“We believe our project offers a number of well-defined market options, both domestic and international, that offer attractive netbacks to the Utica and Marcellus producers,” said John Haynes, senior vice president and chief commercial officer for Boardwalk Pipeline Partners. “We are encouraged by our meetings with potential customers and are pleased to launch this Open Season.”The Bluegrass Pipeline project is comprised of three segments: 1. Construction of a new NGL pipeline from numerous natural gas processing plants in producing areas in Ohio, West Virginia and Pennsylvania to an interconnect with Boardwalk's Texas Gas Transmission, LLC system near Hardinsburg, Ky. 2. Conversion of a portion of existing pipeline on Texas Gas Transmission from natural gas service to NGL service from Hardinsburg to Eunice, La. 3. Construction of a new NGL pipeline from Eunice, La. to a proposed large-scale fractionation plant and expanding natural gas liquids storage facilities in the Lake Charles, La. area. The proposed fractionation plant and storage facilities are also a joint venture project between Williams and Boardwalk that have collectively been named Moss Lake Fractionation. Williams and Boardwalk also recently announced a joint venture for the development of a new LPG export terminal and related facilities near Lake Charles, La. on the Gulf Coast, named Moss Lake LPG Terminal, to provide customers access to international markets. The combination of the Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG Terminal projects offers producers a comprehensive and flexible market solution for the total barrel of NGLs. By combining new construction with an existing pipeline, Williams and Boardwalk believe that the Bluegrass Pipeline should be placed into service and begin serving customers sooner than other options. Williams and Boardwalk are engaged in comprehensive project development planning including permitting, public consultation and right-of-way acquisition. On May 29, Boardwalk filed with FERC the Abandonment Application for the portion of Texas Gas Transmission that would be converted to NGL service, and the abandonment process is estimated to be complete in the second quarter of 2014. Williams and Boardwalk are targeting to place the project into service in late 2015, assuming the parties determine to complete the project and all necessary conditions are met.
About WilliamsWilliams (NYSE: WMB) is one of the leading energy infrastructure companies in North America. It owns interests in or operates 15,000 miles of interstate gas pipelines, 1,000 miles of NGL transportation pipelines, and more than 10,000 miles of oil and gas gathering pipelines. The company's facilities have daily gas processing capacity of 6.6 billion cubic feet of natural gas, NGL production of more than 200,000 barrels per day and domestic olefins production capacity of 1.35 billion pounds of ethylene and 90 million pounds of propylene per year. Williams owns approximately 64 percent of Williams Partners L.P. (NYSE: WPZ), one of the largest diversified energy master limited partnerships. Williams Partners owns most of Williams' interstate gas pipeline and domestic midstream assets. Williams also owns Canadian operations and certain domestic olefins pipelines assets, as well as a significant investment in Access Midstream Partners, L.P. (NYSE: ACMP), a midstream natural gas services provider. The company's headquarters is in Tulsa, Okla. For more information, visit www.williams.com, where the company routinely posts important information. About Boardwalk Boardwalk Pipeline Partners, LP (NYSE: BWP) is a midstream master limited partnership that provides transportation, storage, gathering and processing of natural gas and liquids for its customers. Boardwalk and its subsidiaries own and operate approximately 14,410 miles of natural gas and liquids pipelines and underground storage caverns with an aggregate working gas capacity of approximately 201 billion cubic feet and liquids capacity of approximately 18 million barrels. Boardwalk is a subsidiary of Loews Corporation (NYSE: L), which holds 53% of Boardwalk's equity, excluding incentive distribution rights. Additional information about the Partnership can be found on its website at www.bwpmlp.com. Forward-Looking Statements This press release contains forward-looking statements relating to expectations, plans or prospects for Boardwalk Pipeline Partners, LP, The Williams Companies, Inc. and their subsidiaries, in relation to the potential for successful development of the proposed Bluegrass Pipeline and related facilities comprising the planned project discussed in this press release. These statements are based upon the current expectations and beliefs of management of Williams and Boardwalk and are subject to many risks and uncertainties that could cause actual results to differ materially from the current plans or expectations described in the forward-looking statements, including the risk and uncertainties described in the companies’ Quarterly Reports on Form 10-Q for the quarter ended June 30, 2013 and other filings with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of Boardwalk and Williams.