forecast costs and rates for the Commonwealth Pipeline, our ability to negotiate binding precedent agreements with prospective shippers, general economic conditions and the other factors discussed under the “Risk Factors” heading in each of our most recent annual reports on Form 10-K and other documents we have filed with, or furnished to, the U.S. Securities and Exchange Commission.
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