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|Inergy Announces Two Non-Binding Open SeasonsMARC I Hub Line and North-South Project|
MARC I Hub Line Project
The MARC I Hub Line Project seeks to gauge interest for Northeast shippers that desire to move gas bi-directionally between the South Lateral of Inergy's Stagecoach Gas Storage Facility ("Stagecoach"), Tennessee Gas Pipeline Company's ("TGP") 300 Line near its compressor station 319, and Transco's Leidy Line near its compressor station 517.
The Marc I Hub Line Project includes approximately 43 miles of lateral piping, compression, and interconnect facilities connecting Inergy's Stagecoach South Lateral to Transco. The Marc I Hub Line Project, when placed in-service, will allow Inergy to wheel volumes to and from Stagecoach's South Lateral, TGP, Transco, and the Millennium Pipeline.
The North-South Project seeks to gauge interest for shippers that desire to wheel gas on a firm basis through Inergy's existing North and/or South Laterals of Stagecoach to and from TGP's 300 Line, Inergy's proposed MARC I Hub Line, and the Millennium Pipeline.
The North-South Project includes setting additional compression and expanded measurement facilities at Inergy's existing Millennium and TGP interconnects.
The proposed projects are targeting Northeast shippers seeking: (i) additional market supply flexibility and reliability; (ii) access to additional gas supplies in the market area; (iii) liquid points of sale for locally produced gas from the Marcellus Shale and Trenton-Black River plays, among others; (iv) additional storage opportunities; and (v) capture of pricing differentials between the various interconnected market pipelines.
Rates, including fuel retention, for both projects will be determined after the conclusion of this non-binding Open Season and are dependent upon the final scope of the facilities and firm service commitments. Indicative rates are provided for both projects in each of the non-binding Open Season Packages.
Non-binding Open Seasons for both projects will close August 21, 2009, at 5:00 p.m. CT.
The anticipated in-service date for both projects is September 1, 2011.
For questions concerning this non-binding Open Season or for Open Season packages, contact Ron Happach at 720-279-6344 or by email, firstname.lastname@example.org. Open Season packages can also be downloaded from the following websites:
About Inergy Midstream, LLC
Inergy Midstream, LLC, is a wholly-owned subsidiary of Inergy, L.P., and is headquartered in Kansas City, Missouri. The Company owns and operates Central New York Oil And Gas Company, LLC's Stagecoach Gas Storage Facility, which has 26 BCF of working gas capacity; Finger Lakes LPG Storage, which includes an existing 1.5 million barrel underground salt cavern LPG storage facility as well as a development of up to 5 million additional barrels of underground salt cavern storage capacity near Watkins Glen, N.Y.; and Arlington Storage Company, LLC, which owns and operates the Steuben Gas Storage Facility, a 5.7 BCF natural gas storage facility and the Thomas Corners Gas Storage Facility, a 7 BCF natural gas storage facility, which is currently being developed.
About Inergy, L.P. and Inergy Holdings, L.P.
Inergy, L.P., also headquartered in Kansas City, Mo., is among the fastest growing master limited partnerships in the country. The Company's operations include the retail marketing, sale and distribution of propane to residential, commercial, industrial and agricultural customers. Today, Inergy serves approximately 700,000 retail customers from over 300 customer service centers throughout the eastern half of the United States. The Company also operates a 40 BCF natural gas storage business; a liquid petroleum gas storage business; and a propane supply logistics, transportation and wholesale marketing business that serves independent dealers and multi-state marketers in the United States and Canada.
Inergy Holdings, L.P.'s assets consist of its ownership interest in Inergy, L.P., including limited partnership interests, ownership of the general partners, and the incentive distribution rights.
This news release contains forward-looking statements, which are statements that are not historical in nature such as the expectation that Marc I Hub Line project will add additional transportation capacity in the northeast, the proposed hub line will interconnect with Tennessee Gas Pipeline and Transcontinental Gas Pipeline Corporation's (Transco) Leidy Line, and the expectation that commercial operations will commence in 2011. Forward-looking statements are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or any underlying assumption proves incorrect, actual results may vary materially from those anticipated, estimated, or projected. Among the key factors that could cause actual results to differ materially from those referred to in the forward-looking statements are: weather conditions that vary significantly from historically normal conditions; the demand for high deliverability natural gas storage capacity in the Northeast; the general level of petroleum product demand and the availability of natural gas and the price of natural gas to the consumer compared to the price of alternative and competing fuels; our ability to successfully implement our business plan with respect to our continued expansion of our midstream operations; our ability to generate available cash for distribution to unitholders; the outcome of rate decisions levied by the Federal Energy Regulatory Commission; and the costs and effects of legal, regulatory, and administrative proceedings against us or which may be brought against us. These and other risks and assumptions are described in Inergy's annual report on Form 10-K and other reports that are available from the United States Securities and Exchange Commission.
Corporate news, unit prices, and additional information about Inergy, including reports from the United States Securities and Exchange Commission, are available on the Company's website, www.InergyPropane.com. For more information, contact Mike Campbell in Inergy's Investor Relations Department at 816-842-8181 or via e-mail at email@example.com.
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SOURCE: Inergy, L.P.