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HOUSTON--(BUSINESS WIRE)--Jun. 30, 2009--
Boardwalk Pipeline Partners, LP (NYSE:BWP) today announced that its Gulf
Crossing Pipeline Company LLC subsidiary (Gulf Crossing) has completed
remediation of the pipe anomalies on its system and has been authorized
by the Pipeline and Hazardous Materials Safety Administration (PHMSA) to
operate the pipeline at normal operating pressures of up to 72% of the
Specified Minimum Yield Strength (SMYS), effective immediately.
Anticipated peak-day delivery capacity for Gulf Crossing in July is
estimated at approximately 1.3 Bcf per day. Boardwalk plans to increase
the peak-day delivery capacity of the Gulf Crossing pipeline to 1.4 Bcf
per day, subject to receiving a special permit from PHMSA to increase
operating pressures up to 80% SMYS. Rolf Gafvert, Chief Executive
Officer for Boardwalk Pipeline Partners, LP, said, “We have made
significant progress on Gulf Crossing and continue to work very closely
and cooperatively with PHMSA in order to obtain the authority to operate
all of our major pipeline projects at higher operating pressures.” He
stated further that “Remediation and testing procedures are continuing
on all of our major projects and PHMSA retains discretion on granting
additional approvals.”
Boardwalk also announced that the Federal Energy Regulatory Commission
has granted Gulf Crossing authority to expand its Mira Compressor
Station in Caddo Parish, Louisiana to increase peak-day delivery
capacity to 1.7 Bcf per day in 2010, subject to approval by PHMSA.
Gulf Crossing consists of approximately 357 miles of 42-inch pipeline
originating near Sherman, Texas and proceeding to the Perryville,
Louisiana area.
Boardwalk Pipeline Partners, LP, is a limited partnership engaged,
through its subsidiaries, Gulf Crossing Pipeline Company LLC, Gulf South
Pipeline Company, LP, and Texas Gas Transmission, LLC, in the interstate
transportation and storage of natural gas. Boardwalk’s interstate
natural gas pipeline systems have approximately 14,200 miles of pipeline
and underground storage fields having aggregate working gas capacity of
approximately 160 Bcf.
This press release contains forward-looking statements relating to
expectations, plans or prospects for Boardwalk Pipeline Partners, LP and
its subsidiaries. These statements are based upon the current
expectations and beliefs of management and are subject to certain risks
and uncertainties, including those related to remediation of pipeline
anomalies, the impact of the anomalies on Boardwalk’s business and
financial results, and future approvals or authorizations from PHMSA to
operate Boardwalk’s expansion pipelines at higher operating pressures,
that could cause actual results to differ materially from those
described in the forward-looking statements. These risks and
uncertainties as well as other information related to our expansion
pipelines are discussed in Boardwalk's filings with the U.S. Securities
and Exchange Commission.
Source: Boardwalk Pipeline Partners, LP
Boardwalk Pipeline Partners, LP
Jamie Buskill, 713-479-8082
Senior
VP, Chief Financial Officer and Treasurer
or
Allison McLean,
866-913-2122
Director of Investor Relations