TULSA, Okla., Aug. 6 /PRNewswire-FirstCall/ -- Williams (NYSE: WMB) announced today that it has completed a successful binding open season for its proposed Northeast Supply Project, an expansion of the Transco pipeline system designed to provide East Coast markets with additional access to the many economical sources of clean-burning natural gas provided by the Transco pipeline. The open season began June 23 and ended July 10, 2009.
Northeast Supply transportation service will be made available by an expansion of Transco's existing system and the construction of a new lateral, the Rockaway Delivery Lateral. The system expansion, Northeast Connector, will access additional supply beginning at Station 195 in southeastern Pennsylvania and create capacity to deliver this supply to Transco's Rockaway Delivery Lateral. The Rockaway Delivery Lateral will extend approximately three miles from Transco's Lower New York Bay Lateral to a new delivery point with National Grid's distribution system in New York.
As a result of the open season, shippers for the Northeast Connector and the Rockaway Delivery Lateral have executed precedent agreements for 100,000 and 647,000 dekatherms per day of firm transportation capacity, respectively.
"The Northeast Supply Project allows Williams to provide supply diversity and reliability to our northeast customers while developing a new delivery point into the heavily congested New York City area," said Phil Wright, president of Williams' natural gas pipeline business. "We look forward to working with the project shippers and other stakeholders to develop this critical infrastructure in a timely manner."
Williams anticipates that the project will be available beginning late 2012, subject to approval by the Federal Energy Regulatory Commission.
About Williams (NYSE: WMB)
Williams, through its subsidiaries, finds, produces, gathers, processes and transports natural gas. Williams' operations are concentrated in the Pacific Northwest, Rocky Mountains, Gulf Coast, and Eastern Seaboard. More information is available at http://www.williams.com. Go to http://www.b2i.us/irpass.asp?BzID=630&to=ea&s=0 to join our e-mail list.
Contact: Carin Andre
Williams (media relations)
(713) 215-2817
Richard George
Williams (investor relations)
(918) 573-3679
Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission.
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